Home Buyers Cheer-up!
Happy news awaits you. Who says real estate market is experiencing a slow-down, it is rather in its strongest form ever. Ready to bloom advantages not just to the developers but to the investors as well.
Here are the three prime reasons supporting our claim –
-
Property prices have recently undergone correction with no further hope to fluctuate. Right time to grab, the perfect opportunity.
-
This have never happened over the past two decades, the home loan interest rates are at their lowest.
-
Immense supporting is flowing in from the government as well. Home buyers can now take advantages of the recently announced incentives and schemes.
Also, with Real Estae Regulatory Bill soon coming into play, the Real Estate will become an investors hot bed. All the transactions will be clear and open, plus buyers will have full security. RERA will not only be advantageous for the local but NRI’s investors as well.
Must Read: RERA – What all it has for the prospective property buyer?
Taking about government schemes, here is a brief mention about Pradhan Mantri Credit Link Subsidy Scheme and Chief Minister Awas Yojana.
-
Under Pradhan Mantri Credit Link Subsidy Scheme (CLSS) an upfront interest subsidy of up to INR 2.3 to 2.5 lakh will be offered to a buyer having an annual income of up to INR 18 lakh.
NOTE: The beneficiary or any of his family member under the above scheme can not be a owner of a pakka house.
-
Coming to Chief Minister Awas Yojna, the Stamp duty of INR 50 (for EWS) is now exempted. For the developers there are benefits like full wave-off of approval fee, height & ground coverage relaxation and increase in the limit of free FAR (from 1.33 to 2.25)
