Dhanteras and Diwali It has always been considered an auspicious time to buy a house. It has been believed for centuries that festivals bring prosperity. Dhanteras and Diwali festivals are considered culturally the most auspicious in India. That’s why a lot of people book their dream home. Historical trends also show that around 25% to 30% of property bookings in India happen during festivals. Developers also come up with many attractive offers and special schemes to capitalize on this opportunity. This provides huge savings to home buyers. On the other hand, there is tremendous sale of property. We consulted with veteran real estate experts and Rakesh Yadav, CMD of Space India Tried to understand what is the trend in the real estate market this time and why should one buy property at this time? Let us know.
Why is now the best time to buy a home?
During the festive season, most developers are offering huge discounts and attractive schemes to home buyers. Rakesh Yadav says this is the perfect time for home buyers and investors, as recently there has been an increase in interest in the real estate market, especially luxury and premium housing. This trend will increase further in the coming times. This will increase the price of property. So waiting now is not right. Yes, it is important that home buyers do their research beforehand to get the best deal. Talk directly to developers to get the best deal on the property of your choice. Then negotiate. Considering the serious buyers, developers are offering good deals at this time. Moreover, the Reserve Bank of India has further strengthened market confidence about keeping interest rates stable. Low interest rates on home loans and festive discounts are providing double benefits to buyers.
Trend shifted from affordable to luxury
This festive season, the real estate market is seeing the highest demand for luxury homes. With the increase in people’s income, the scope of thinking has changed. With the new generation having more disposable income, changing lifestyles and increasing preference for larger, aesthetically pleasing homes, there has been a significant increase in demand for luxury properties. The demand for luxury projects offering all world-class facilities under one roof has increased rapidly. The demand for luxury homes in cities shows that lifestyle these days is not just limited to living spaces but expresses the luxury price one is willing to spend on homes. There is a growing interest in gated communities, integrated townships and all such projects that offer amenities like green space and smart home technology.
Investing in Real Estate: The Safest
Historically, real estate has been one of the safest and most profitable investments. The value of properties increases over time, and has always given great returns regardless of market fluctuations. In such a situation, if someone is buying property for investment then this is the best time. He can take advantage of attractive offers and get the best deal.
