Why this festive season is the best time to buy a property.
Oct 13, 2018
The great Indian festive season is back. And so is shopping galore, with festive deals on everything from clothes, electronics, jewelry and vehicles. Buying a property however during this time is considered the most auspicious investment. Here are a few great reasons why you must consider buying a house now.
New property brings in prosperity
While Lord Ganesha is considered to bring in good luck, Goddess Durga is believed to shower upon prosperity during Navaratri. Dussera and Diwali celebrate the homecoming of Lord Rama. According to Hindu traditions, these ocassions make for a successful phase to inaugurate newly purchased land or new ventures.
Property prices are low
While builders continue to develop newer, innovative projects, they have opened up to liquidating their existing inventory in order to recover cost post the recent realty slowdown. For those of you who love to negotiate, this is the perfect time to strike a favourible deal on your new house.
Low Home loan rates mean lower EMIs
Reserve Bank of India’s recent move to lower the Repo rate has lead to Home loan interest rates as affordable as 8.2%. Banks are offering flexible prepayment schemes to further encourage the home loan seeker. What more! First time home buyers with annual income lower than Rs. 18 Lacs are eligible for interest subsidy of 3 to 4% under the Pradhan Mantri Awas Yojna (PMAY).
Festive deals, discounts and freebies
Like all other business segments, builders are also motivating buyers to seal the deal with attractive offers and cash discounts. Sweep off sweet schemes like stamp duty & registration waive-off, free gym memberships, international travel vouchers, modular kitchens, air conditioners and gifts like gold coins.
With so many compelling reasons to invest in a property, celebrate your favourite festivals this season, in your new home.