Real Estate has always been considered as one of the most reliable investments with an assurance of better returns if made judiciously, and moreover you don’t need to track the performance on a daily basis like stocks. There are also times when investment in real estate has been compared to that of gold. Apart from this there are couple of reasons that contribute to the reason for real estate investment turning out to be one of the hot cakes in the market:
Market is shining
The real estate market in India is now on its way to reaching the peak. The infrastructure sector is complementing the advancements, developers are coming up with new projects, real estate consultants in Mumbai as well as in other parts of the countries are getting more enquiries and with the raised standards of living, people with higher disposable incomes are eager to take up properties. The trend also includes the demand for independent houses and bungalows, and investors are more inclined towards the real estate industry. Even the branded developers are coming up with luxury and designer houses, which shows that the real estate sector has gained momentum.
Home loans rates are revised by the financial institutes
After the elections, the new Government has amended the home loans rates, thus encouraging people to invest more in the residential properties. Moreover, the concept of affordable housing for all is contributing to this aspect too; where good homes will be made available for everyone
Alternative Source of Income
Investing in a property enhances your income if you decide to put the house on rent. The rental income is a recurring income that you enjoy every month. There are so many properties enlisted with the real estate brokers in Mumbai or other cities, which are available for rent since many people who decide to relocate for career or academics aspirations opt for a rental stay. Even the corporates prefer to have fully furnished houses as service apartments for their top class executives so that they can travel and stay with their family in a house rather than hotels. This shows that the rental market is also in demand ensuring that you have a fair chance to get a tenant at very short notice too
Tax benefits is another major aspect. For instance, the EMI you pay towards your home loans is tax exempted under the Section 80 (C). Hence, you save on the tax part.
Moreover, real estate investment has a good rate of return and serves as an impressive retirement plan too. Either you can stay there and enjoy your second childhood with your loved ones or sell it off to a potential buyer and plan a world tour with your better-half. Real Estate investments appreciate over a period and it is always advised to keep it for a long term that in a way, makes your money work more smartly and while investing, try to focus on the under construction properties rather than resale. And yes, don’t compromise on the quality of the house you are opting for. Even if it is a suggestion from your very trustworthy property dealers in Mumbai or any other preferred cities, get everything checked in terms of legal technicalities and cross verify with a professional advocate, so that you know, it’s worth the money you splurge