The demand for real estate started declining from the year 2013. By 2016, it hit an all-time low; the entire market was going through a bearish stage when it was affected by two main black swan events. That is the introduction of RERA in 2016 and then demonetization of Government that demonetized high-value currencies, which in turn washed out 2016 and 2017 for residential real estate. However, the impact of these is only short term and it will not have a long-term impact. I.e., it is true that the residential demand, sales and supply took a hit on the back of uncertainties surrounding RERA and GST. Though, with the improving clarity on GST & RERA, sales are expected to revive across categories and budget segments.
3 Reasons Why You Should Not Delay in Real Estate Investment
Are you looking for the right time to invest in a real estate property? Real estate investment is a big decision in one's life. Before you become the owner of your home, its undeniable that you should go through multiple processes. Most of the home buyers consider these processes as daunting as hard to make them feel like putting off their decision to buy a house. Now, its the right time as the real estate sector is seeing a dramatic hike in demand due to reasons such as rise in population, business developments, Better infrastructures, developed areas, Increased jobs in the IT sector and many more. The real estate sector is gone through a lot of changes to make the buying process simpler than ever before. Here are 4 compelling reasons why you need to invest in property at the soonest.
Consistent Property Rate Hikes
Real estate is possibly a kind of safest investment one can ever proceed because it's almost sure to gradually increase its value over time. New areas are coming to hotspots when cities expanding and new MNC's set their business to new outskirts. Apartments in Thrissur especially in Poochatty are quickly becoming investment assets. From a buyer's point of view, this is the perfect time for you to invest in a property in this locality. Prices are affordable and comparatively low, but graphs predict a significant hike in the coming few years. This is why home-buyers should seriously consider investing in localities like Poochatty. While apartments in Thrissur might not cost you much now, it will become very expensive if delays for a few years. Investing in the right property without any delay would double the cost in the next few years.
Paying EMIs For A Tangible Asset
Paying EMIs for your asset holds significant importance in different aspects. In many cases, investors end up paying an EMI which is only slightly more or almost equal to the rent they would be paying. So wisely investing in an apartment adds the advantage of actually living in own property without the hassle of dealing with adamant landlords. The drastic increase in property prices is a piece of great news for buyers, but surely it is not pleasant news for renters. Home rents are attaining a great cost mostly in prime localities of the city. If you are in a rented home, then a good amount of salary goes this way. It is not a feasible option for the long term, it makes sense for you to spend that money into paying an EMI. By doing so, your money is going into something that provides you returns.
You Will Get Tax Benefits
Wouldn't you want to save money on your taxes? Investing your money in real estate is one of the best ways to take benefits of tax cuts. With the correct investment in real estate, you're making money in the long term and saving money in the short term. Exemption of tax in any way is a big relief and the single amount you saved now is worth more in the future.
Real Estate Reforms Have Made The Buying Process Easier
There's no time like the present to invest in real estate for a potential home buyer. Simplifying the process impressively for homebuyers has changed the overall appeal or real estate investments with better reforms. Real Estate Regulatory Authority (RERA) has changed the real estate market in India. RERA has shaped in the form considering the favors of Investors by ensuring the terms of developers more transparent. This reform encourages the home-buyers to invest especially on apartments in Thrissur.
So, finally, you're planning to invest in a home of your own, then consider the best builders in Thrissur. The superior quality of construction and excellent apartments in Thrissur is a perfect choice for first-time home buyers.
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