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.

Low-Interest Rates

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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Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.