This year real estate investment during festival seasons is much more than discount and freebies!
Many of us think of real estate investment but could not identify right time for this. Festival seasons are good time for real estate investment like any other sector like; automobile, consumer appliances, FMCG etc. Home buyers keep on exploring finest opportunities for real estate investment and developers also get ready to compete hard with counterparts.
To begin with September month till December of every year, as per tradition, people prefer buying new things during auspicious days. This festival season is ideal for developers too who prepare to offer whole lot of discount for home buyers. Good part with real estate is that it brings whole lot of cash discount and freebies that includes shopping vouchers, travel trips, household things and even car!
But this festival season has much more in bucket of home buyers. Apart from festival offers, home buyers can get benefits of low home rates, lowest GST, multiple tax benefits and interest subsidy too. Home buyers have ready to move in units with no GST and under construction projects to choose.
“This year, the government has already done a lot of the heavy lifting when it comes to sweetening the deal for home buyers. With this in mind, the government is expected to come up with additional exclusive measures for the real estate sector – expected anytime soon – then it could boost the confidence of investors too. Directing attention to the policy-induced impetus announced by the government recently to attract end-users.,” says Anuj Puri, Chairman, ANAROCK Property Consultants. (Source- Businessworld)
Suresh Garg, CMD, Nirala World says, “We are offering freebies like; stamp duty, registration charge, one year maintenance, car parking, AC, wardrobe, modular kitchen, power back up, lease rent in the ready to move in ready to move in and under construction phase of Nirala Estate at Gr Noida West. After budget 2019, property investment has become ideal option for tax saving because 2nd home is out of tax slab and TDS on rent is also increased up to 2.40 lakh which is huge.”
“We are offering modular kitchen in Fresco till October end but more than festival season and freebies, a home buyer must understand that right now home loan rates are going to come down after directions of RBI, GST is only 5% on luxurious properties, notional rent on 2nd home is waived off and LTCG is not applicable on property up to Rs. 2.00 crore. Govt. is offering multiple tax benefits to home buyers. So benefits are larger than expected in this festival season”, says Dinesh Jain, MD of Exotica Housing.
Hari Om Dixit, Director of Gayatri Group says, “Offers and discounts are matter of entire year because developers are concerned about sale of units, under construction and ready to move in both. But in present scenario, Govt. is very supporting for home buyers and they should not miss this phase. Apart from PMAY benefits, 1.50 lakh on principal and Rs. 2.00 lakh on interest can be claimed by first time home buyers. Additional benefit of Rs. 1.5 lakh is available on homes up to Rs. 40 lakh till March 2020. For 2nd home, buyers can also get benefit under 80 C.”
Iftikhar Ahmad, MD, Nirala India says, “In Aspire project, the company is offering registry free as well as woodwork in first and top floor apartments. In Greenshire, we are giving more than 10 discounts and freebies including free registry, free maintenance for 5 years, semi modular Kitchen and wardrobe etc. But I feel that home buyers should consider real estate investment due to low home loan interest and high tax benefits on amounts paid for principal and interest.”