Investing in Real Estate during Festive Season
By Evente Clinic
October marks the beginning of the festive season in India. Considered as an auspicious time for property buying, there is always a surge in demand for real estate during this period.
If homebuyers are confused about the timing of their purchase, their confusion generally ends towards the festive season. According to experts, the festive season is the best time to invest and reportedly, one-third of the property sales that take place in a year are registered during this season.
Naturally, developers leave no stone unturned to stand out in the market to cash in on this positive sentiment. Like every year, this year also developers are betting big on the upcoming festive season to push the sales volume.
With the economy in a bullish mode and office absorption at an all-time high across key metros, it is indeed the right time for buyers to take the plunge.
“October marks the beginning of the festive season in India. Considered as an auspicious time for property buying, there is always a surge in demand for real estate during this period.”
At present, several leading developers are also offering customer-friendly payment schemes along with a lot of other add-ons. And with the upcoming festive season, there will be an array of options to select from at competitive prices along with great deals and discounts.
Here are a few reasons to buy a home during this festive season:
The market outlook – The overall market outlook is positive. With the finance minister leaving no stone unturned to boost the economy, the results will be seen soon. Our international relationships and business confidence are improving. Thus, there seems to be a strong case for India to continue to be on the path of growth trajectory in the coming years. Thus, as far as the macroeconomy is concerned, it is just the right time to invest.
Buying has become cheaper – it would not be wrong to state that the past few months have made the home buying relatively cheaper. Lowering of interest rates on bank loans has bought the vigour back in the sector. Currently, home loan rates are as low as 8.2%. From the end user’s perspective, it means lower monthly EMIs and lesser interest burden. Banks have introduced new home loan schemes offering flexibility in interest moratorium and principal repayments to bridge the gap between affordability and residential demand.
Festive Offers
Lastly, the country-wide slump in residential sales and liquidity crunch has prompted property developers to introduce aggressive marketing tactics. Developers dole out freebies and discounts around festive periods such as Navratras and Diwali. From modular kitchens to air-conditioners, Apple accessories to international holidays, developers woo the reluctant buyer with these freebies depending upon the ticket size. Construction-linked plans, no EMIs until possession, flash sales and cash discounts are just some of the other incentives available in the market today. The market is flooded with offers and incentives from developers, thus indicating a buyer’s market.
It is an appropriate time to buy but not anything or everything. Here comes the role of due diligence and research. Go for RERA-registered developers with a good track record, opt for the best suitable financial payment plan and buy your dream home.
We hope this festive season brings in all the joy in the lives of our readers.