Following months of slowdown following demonetisation, the Indian real estate sector is back on a growth trajectory. According to CBRE, housing sales are expected to gain momentum this year with 200 million square feet of space being added across all segments. If you are looking forward to investing in a property, this is the year to do so because of the following reasons:
- Easy availability of home loans
Thanks to multiple housing finance firms along with non-banking financial companies (NBFCs), availing home loans is a hassle-free affair today. Also, credit-linked subsidy scheme available under Pradhan Mantri Awas Yojana (PMAY) aids you in availing home loans at a subsidised rate.
With several lenders, you have the luxury to choose to negotiate and zero-in on the lender who offers you the best possible rates at favourable terms and conditions.
- A gamut of choices
When it comes to investing in a property, buyers look for options. Today, they have plenty. Right from affordable housing to luxury projects such as Sunteck City Goregaon, there is ample to choose from. Depending on your budget, needs and preferences, you can invest in the property of your choice.
There are many portals which list properties based on several parameters, such as location, price, amenities, etc. You can use these portals to zero in on the property you wish to invest in. Be it a property in Mumbai or anywhere else, everything is available at your fingertips.
- Better financial checks in place
In the past, the lack of proper financial checks led to over-gearing. Also, there have been cases of developers delaying possession. However, with the establishment of Real Estate Regulatory Authority (RERA), these bottlenecks have been addressed to a great extent.
Today, as a buyer, you get a holistic picture of the development of any project through RERA, which aims to protect your interest.
- Reduction in GST rates
Reduction in GST rates on under-construction property along with affordable housing is another reason to cheer about for homebuyers. Note that GST Council had slashed GST rate on under-construction housing property from 12% to 5% and that of affordable housing from 8% to 1%.
From a buyer’s perspective, the reduction will bring down the cost of home-buying to some extent and help you make significant savings in the long run.
Home Loans from Bajaj Housing Finance Limited give you the funds to invest in your dream property. Be it a 1BHK flats in Mumbai, along with funds you also get in-person assistance for site visit and documentation.