Reasons to Invest in Property this Festive Season

The Indian festive season is considered to be the most awaited as well as the auspicious season for property and home buyers to make some big investments.

The period is usually marked by a number of offers, new project launches and a lot of other deals that attract more and more customers.

Here are some reasons as to why the festive season is the right time for real estate investments.

1.       New Project Launches

It is during the festive season that a lot of developers launch new projects. They consider this an auspicious time for any launch. On the other hand, a lot of property buyers choose this time of the year to make any big investments. So the festive season rightly works for both the real estate developers as well as the home buyers.

2.       Festive Offers

To attract customers, turn them into prospective buyers and meet their sales targets, a lot of developers come up with various schemes and offers during this season. The schemes can be ranging from finance schemes to giving something for free. Offer! Free! Sale! Discounts! Are words that make people happy, and all this on the festive season is surely the cherry on the cake.

3.       Low Interest Rates

The festive season is usually the time when banks take the initiative to reduce the interest rates on property loans. For example, RBI this year has reduced interest rates to a four year low irrespective of the loan amount which has worked for the betterment of the customers. This move by RBI is expected to lower home loan EMIs by 8-10 percent.

4.       Increase in Disposable Income

This is the time when companies generally announce appraisals or bonuses for their employees. This can serve as a down payment option for buyers with a sense of financial security. These slight increases in incomes can come as a big relief for home buyers as they can invest their money in their dream home.

Gift a luxurious home to your family this Diwali and save up to Rs. 10 Lacs at any 2BHK and any 3BHK. Gopalan Lakefront offers you ready to move-in flats in Electronic City 2BHK at Rs. 73 Lacs and 3BHK at Rs. 90 Lacs, any size, any floor. Hurry, book NOW!

Is it better to buy an apartment or independent house in Bangalore

Selecting a better location would give a better appreciation of your investment. While some people select independent houses, others prefer apartments. Usually, properties having high rates in metropolitan cities like Bangalore so most of the home buyers look at apartments as their preferred choice.  These come marginally less expensive than independent homes. 

While an apartment property comes with all the amenities such as parking spaces, security, power back-up, fire safety mechanism in place and water system, an independent property needs extra effort for setting up all these services.  It is estimated that one needs to spend 2-3% of the total property value on these amenities around an independent house.

In case you are planning to take a home loan for buying a property, it is difficult to get the loan for independent homes than an apartment. Loaning banks regularly prepare a list of sanctioned projects where buyers can easily get their loan approved. However, banks sanction loans after strict investigation of borrowers for independent properties.

The independent homes need constant efforts for cleanliness, maintenance, construction, and repair. It has been observed that the cost of maintaining an apartment property is less than that required for an independent house. However, the maintenance is taken care of by society’s RWA in apartments.

The Real Estate industry estimates suggest that apartments are more in demand now. Real Estate developers in Bangalore are now bringing apartment projects with a mix of plotted developments. If you decide to sell your property at a later stage, it is simpler to sell an apartment. Within apartments, 2 &3BHK apartments are the most in-demand in Bangalore. 

If you want to buy a property, do your groundwork on all the above parameters.