Home is a place where you can let go of all your worries and relax. Having a house of your own is a matter of not only pride and financial security but also comfort and ownership. In the Indian household, it is also hardwired into our brains that owning a home is a sign of financial stability and wealth. Even though it may seem like the right thing to do, it is a big investment. This also brings about apprehensions about making the next move. Let us look at the reasons to buy 1 BHK in Pushpak Nagar, Navi Mumbai.
It Makes a Reasonable Investment
As anyone would understand, investments like a property can benefit a lot in the future. Needless to say that your dream house could be costlier in future. Niti Ayog figures have estimated that currently there is a housing shortage of 25 million. This means the house rates could go up phenomenology in the future. The betterment of living standards with rising incomes, growing urbanisation and spacious households all have a combined effect on the property demand. This means the undersupply and overdemand could lead to a higher property cost.
Take Advantage of the Tax Benefit
Real estate has direct and indirect effects even on the country economy. Real estate is among the largest employers in the country and it contributes significantly to the GDP of our nation. Keeping this in mind the government has taken measures to boost the sector and encourage people to buy a house. The differential between agreement and circle rate was increased from 10% to 20% till June 2021. This is especially beneficial for higher valued homes. It is also a good time to buy 1 BHK in Pushpak Nagar, Dapoli as the Maharashtra government has reduced the premiums to be paid by developers by 50% until December 2021.
Avail the Benefit of Reduced Home Loan Rates
Home loan rates have never been cheaper than this in the past 15 years! In October 2020 The reserve bank of India rationalised the risk weight attached to borrowing above 75 lakhs. This implied that the risk involved for the banks would be lower hence the repo rate was lowered to 7%. Several financial lenders have lowered the home loan rates to as low as 6.9%. This means for the same amount, you can buy a bigger home. Most financial analysts predict that it may never get as low as this in the future hence you should buy a 2 BHK in Pushpak Nagar, Dapoli now!
Conclusion:
The right time to invest in a property is now! With all the factors being favourable to the buyers this would be the right time to take the call. Buying a home will secure your future and enhance your home living experience too.
