This Diwali real estate market of Kolkata brings excellent opportunities of investment for the property buyers. Like the other prime investment sectors real estate items are also equally vital and favorable possessions. Basically real estate investment is done for cropping higher resale value or better rental return. Nevertheless every year during this auspicious occasion real estate market has decked-up with attractive offerings and heavy concessions to attract modern day property buyers. The entire property market waits for this festive season for market upsurge. Here are few reasons why you should invest in real estate sector in this Diwali-
1. Offers! Offers and Offers– India is a country of rituals and customs. Most people consider this festive season as a propitious period for any prior and heavy-weighted investments. Diwali is the festival of brightness and prosperity. Developers promote their existing and inventory properties with eye-popping offers and well-packaged discounts. This year also market is flooded with such discounts such as – lucky draws, gold coins, TV, AC, Fridge, kitchen appliances and even abroad holiday packages. For example- a Noida based construction company is offering Rs 50,000 to 1.25 lakhs cash coupons, lucky draws to win microwave, microwave washing machine, refrigerator etc. Apart from these material offers builders also provide heavy concession on registration fee and stamp duties.
2.Company offerings– Indian companies generally give away bonus to their employees and mid-year appraisal during October. Most people use this excess amount to mount up their down payment or even clear up their ongoing EMI of house loans. With the declaration of yearly fiscal budget, the tax release statement for the general category for individual tax payers was raised from 2-2.5 lakhs. Accordingly bank and financial organizations raised the exemption limits of home loan interest from 1.5 to 2 lakhs.
3.Lower interest rate– Banks and financial organizations offer low interest on home loans to boost up real estate sale. To support home buying this year RBI has reduced interest rates to a four-year low to motivate the property buyers. This initiative is likely to have impact on the existing EMI rates of home loans. Market experts suggest that this move of RBI will deduct the EMI of a home loan borrower by 8-10%
4.New property launch– Festive season feels incomplete without exhibition of new launched properties. Builders move up with new constructions to capitalize the increased market demand. This is the hopeful season for the property market to recover from the earlier selling sloths. This year with the announcement of affordable housing 2022 scheme by the central government builders are targeting lower and mid-income group home buyers to stretch their footsteps into real estate investment. Besides fat discounts on registration charge and stamp duties might act like trump cards for the builders to bring in more inflow to make progress in market slowdown.
There are plenty type of properties around every corner of Kolkata’s real estate market to satisfy every class of buyer. If you have fascination for north Kolkata, choose an ideal Flats in North Kolkata as per your requisite.