Right timing is essential in real Estate. If you ever had an aspiration to buy a home, but somehow could not, now is the time to put it through in action.
According to real estate experts, it’s the best time to invest in the real estate sector because big developers are here to redefine the way real estate in India operates and is looking to make it the most promising investment around. Right now, the market is sending positive indications as all the deciding factors in real estate are in a home-buyers’ favor.
Low interest rates, better affordability, new government incentives, Buyer safety regulations in place and a few other reasons have made this the best time to invest in real estate.
- Lowest interest rates ever
Housing is as affordable as never before because interest rates are at an all-time low. One can’t recall the last time that interest rates had been below 7%, but they are today. Many people now see EMIs as SIPs into a non-volatile asset. This sentiment has grown a lot because home loan interest rates are at their cheapest. But this phase won’t last long. The chances of RBI to drop rates in the future are very limited because the whole country’s economy is growing. Keeping inflation in mind, then RBI might not reduce the interest rates further. So, now that we might be at the bottom of the interest rate cycle, this clearly seems to be one of the main reasons to invest in real estate now.
- Encouraging government tax rebates and subsidies
On top of interest rate reduction, the government has taken steps to ensure that housing becomes attractive to home buyers. Recently, the Indian government introduced new incentives like interest subsidy on housing loans, reducing the tax burden on under-construction houses and reducing stamp duty charges in some regions. In addition to these, a series of regulatory reforms such as RERA and GST, the introduction of schemes like Housing for all, PMAY-CLSS by the government have made the real estate market one of the most attractive investment options right now.
- Amazing offers provided by builders
Today, the kind of deals that developers are offering to customers have not been seen in the past. Developers are offering a plethora of attractive enticements that have turned this dream of having a real estate asset into reality. These include cashback schemes, more comfortable EMIs on loans, refundable booking amounts, attractive price protection propositions, YOU BUY, WE PAY offer where the customer books a property project and enjoys no PRE EMI till possession.
One may probably not get such attractive deals or payment schemes ever again in these current locations/projects. These opportunities to seal a good bargain with discounts and incentives won’t last forever. So, act now.
- Real estate – The prime asset.
For a person looking to make long-term investments, available asset options include commodities, fixed deposits, equities, and real estate. Among physical assets, real estate has always been at the top, as it offers numerous benefits. Real estate offers you the best bid — stability, security, and safety, provided you choose a reputable developer. The pandemic has shaken up the world and changed the mindset of people because they want to feel secure in their own home. Ownership of a property brings an unmatched sense of security and stability along with an extra source of income if one decides to rent out their house. Having a rental income on the side would do anyone good during these uncertain times.
- Property rates being at their lowest
Real estate prices are already at rock bottom. The Property Prices have not moved up. Fence-sitters have been holding back thinking the property prices will go down more, and then they will buy a house. But now is not the time to postpone this decision. If you’re expecting the prices to fall more, that will not happen as the demand for housing is growing. So, if you’re waiting for property prices to decline further, act fast. They actually seem to be on a rise.
The combination of stable property prices, interest rate at an all-time low, many near-completion projects, government tax schemes in favour, and mind-blowing offers by developers, make it the ideal time to invest in real estate and finally have a home, that you can call your own.
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