As with all other things coming back to normalcy, the economy too is gradually going back to normal. The spending power of the ordinary man has picked up again to make wise investments. As all sectors begin rising steadily, the real estate investment has picked up immensely. We give you five reasons why it is the right time to invest in apartments in Chennai:
High Returns On Investment: The Central Government is working on the Smart City Project to identify and implement 100 smart cities across India. Over the past 10 years, there has been an average increase of 11.6% in housing returns. The return on investment in real estate has proved to be better than gold which is why people want to make the most of this growing sector.
Government Schemes To Promote Real Estate Investment: The Government and RBI announced the moratorium relief due to the pandemic. This was followed by reduced registration fees and stamp duty charges and many other tax relief measures. The Chennai Government has done its best to promote investment in real estate as it is a major contributor to the GDP.
Reduced Rates: Due to the pandemic, real estate has become a buyer’s market. Consider 2021 as a clearance period for apartments for sale in Chennai. These rates will only be available during the transition period from the pandemic to full normalcy. Now, is the time to take advantage of these rates.
Change In The Scenario In Chennai Real Estate: Many people before the pandemic preferred flats for rent in Chennai, however, the thought process has changed now. Many people are opting to buy flats in Chennai. This change in mindset is because of the loss of jobs, reduction in salaries during the difficult times, a rental home in Chennai could be unaffordable in such times.
Easy And Low-interest Funding: The banks are also playing an important role in promoting real estate. Interest on home loans has come down to as low as 6.7% compared to 8-9% implemented earlier. The home loan processes have also become way smoother and less complicated for the common man.
All these reasons make 2021 the ideal time to be a homeowner of luxury apartments in Chennai. It makes this year the safest to crack a deal and be the proud owner of your dream home.
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