Festive season in India comes with loads of offers and discounts. Property market in India draws major revenue from this festive time, thus festive season brings prosperity in real estate market. Builders offer jumbo concessions and tantalizing schemes to clear on hand and exiting inventory housing properties. Specifically during Diwali Season a profusion of such offers like- gold coins, automobile vehicles, kitchen appliance even holiday trips are prognostic. Real estate investors eagerly wait for the festive season thorough out the year to invest on their chosen properties. Therefore this is the period of boon for the property industry. Usually 20-25 per cent more sale is expected than the rest of the year, during this season. As per the banking sources this year there is an uplift of 50% lead with the beginning of the festive season.
This is the ideal time when property buyers can negotiate even with the offer price of any property. Not just developers many banks and financial organizations draw turnouts from this festivals by providing loans on easy terms. In many cases if the property purchasing task is performed under renowned real estate companies property buyers will have some additional advantages coining the affiliation of the very company with nationalized and private banks and financial organizations. In a recent survey it’s seen HDFC Bank reduced its base rate by 35 basis points (bps) to 9.35 percent and other banks likely to go with. Availing loans will be lighter on the EMI clearances.
Since last few years property market has been dormant, even festive offers were not able to fetch any positive wave in the property market. This dull period resulted with overkill supply without proper market assessment, imprecise delays in projects and regulatory snags. Prices too have been unchanged. Property investors went puzzle to point out the favorable time to perform their property investment. But unlike previous couple of years this year has already started witnessing some positive inflow in the entire real estate sales. But when it comes to property investment umbrella guidance is what anyone should come by for instance how much is your actual home loan requirement, how far you could avail from the banks etc. One thing property buyers should always inquire before any property investment whether this discounted price of property is an actual reduced amount not a reduction version of an escalated amount followed by the hidden charges and always look at the credentials of the builder developers and their previous market reputation.
Let’s see what bank has stored as festive offers–
• Wherever there is a builder tie-up banks are offering no processing fee on home loans
• For tech-savvy people Banks have launched home loan apps from where also they can get the processing fee off
• For senior citizens there is a loan of less basic points than the regular loans
• Avail lower interest bridge loans for switching over properties
Property insurance is a mandatory thing which everyone should buy from any trusted bankassurance, it will saveguard your property from any unfortunate hazards apart from natural disasters.
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