Biggest and lucrative investment for salary earners is of course buying a property, but before entering into the process buyers need to undertake some good and effectual planning so that the long term investment becomes better and healthy for the future.
Luckily, the one who is looking for the properties in Delhi or NCR that includes Gurgaon, Ghaziabad, Noida and Greater Noida, will be considered to be the great investment for the buyers so that they can double their investment soon.
Properties in the Delhi and other NCR areas have fallen by almost 20 per cent year on year, information given by National Housing Bank’s Residex index, recorded price of just about 26 cities in the country. Also Delhi is the single city where prices have trimmed down in the march quarter.
The major factors that compel to falling the price is the lethargic economic growth, high interest rate and also high inflation have impacted consumer spending. Also developers are in burden due to high debt and inventory level pushing them to fall prices in some market.
In Delhi, especially the towns like Mayur Vihar and Dwarka have seen a drop where buyers can get 2 BHK apartments+hall+kitchen for Rs 65 lakh, likewise apartments in different NCR will cost less depending on the construction and location status.
It is considered property price is not the only factor to take, one should consider other resources.
OTHER DOWNSIDES TO PRICING
The stable government at the centre has perk up the sentiments in the Real Estate Sector, the price has fallen in metro cities whereas, tier-II and III is going to climb by 8 per cent to 10 per cent. New government pays attention on land, infrastructure development that will impel demand in properties
Home loans remained unmoved over the last three years directly because of the slowdown in the Indian economy impacted sentiments among salary people. Arun Jaitley expects the country to come back to sustained growth of 7-8 per cent or more within coming 3-4 years.
EMIS ABOUT TO FALL
High borrowing costs of the properties being a sad part for properties sale, but the EMIs on home loans are expected to fall by 8-10 per cent, recent step by Reserve Bank of India to ease norms for banks to uplift long term funds for affordable housing projects, KPMG said in the recent statement. On the different side, the government has also boost up the freedom limit on account of interest on loans of self-occupied property form Rs 1.5 Lakh to Rs 2 Lakh, this will show the way of additional tax savings form Home loan customers.
