India is a multi-cultural, colorful country. And as we proceed to the end of the year, the festivity begins. Navratri is another auspicious occasion worshiping nine incarnations of goddess Durga for nine days.
So, for these nine days we give you nine-bang-on-reasons to invest in real estate!
We believe in higher spirits, positive energies and the almighty! We know that the lord is always with us in good and bad times. Hence, festivals become the most blessed period of the year. Festivals are always a shubh mahurat for major decision making, especially financial ones. Investing particularly during this time can prove to be very lucky and bring prosperity. Buying property is considered to be very auspicious around this time.
We all love this word, don’t we? One of the benefits of investing in real estate during festivals is that not only homebuyers, but even the builders understand the significance of these festivals for the realty sector and offer some very good deals on properties with discounts, rewards, gifts or add-ons like gold coins to the home-buyers. Some of the realtors also drop the property prices considerably to attract the customers.
But, at the same time you have be aware of the location of their project as well. A property at a cheaper rate will not always be convenient for your lifestyle. Factors like connectivity, neighborhood, cultural stability and safety should be considered.
With increase in the intention of the buyers to invest in a property, most of the developers launch new residential projects during festivals. With all the announcements of new projects around, one obvious benefit that you get while buying an under construction house is the discount offered for per square foot of the total area of the house.
One issue with the announcement of the multiple projects is that the developers claim to complete these projects on time in the heat of the festive season, but they are not able to manage the promised deadlines. So always carefully choose a developer who is consistent with their projects.
We are social animals, building relations is in our characteristics. Real estate is a field where this relation lasts really long. Unlike other investments which requires attention and calculation time and again, investing in real estate is a one-time wise call and a lifetime of good returns, be it a property that you buy and rent it out, or a house that you plan to live in. It is an active future planning for yourself and your family.
On the other hand, it is important for the developers to build a relation which would last long rather than project based communication. You should invest in a project where the developer understands your needs and makes you feel at home even before buying one.
Aren’t these words pleasing? Yes, real estate is a safe field to invest in and secure your money. Thanks to RERA (The Real Estate Regulation and Development Act), 2016 as it protects home-buyers and investors rights, it proves to be your guardian for real estate investment. Another notable point is also that inflation does not affect the property prices. The prices either remain stagnant or grow, there is no ladder going down for real estate. Investing here is almost as if putting your money into a safe lock!
It’s not just the field but also the people. More trusted the developer is, more secure you will feel. Hence, building relationship and their honestly and sincerity of past project would shape a feeling of safety.
One of the advantages of investing in real estate is that the home loans are cheaper compared to any other loans. Shelter being one of the basic necessities, the loan schemes are convenient, the ticket size is higher with low EMIs and the tenure is also longer. The prices of the property stand unaffected even in front of the national financial issues.
Investment planning involves quite a few tax aspects. Investing in any other field is more of an expense than tax benefits. Deduction under section 80C of the Income tax Act is available for investment in house property. There is a dual benefit in case of investment in house property by availing a loan. Further in case of a situation where the interest paid is more than the rental income (including ‘Nil’ income in case of self-occupied property), it is possible to set off against salary income reducing the overall tax burden.
During festivals the real estate market is also called as the buyer’s market as it arches into the buyer’s lawn. Due to the multiple options and offers provided by the developers, which in turn increases the demand during festivals, you have the upper hand. You get the platform to compare not just their projects, but also their schemes and prices and negotiate according to your budget. You know, they know, they can’t let go of such a potential buyer.
With all the benefits, either invest for a passive income and future planning or buy a new home and gift a new space to your family, invest in real estate and celebrate your new dream home, add happiness in your life and another reason to celebrate it with your loved ones!