It is once again that time of the year when festivities take over our lives. It is not only a time to celebrate, but also a time to gift ourselves and our loved ones something unforgettable. And, what can be more memorable than gifting yourself and your family a home!
Why are festivals a great time for home buying?
In India, festivals are an auspicious time for any new beginning, including buying a home. Many homebuyers await this time of the year to make that all important purchase. Besides, it is also a period where many professionals earn bonuses and other allowances, making it a lucrative phase for such investments
Besides this, many developers, such as SOBHA, have also come out with exciting offers. These offers can vary from developer to developer, and can be in the form of discounts on projects, gifts or freebies along with projects, holidays packages, gold or silver coins, free membership for several amenities, no-EMI-until-possession schemes etc.
The banks, private as well as nationalized, are also not far behind in attracting consumers with several offers such as home loan schemes that allow home buyers the freedom of paying the interest after possession in conjunction with no-EMI-until-possession offers from the builders.
Why is this year’s festival season an ideal time to buy home?
This year, buyers have more reasons than festival cheer and offers to look forward while buying homes. The implementation of landmark Act RERA, homebuyers’ interests are protected by making the developers accountable with strict penalties clauses and addressing issues such as project quality and delivery delay. This coupled with reduced interest rates have made buying cheaper over the past few months. In fact, the prevailing home loan interest rates of 8.2 percent are the lowest vis-à-vis the last six years. This makes it an opportune time for home buyers to invest in their dream home.
It is also a period where many new launches are expected in the market, offering a plethora of options to choose from in both the categories, under-construction and ready-to-move-in projects. More importantly, with schemes such as the Pradhan Mantri Awas Yojna (PMAY), first-time home buyers are going to benefit the first-time buyers immensely. Under this, an interest subsidy of 3 to 4 percent is available for homebuyers with annual income of below INR 18 lakh.
With interesting offers, incentives and favourable policies, this is truly a home buyer’s time. So, if you still haven’t found your dream home, look no further. Log on to the Sobha.com to find your home with SOBHA.
