- Date : 22/10/2023
- Read: 3 mins
In India, festivals are considered auspicious occasions for property transactions. Besides, here are some key reasons that make real estate investment during the festive season an exciting prospect.
Many real estate developers launch or unveil new projects around the festive period. Buyers and investors also show a profound willingness to book a property during the festivals. Is it just about basking in the festivities? Not quite. There are some interesting reasons why property investment is a good idea during the festive season.
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A 20% increase is expected in housing real estate during the 2023 festive season.
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Developers offer a lot of sops to home buyers during this period. For example, there is a discount of up to Rs 20 lakh in a Mumbai housing project.
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You also get attractive financing offers during the festive period, like the festive season discount of up to 65 bps in home loan interest offered by SBI.
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Delhi NCR expects record festive season project launches in 2023.
Also Read: 5 Affordable Cities To Buy Or Rent A House In India
Steal the Deal
Real estate dealers and developers are seen sweetening the deal during the festive season. This includes discounts and waivers, including free parking, maintenance fee waivers for a specific period, and so on. Such additional benefits make purchasing properties during festivals a wholesome decision.
More to Choose From
Real estate developers often launch their new projects near the festive season. Thus, in the days leading up to the festivals, you will notice a flurry of project launches. With more projects, old and new, you get more choices in terms of property and location. As the festive spirit raises expectations in the real estate market, resellers also look at it as the opportune time.
Financing Gets Easy
During the festive season, banks and financial institutions offer reduced home loan interest rates. There are also waivers or discounts on processing fees and other financing charges. Besides, the lenders often offer extended repayment periods, and give you customised options. You may get flexible EMI or step-up EMI options to make repayment faster and easier. All these developments boost the property buyers' sentiment.
Emotional Reasons
In our society, real estate investing is considered a major achievement in a person’s life. A house of your own symbolises financial stability. And there is no better time to buy a house than during festivals, which are considered auspicious.
Conclusion
All of these reasons make property investment a good decision during the festive season. Besides, investing in a property comes with a few inherent benefits. You save a lot of money in tax deductions, the value of the property appreciates over time, and it has the potential to generate a steady rental income too. Hence, as a buyer, you must find out how to invest in property in the right manner and at the opportune moment.
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Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.
Reference
timesproperty.com
