Different people want different things from life but everybody wants to live in their home. But what people of our great nation, especially the ones residing in Pune, NCR, Mumbai, Chennai, Bangalore and Hyderabad are not realizing is the fact right now is an opportunity like no other to finally buy your dream home. Here’s why.
Real estate developers based out of these 6 metros have significantly reduced the number of new project launches in the past many months. The main reason behind this is the prevailing oversupply in the market for the past whopping 8 plus financial quarters. When compared to last year’s JFM quarter, the new project launches have dropped by a staggering 50%. Though the demand for real estate has rather remained on a stable side, developers are strategically looking to dispose of the existing inventory. But if experts are to be believed then new launches can be back on track within the next six months or so.
As far as the prevailing prices in the real estate domain are concerned, experts believe that the prices will remain constant in the coming six months as well because of the less than motivating demand from investors and end users alike. Bu the long term outlook looks extremely promising and will lead to a hike in price of all residential projects. Thus one should seriously consider buying their dream home right now.
The game changing real estate bill is on the verge of being passed in the parliament, the demand for office space is rising by the day, REITs are in place and the Indian economy is expected to witness an outbreak of growth. Add to this the ever increasing disposable income of people and the cheaper home loans and you know why the demand for real estate is expected to sky rocket. A plethora of surveys which gauge the sentiments of buyers and sellers also predict revival of sorts in the real estate arena. The financial and national capital of the country, Mumbai and Delhi are rightly expected to be at the helm of the real estate barrage.
So if you are an individual on a home hunting spree then there is no opportunity like present to fulfill your long standing dreams. One should take into account that the bargaining power lies with the buyer, so don’t hesitate in asking for the best deal possible. Developers are also offering from their end, hefty discounts and various other lucrative schemes like free gold coins, free flats, international trips, complimentary parking space amongst others. So don’t think twice because the prices might rise in the blink of an eye. Do not postpone and purchase the home of your dreams today.