These days if you are planning to buy a house or property, then this time will be right for it. Because of the Corona there has been a 46 per cent decrease in the sale of homes in the country during the July-September quarter. This has also reduced property prices. Apart from this, home loan interest rates are below 7 percent. In this case, you will also have to pay work interest on the home loan. We are giving you 5 such reasons, because of this, buying a house at this time will be right for you.
Home loan interest rates lowest
Home loan interest rates are below 7 per cent for the first time. Apart from this, due to reduced credit growth of banks, many banks are also offering attractive offers to customers. Many banks have also waived processing fees on home loans. In such a situation, this is the perfect time to take a home loan.
Property price falls in Corona era
Housing property sales have fallen drastically due to the Corona epidemic. India’s top seven cities declined by 46 percent to 29,520 units during the July-September quarter. According to a report by property consultant Enarock, demand for housing properties has declined due to the Corona epidemic. Sales of homes in these seven cities stood at 55,080 units in the same period last year. For this reason, the right property can be found at low prices at this time.
Property registration is getting discounts
People are shying away from buying new properties due to the coronary period. In view of this, other states including Madhya Pradesh, Maharashtra and Karnataka have announced exemption of two to three percent in the registration fee to give a boost to the property business. Due to this, the final cost of the property has come down.
If you are taking home for the first time, under the Pradhan Mantri Awas Yojana, the government gives a subsidy of up to Rs 2.67 lakh on home loan interest. If you are thinking of buying a cheap house, then through this scheme you can complete this unfinished work. For this, applications can be made from 31 March 2021.
Getting many attractive offers
Due to the steep decline in the sale of housing property, developers are also offering many attractive offers to the people. Due to this you can also get a discount. Which will be right for your pocket and home.