- By Aditya Pratap Singh
- Mon, 28 Oct 2024 04:40 PM (IST)
- Source:JND
The festive season in India is marked by celebrations that bring a sense of prosperity and new beginnings. For many, it is also considered the most auspicious time to make significant life decisions, including purchasing a home. As developers launch new projects, offer exciting deals, and banks provide attractive loan options, the festive season emerges as the perfect time for potential homebuyers to invest in their dream property.
The Indian festive season is marked by celebrations that bring prosperity and a sense of new beginnings. Many consider buying a home in the festive season can be the best decision in life. This is the time when real estate developers are launching new projects, providing attractive deals, and banks are offering attractive loan options, this particular season comes out to be the apt time when homebuyers would want to invest in their dream homes.
The newly introduced projects are typically launched at introductory prices, which are invariably less than the rates charged normally. An investment made at this stage also means that you can enjoy a better price appreciation over time as the project goes on. Further, the buyers get access to premium units in top locations with more choices in layout, view, and design.
Luxury Property Sale Surges In Q1
For instance, the luxury housing segment has seen phenomenal growth in Q1 2024, with a rise in the number of transactions over previous corresponding periods. According to the latest data shared by Anarock, Delhi-NCR witnessed an over two-times increase in sales of luxury homes priced above Rs 1.5 crore to 13,630 units in January-September this year on better demand and supply.
Data illustrates that there were 6,210 luxury home sales in last year's January-September period. The festive season is expected to boom in the real estate sector with increased buyer interest, strategic project launches, and a rise in the number of investment deals.
Siddharth Katyal, CEO, of Bhumika Group, said, "The festive season often brings a renewed focus on real estate investment, and this year is no different. Areas like Faridabad and Gurugram are seeing increased attention due to upcoming developments, enhanced infrastructure, and the potential for long-term growth in both commercial and residential sectors. With developers offering attractive deals and exclusive offers during this time, it's an ideal moment for buyers to make a smart investment in their future home."
This is also a time when banks and financial institutes provide special schemes for home loans at low rates of interest, reduced processing charges, and faster approval. These attractive options can make homeownership more affordable, allowing buyers to secure their dream property with minimal financial stress. Moreover, with repo rates being consistently kept low by the Reserve Bank of India, this makes it possible for customers to lock in competitive home loan rates that save them money in the long term.
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Salil Kumar, Director-Marketing and Business Management, CRC Group, said, “The post-pandemic recovery in the real estate sector has been strong with rising demand for residential properties. Today, people seek spacious homes, high-end amenities, and a secure environment. The festive season, with its symbolic significance and financial benefits, further encourages people to take the step into homeownership. With the rapid urbanization and an increasing demand for sustainable infrastructure, this period could prove crucial for those looking to capitalize on growth in the real estate sector and invest in their dream homes.”
In uncertain times, real estate has consistently proven to be a stable and reliable investment. Unlike other investment avenues that can be subject to market volatility, real estate offers the potential for steady appreciation in value over the long term.
With the festive season providing additional incentives, it’s a great time to park your money in a tangible asset that not only offers financial growth but also fulfils the aspiration of owning a home. There are tax benefits for homebuyers that have made real estate investment more appealing.
