Real estate has been a booming sector till now, attracting the developers as well as the investors to make the most of the situation. Real Estate has always been one of the lucrative and profitable investments which appreciates over time. Apart from that there are other reasons too, which is alluring the investors now a days to opt for real estate like:
The overall scenario seems to be very optimistic and favorable for real estate investment. With the proposition “Affordable Housing for all”, the developers are coming up with the residential properties within the budget of the masses. Even the Tier – II and III cities like Faridabad and Ghaziabad are gaining momentum and attracting investors as well as multinational conglomerates too. Even the infrastructure sector as well as the ancillary sectors are looking optimistic. To take the advantage of this situation the real estate dealers of Mumbai or the metro cities as well as the branded property developers are also strengthening their network to make the most of the situation
Rental market is also booming
With the progress of the country, even the job market appears to be promising and people are migrating to and from different cities thus providing a boost to the real estate rental market too, and they need a place for accommodation. So, investing in property turns out to be one of the profitable propositions wherein you can put your house on rent and enjoy the rental income out of it, which is definitely a recurring income for you. For that, even if you need to hire a broker or real estate agents in Mumbai at your city, then also you are making your money work smartly
Financial institutions are lowering their rates of interest
The banks and the financial institutes have also amended their rate of interest to encourage the masses to invest in the properties. So people opt to buy the residential properties to take the advantage of reduced rate of interest. Moreover there is no doubt that buying a property not only ensures accumulation of wealth but also the long term benefits since it is a permanent asset and people can look up to it as an retirement planning tool. The financial institutes or banks are also in liaison with the developers or the property dealers of Mumbai as well as other cities to ensure that they also earn from this, since a loan is an asset proposition for them
This is one of the important aspects, wherein people can save on the tax by paying the EMI towards their home loans. It serves a twofold purpose, primary being tax saving and secondly, accumulation of a tangible asset for securing the future
Though the specialists or the investors are well versed with the formalities of the home loans, but still I would prefer to remind the home buyers or investors, that while you take up a property on mortgage also insure the loans and yes, try to opt for under – construction properties rather than resale ones.