Navratri festival is going on. These days are considered very auspicious. Most of the people buy houses and properties during these days. On the other hand, to attract potential buyers, builders often come up with attractive offers and discounts during this period. On the other hand, the Reserve Bank of India (RBI) has not made any change in the Repo Rate for 4 consecutive times. Experts believe that demand will start increasing at the beginning of this Festive season.

According to Rahul Mehrotra, MD and CEO, Religare Housing Development Finance Corporation Limited, people like to move into their new homes during the festive season and developers announce new launches and free facilities as well as new offers during these months. Demand is usually high. The additional benefit for customers will be that there will be no increase in home loan EMI. This will definitely provide a lot of relief to home buyers. Let us also tell you why buying a house in this festive season can be a profitable deal for you?

No change in home loan interest rates

Even though there has been no change in the repo Rate for the last four times, the interest rates are at their peak. Even after that, there has been no increase in home loan rates during this period. The repo rate remains at 6.5 percent. Freezing of repo rate is very beneficial for the common people and the real estate sector. According to Pramod Kathuria, Founder and CEO of EasyLoan, the stable repo rate is no less than a gift for home buyers. It is giving people an opportunity to buy houses at low interest rates.

According to Kamaljit Rastogi, CEO, Sahibank, Manipal Business Solutions, the real estate market is on a historically upward trend, which means buying a home now can be a good investment for the future, making this festive season a great time to buy a home. Is good.

Strong economic growth

Despite rising EMI costs, strong economic growth, increasing urbanization and government incentives are driving growth in India’s home loan market. Despite EMI being expensive, the demand for home loans is expected to increase due to the festive season. Demand for affordable housing is also expected to remain strong during the festive season. This is because developers are focused on affordable housing projects. According to Sahibank CEO Kamaljit Rastogi, government initiatives like Pradhan Mantri Awas Yojana and other schemes will also promote affordable housing, which will support strong demand.

New offers during festive season

Personal finance experts are of the opinion that during the festive season, developers and banks often come up with festive offers and discounts, which can help home buyers save money. According to Pramod Kathuria, the market is looking quite positive for consumers regarding the residential market. According to Rahul Mehrotra, festive season bonus for employees will boost your disposable income.