Is this a right time to invest in real estate?
by MICL Group on Apr 11, 2022
Wish to invest in real estate and have doubts about it? Well, much to your surprise this is the best time to invest in real estate. Wondering why? Let’s clear your doubts.
The triple ripple
The face of real estate sector changed when government came up with three remarkable things i.e. demonetization, implementation of Real Estate Regulation Act (RERA) and Goods and Services Tax in 2017. These factors brought in transparency and efficiency to the real estate sectors. Since the implementation of all these acts & regulations, real estate companies in Mumbai and other cities made vital and necessary changes to their business model. With these three factors, home buyers can now be carefree when it comes to real estate investments.
To live up to the dreams of Prime Minister, Narendra Modi and his vision for affordable housing, many real estate developers in Mumbai are taking a step towards it. Today, you will find beautiful homes at affordable prices in different parts of the city.
Low home loan rates
In the year 2016, the home loan interest rates were recorded at around 9.5 percent. But now, due to excess liquidity in the banking systems, the rates are floating in the range between 8.3 - 8.4 percent. This leads to considerable savings on the EMI cost and has also enabled people to avail low-cost home finance. The good news is that the rates will remain low for several quarters and may even come down further in the future.
All these three things have urged people to make their future investments in the field of real estate. These factors are also beneficial for the real estate companies in Mumbai and other cities as with increasing home buyers, their profit range also increases. To encapsulate, this is the right time to invest in real estate sector as everything in this sector is in your favour.