Real estate gears up to fight covid impact

Covid wave 2 seems to be the best time to become a homeowner

Covid 19 may have drastically affected the real estate sector, but dont let that stop you from buying your dream home... 

Lowest interest rates of the Decade

Interest rates on home loans have never been lower, making EMI’s less burdensome. While some may argue an increase in inflation, suggesting interest rates may go up, experts believe it’s highly unlikely given the current scenario. The RBI has stated that it currently aims at focusing more on supporting growth, regardless of the fact that inflation is expected to remain on the higher side at about 5% throughout the year, Also, decline in demand of credit from corporates is why banks are unlikely to increase deposit rates that lead to high interest rates. 

Construction delays not a deal breaker

Due to the lockdown imposed last year, construction activity was halted almost completely; however, this time around the lockdown rules weren’t as stringent, some activity continued even during the lockdown. This also meant labour problems weren’t as severe doing the second lockdown, and seems to be improving as with time. Although it’ll be best to go for a ready to move house at this point of time. 

DISCOUNTS, OFFERS AND LOT MORE PERKS

To boost sales in the real estate sector, a few states, including Maharashtra, slashed stamp duties for a limited period resulting record sales in Q1CY21. Although Maharashtra government has not extended the stamp duty cut, experts say developers are offering adequate incentives to homebuyers such as easy payment plans, paying rent till possession, additional discounts etc.

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