It is true that owning a house is a distant dream for many city dwellers. In fact, the exorbitant real estate prices compel people to stay in the rented properties. As several trends and events are taking shape now and then, the city dwellers expect to get their dream turn into reality. The government’s surprise and smart move to come down hard on the black money hoarders will be having a cooling effect on certain pockets of India’s residential market
The recent ban on the high-value currency notes is expected to provide a positive side effect in the real estate industry. Homebuyers will experience a downward stress on the interest rate structure. Certainly, this will be a relief for buyers who are unable to afford the high EMIs on home loans. Now, related to all these factors, real estate developers have also decided to turn towards the affordable housing segment. In fact, this effectively opens up another great avenue for people who find themselves priced out of the market especially in the metropolitan cities.
Several states are likely to put into effect the buyer-friendly provisions of the Real Estate Regulatory Act. Thus, homebuyers can look forward to more transparency now. Needless to say, that this would provide the buyers protection from unscrupulous practices and delays in both construction and handover as well. Let us check out the benefits of real estate investments as follows:
Cheaper Home Loans
Due to demonetization, the home loan rates are assumed to come down by 7-8% because the banks and other financial institutions will be completely flooded with funds, thereby, driving down the interest rates on loans and deposits. So, this means owning a home is no more a burden, in fact, it is much easier now.
As there will be lower interest rates, EMI overheads will be dropped. Thus, apartment buying will be easy. In fact, the apartments will be available within the reach of the homebuyers.
Believe it or not, but when buying an apartment has become good and advantageous for both the investors and end users with lower interest rates, then the real estate industry is sure to enjoy a massive boost.
With demonetization, there will be maximum money flowing in the banking system from individuals in the small scale/unorganized sector. In fact, a huge number of people will be entering the banking system, making themselves entitled to bank loans, thereby, fulfilling their dreams of owning homes.
So, when are you planning to buy your 2 and 3 BHK flats in Kolkata? Hope, the above-mentioned points will now boost you up to invest in your dream home without any second thought.