Why Buy a New Home during Akshaya Tritiya?
Akshaya Tritiya is just around the corner and viewed as the perfect occasion that draws people to invest in the most profitable asset Akshaya means eternal or one which cannot be destroyed and Tritiya implies the third day of the bright half (also known as Shukla Paksha) of the Vaisakha month. Each moment of this day is considered propitious that provides higher returns over a long period of time with the assurance of non-diminishing (‘akshaya’) good fortune. Especially, the first-time home buyers look forward to this day to purchase a new house and prefer conducting griha pravesh in their newly bought residence. For believers, there could be no better alternative. The popular belief behind Akshaya Tritiya is that anything initiated on this day, will continue to grow, and prosper.
In practical sense, it is the beginning of the summer where the schools close for summer vacations, and there is essentially a whole month in hand during which one can easily relocate from old residence to a new one.
Reasons why it’s the best time to invest in a home:
Builders in Mumbai provide attractive offers and schemes with payment plans that make this occasion even better. Buyers can leverage these and save money, thereby, making the property more affordable. In addition to the discounts offered by the builder, the buyer should also check for the project’s approvals, title of the property, background of the developer, his past projects and their delivery timelines, quality of construction and amenities, and compare these with other new residential projects in Mumbai. Buyers should also evaluate the locality and its accessibility.
Lower Interest Rates:
Declining interest rates from lenders has added colours to the festive season especially if you are an aspiring home buyer. The whole housing finance industry is transforming on the wave of positive changes in the lending landscape. With a lot of positive sentiment driven by the downfall in the interest rates and opening of housing sector by new schemes announced by the government, real estate off take is going to see a positive upturn which was long pending.
A matter of timing:
Given the fact that in the past few quarters the residential market has seen a revival and a steady rise in capital values, there has been some slowdown in demand for mid ranged and affordable housing segments in general; additionally in the early part of year, demand tends to slowdown, due to some economic structuring owing to the announcement of the budget, also coinciding with salary revision for the salaried sections. This year, the festival of Akshaya Tritiya is well timed falling soon after the end of the budget year. This may be a catalyst for some end users to reconsider their purchase decisions
If one can afford it, investing in a property that generates rental income is a great source of passive income. With the rentals and property prices increasing at a steady pace, one can benefit not only from the steady income stream but also from the capital appreciation on the property.
Income Tax Benefits:
You are entitled to several tax benefits when you a buy property with a home loan. Here is an analysis of how you can save money. While most people may be broadly aware of home loan tax benefits, there are several other nuances that help you avail deduction on interests.
Akshaya Tritiya could prove to be the turning point as real estate companies in Mumbai notice a relative spike in bookings around this time. Mumbai and Thane are the ideal destinations for potential home buyers looking at making the most of this auspicious occasion. For those looking at investing in a home in Mumbai, The Address in Ghatkopar is the most ideal property.
For those looking to invest in a residential property in Mumbai, The Address is the most luxurious gated community in Ghatkopar. It is thoughtfully placed in one of the prime locations that offer seamless connectivity to eastern suburbs, western suburbs, and Navi Mumbai. The Address provides an experience of ultimate comfort with social amenities like malls and movie theaters, educational institutions and hospitals in its proximity. The property offers a living space that redefines opulence amidst over 65% of open space. It is meticulously set amidst lush greenery and a plethora of world-class lifestyle amenities.
Besides, The Address is an iconic structure in one of the richest heritage suburbs of Mumbai that redefines the entire skyline of Ghatkopar. Moreover, it provides a varied range of apartments across Panorama, Vista, Boulevard, and Promenade. These 18 acres of luxury offers a wide range of amenities, which includes a clubhouse, a fitness gym, a squash court and a table tennis room. It also provides meditation zone, grand banquet hall, open spaces for children garden, toddlers park and 4 swimming pools, amenities that renders to dwellers of all age groups. One can avail travel vouchers worth Rs. 1 Lakh on booking a flat in the property by paying just 5% of the cost, which starts at Rs. 1.80 Cr*. This offer is valid till 30th April 2017.
Indians are traditional by nature and even younger buyers who are influenced by the older generation do believe in this being an appropriate time to buy. There are new launches as everyone considers this an auspicious time to buy. In other words, this period is unlike any other part of the year, and makes perfect sense to invest in a property around this occasion.