Reasons to buy a property before 2017 ends

July 20, 2017

Do you plan to buy a property anytime in the future?

If the answer is yes, you are doing the wrong thing by waiting.

Making a real estate investment is indeed a critical thing!

Frankly, it takes away all your savings at once.

However, don’t you think the returns are worth it?

We have all faced the dilemma of planning but the constraints seem more binding every month. Again, the expenses increase, and they are always 10% more than the current salary. But, still we manage to save some and we manage a lot of things too.

You can not afford to sit back home unless it is making you big bucks.

See for yourself, how much renting even a single room earns you especially in a metropolitan city. Nowadays the paying guests, and there are so many other ways that house, your one-time investment makes you money.

Yes, obviously, it is a big investment to work.

No, my friend, you wouldn’t regret it anytime in the future.

On our viewer’s request after a recent post, Spacio Realtors bring you top 6 Reasons to buy a property before 2017 ends:

1. Price is the lowest they can be anywhere in the future

Whilst the prices keep on increasing, now is the lowest they can be anytime in the future. With all the development projects, new laws, plus, increasing population, what do you expect?

Even in the past, 95% of all the times, prices have only shown a straight rise

Reading ahead, you would know why will there be a significant one in the coming future.

There has been a prominent increase in foreign investment and Indian real estate is expected to touch the US $180 Billion by 2020 according to Indian Brand Equity Foundation.

2. Influence of Demonetization

Most of the real estate transactions were made in the form of cash prior demonetization. It is no secret how much black money influenced the business, on the top of which there was zero transparency. The banning of 500 and 1000 Rupee notes, came as a shock to all.

With demonetization coming into action, there is some decrease in the property prices.

You can check the property trends of Mumbai by clicking here.

Post demonetization, the demand dropped significantly creating a bigger room for negotiations. For obvious reasons, when the demand is bigger, you can not really expect the price to be dropping.

3. Smaller interest rates

From 8.25 in 2011 to 6.25 in 2017, The Reserve Bank of India decided to keep the repo rate unchanged for the year.

A recent report by RBI, from the weekly update of statistics made, is evidence of this.

To comprehend this better, you should be very clear about the investment made in Renting and purchasing, especially for the latter. You must have a very clear picture of how much basic investment i.e. liquid money you are required to have to make a purchase and how much will it cost you later including the hidden prices.

Must Read: Rent or purchase, things to consider before making a choice.

4. You will be thankful for your decision a year from now:

Property investment, especially in Mumbai, the city which has been on the top of the list for being the most benefit in terms of Real Estate investments.

You can check this research report to know how much growth potential Mumbai, and Pune properties hold.

And, for the matter of fact, we have seen some significant rise in NRIs looking to make property investments in Mumbai specifically.

Taking into consideration the many reasons there are, I bet, you will look back in a year and be thankful for the decision you made today.

Post Demonetization, transaction value and quoted value are prophesied to be close to guideline value.

5. India’s development pace

Haven’t you heard about the GDP yet?

Indeed, it decreased in the recent past, but with the same government, it was more than expected in 2016.

Post demonetization, Income Disclosure Scheme 2016 and Make In India project, you can well imagine what is going on.

The purchasing of foreign goods became more expensive with the drop in the value of Indian Rupee, then the export price reduced.

Clearly, export is benefited!

In current fiscal, GDP dropped to 6.1%

And, this is the reason that the value of Indian Rupee is expected to increase in coming future, and GDP is expected to reach 7.1-7.7% in 2017-2018.

Our growth rate is more than that of China’s!

6. RERA empowered the buyers:

Lately, we have been posting a lot about RERA on our blog.

Needless to say, that it empowers the buyers by bringing much-needed transparency in real estate transactions.

With the Real Estate (Regulation And Development Act), 2016, buyers can finally feel secure about their investment made.

Plus, it also obligates the builder to be more conscious about what he confirms and what he delivers to the investee.

You can read our post about, Rights of home buyers under RERA, where we have discussed the many ways buyers are

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