Why to Invest in Real Estate this Akshaya Tritiya?
Jun 14, 2018 Home Trading Steps
According to Hindu calendar, Akshaya Tritiya is considered one of the most auspicious days to buy gold or making other such investments like real estate. And according to the real estate experts, this Akshaya Tritiya is the best time to invest in property and advising buyers not to hold their home-shopping plans.
Let’s understand the reasons.
Let’s understand the reasons.
Property prices:
Several reformatory steps like demonetisation, real estate law, introduction of GST and the insolvency code have adversely affected the home sale. The buyers became more cautious while investing in the property market and developers continue to struggle to sell their inventories. The property rates have also fell by three percent on average in the major cities which is a good news for the prospective buyers to start their home shopping.
Interest rates might change:
For the fourth time in a row, the Reserve Bank of India (RBI) have not changed its policy rates which the apex body announced in its first bi-monthly monetary policy review. Several banks such as SBI have hiked the interest rates such as State Bank of India recently hiked the base rate and the benchmark prime lending rate (BPLR) by five basis points each. And from April, HDFC has also raised its retail prime lending rates by 20 basis points. Till now the rates were low but now these hike in interest rates show that there is chance of interest rates going high. This means that higher the home loan rate, [properties will become more costly.
Ample options of inventories:
Real estate industry has been reeling under number of unsold inventories in the major cities.
While estimates differ, leading real estate advisory firms estimate India’s real estate developers are sitting on nearly 0.5 million units of unsold inventory in major cities. Apart from the fact that this gives buyers an opportunity to pick from a large collection, this inventory gives buyers a chance to pick ready-to-move-in units at comparatively affordable prices. As this unsold inventory is a cause of major worry for builders, they would be more willing to offer you a sweeter deal. The pressure to offload the inventory is immense since the income tax department plans to charge tax on the same.
While estimates differ, leading real estate advisory firms estimate India’s real estate developers are sitting on nearly 0.5 million units of unsold inventory in major cities. Apart from the fact that this gives buyers an opportunity to pick from a large collection, this inventory gives buyers a chance to pick ready-to-move-in units at comparatively affordable prices. As this unsold inventory is a cause of major worry for builders, they would be more willing to offer you a sweeter deal. The pressure to offload the inventory is immense since the income tax department plans to charge tax on the same.
Looking for property portal?
Related Articles
See comments (0)
Write a comment
