Why now is the best time to buy a home?

To own a property, especially for first-time homebuyers, is a significant milestone. And why not? It makes a pivotal difference to one’s financial future and gives them the much sought after emotional security. But with the uncertainty that has affected the financial markets during the pandemic, many people are wondering if this is the best time to invest in a new home. To help them make the decision, the Indian government and realty companies such as Radiance are coming up with ways to facilitate the process of owning a home.

Recently, Finance Ministry of India announced stimulus package under Atmanirbhar 3.0 to encourage people to buy home. One such change is income-tax relief to home buyers and developers. The differential of tax relief between the guideline values, also known as Circle Rate, set by the government and market rate set by the real estate developer, is aimed at 20 to 10 per cent on the sale of units valued above Rs 2 crore till June 21, 2021. This will help homebuyers to buy a property that is at least 20 per cent less that the guideline value without attracting tax.

It is worth noting that even with the challenges that this pandemic has bought about to the financial markets across the world, real estate has been relatively better compared to other  economic crisis faced so far. The government, banks and developers have been working to ensure that real estate investment stays as the top investment option.

Another significant reason to invest in property is that there is something for everyone and their budgets today. Whether one is looking for a simple 2 BHK or a luxurious 4 BHK, there is a readily available housing unit to meet the needs of a buyer. With low prices and dream home within their reach, buyers can negotiate a worthy rate for their new homes, especially for salaried middle class. Extra benefits such as access to amenities, complementary car parking etc, are added benefits in the process.

Despite the pandemic, it is estimated that the next 6 to 7 months are the best to invest in real estate because of the low-interest rates, low guideline values and tax rebate, also not to forget that investing in a house comes with numerous financial benefits. The prices are expected to increase in near future, making this the ideal time to buy a house now. Radiance has several projects in pipelines apt for those looking to buy a house for the first time or those looking for an investment opportunity, starting with Radiance Icon and Radiance Suprema. Do get ready to do some property shopping!