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15 NOVEMBER, 2019
Diwali is one of the most auspicious occasions of the year. These days have given prime importance in the Indian culture. Diwali is considered as the best days to purchase or invest as many people believe that transactions made on these days turn fruitful in the future. That is why, from the real estate market to gold, people proactively invest high-ticket products.
The property developers or marketers also introduce newer schemes to encourage home buyers. Furthermore, the home finance providers also see the festive time as an excellent opportunity and incorporate many good schemes and offers to encourage home buyers. If you are thinking to invest in real estate, here are the reasons why festive season will be the perfect time for it.
Availability of many options
When you are planning to buy a new property, the festival season is the right time to invest in the real estate market. The property developers take advantage of the festive season to encourage buyers by launching new projects with attractive offers and schemes. Developers also launch new phases of their existing projects. You will have a lot of options from which you can select the one that you like the most.
Availability of sales offers
Festival is the time when construction companies target to boost their sales. For this, they introduce various schemes adding value such as gifts on the purchase, no EMIs till possession, etc.
Reasonable cost of properties
This year, the real estate market is stabilising. The property developers are trying to recover the sales value. As a result, a significant increase in price is not reported. Therefore, you can take advantage of this opportunity of stable cost to invest in the real estate market.
The interest rates offered by lenders play a critical role when you are planning to take a home loan to invest in real estate. During the festive seasons, banks and financial institutions offer attractive home loan interest rates. So, investing in real estate will be financially beneficial for you during this festival season.
Introduction of Repo Rate Based Lending Rates
RBI has mandated to use an external benchmark to decide the interest rate on home loans. From 1st October 2019, the interest rates on all new home loans from banks will be Repo Rate Linked Interest Rates. As a result, whenever the repo rate goes down in the future, your home loan EMIs would show a proportionate drop.
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