March 29, 2025
- India is often affectionately called the land of festivals and celebrations. Numerous festivals are observed throughout its various regions with immense excitement and fervor. The tenth day of the Navratri festival is known as Vijayadashami, or Dussehra, and is a significant and auspicious event. It signifies the triumph of good over evil and also marks the beginning of the festive season that culminates in Diwali, the festival of lights and happiness. This period symbolizes the conquest of all internal and external demons, emerging victorious in the battles of life. Historically, various reports indicate a notable rise in property investments during this festive time.
- Auspicious day
In India, the right and fortunate times are highly valued, especially before undertaking any major decision or action. Purchasing a home is among the most significant choices one makes throughout their life. It represents the result of years of dedication and effort, which also encompasses numerous sacrifices made along the way. Dussehra, Diwali, and this entire festive season are viewed as some of the most propitious moments of the year to embark on the journey of acquiring a home for oneself and one’s family. This period is believed to yield success and prosperity in the endeavor. With Dussehra approaching (on the 15th of October 2021), it is the moment to conclude the contemplation and act on your intentions to buy a house. In addition to religious motivations, we will also examine some practical reasons that will support this decision. - New project launches
Just as buyers see this as a favorable moment to invest in new initiatives, builders and developers also view it as a fortunate time to introduce new projects. This presents you with the early mover advantage. However, do not become overly captivated by the glitz and glamour alone. As a discerning investor and buyer, you must carefully examine the documents and prospectus or brochure. You need to ensure that there are no discrepancies in the documentation, registration, and property details. Nowadays, it is relatively easy to verify all the information received and confirm adherence to the required guidelines. The Real Estate Regulatory Agency (RERA) act and guidelines are designed to safeguard investors in the event of any defaults or fraud on the part of the developers, and you should utilize online resources to protect your investment. - Price benefit/discounts
Once you are confident in the trustworthiness and capability of the builder/developer, it is time to take advantage of the benefits that may be available during this festive season. Numerous early bird discounts are typically offered. A percentage discount on the overall price, freebies as part of the booking deposit, waiving off parking or clubhouse charges are just a few of the enticing offers you might encounter as builders and promoters aim to attract more investors for their projects. - Sale schemes
The real estate market had been experiencing a dismal situation for a considerable duration just before and throughout the global pandemic. Due to strict lockdowns, construction activities were abruptly halted, resulting in delays for numerous upcoming projects. Investors also opted to avoid committing large sums to property-related investments. This resulted in reduced housing sales and unsold inventories. To address this crisis, many developers have been introducing innovative schemes to alleviate the issues. This may involve waiving fees on stamp duty and registration charges or implementing relaxed payment arrangements, and even no EMI until possession to protect the investors’ funds and build trust and confidence. - Better home loan deals
Another significant support rendered by the banking sector is the decrease in home loan rates. Banks have also experienced this recession with fewer individuals applying for home loans. The interest earned on home loans constitutes a crucial component of the bank’s revenue, which has been under pressure recently. By presenting lower loan rates and additional offers, such as waiving loan processing fees or providing flexible terms for loan preclosure and repayment, the banks aim to draw in a larger clientele.
- Conclusio
- Clearly, it is difficult to discover a more favorable or timely opportunity to purchase your home. Whether for personal residence or investment purposes, the enticing offers, deals, and schemes, along with decreased interest rates, can render your investment genuinely rewarding. A prudent investor always takes steps to protect their investment. In the case of a home, secure home insurance from a well-regarded and trustworthy provider like HDFC ERGO to enjoy peace of mind and security.
- Disclaimer:
- The above information is for illustrative purposes only. For further details, please consult policy wordings and prospectuses before finalizing the sales.
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