As we look out of our windows, the city that lay quiet seems to be cautiously rising again. Adapting to the new normal and adjusting to the safety protocols, Mumbai is resuming its activities.
Naturally, there is an uncertainty of the future as we reel from the Coronavirus crisis along with the world at large.
Despite this, as the rains greet us this season, the city resumes its lauded trait of the vigour to survive and thrive and it seems the pandemic is no different.
This spirit is evident as the lockdown eases and many industries and sectors resume functioning with social distancing. The Real Estate industry is one of them and despite seeing a fall in sales for the past few months, experts predict a rise in value.
According to The New Indian Express, Rajesh Prajapati, spokesperson of Maharashtra Chamber of Housing Industry (MCHI)- CREDAI said that the property market will revive once the restrictions of the lockdown are eased.
“We are confident that the market will revive. The migrant workers are coming back, and the people are also feeling that the home is very important that not only gives the security but gives the safety investment net.”
And so, let us look at some of the reasons why it is conducive to invest in residential projects in Mumbai during these times.
Security and Stability: With uncertainties all around, people are seeking a sense of security. A recent report by Anarock Group suggests that 92% of the respondents would like to have a physical asset during these times.
While physical assets might not yield immediate returns, it is less volatile during these times. It is a perfect investment in the current situation, where work from home is gaining prominence and individual safety is of prime importance.
Better Option than Other Investments: During these trying times, when scenarios are uncertain, residential real estate is the safest investment option as it offers maximum stability. After the stock market crash in March 2020, people do not want to risk their money in volatile instruments.
Higher returns could be expected once the economy starts recovering, which certainly makes this a perfect time for customers to invest in their dream homes.
Deals and Discounts: Developers are also offering exciting schemes and relaxed payment options to make it easy for homebuyers to invest in their dream homes. A combination of exciting offers and lower interest rates would make investing in residential properties advantageous.
The Ashwin Sheth Group presents you with one such highly beneficial opportunity. Their #RaintrestingDeals come at a crucial and prime moment. The deals are available on five of their coveted projects:
- Sheth Avalon (Thane West)
- Sheth Zuri (Thane West)
- Sheth Montana (Mulund West)
- Sheth Midori (Dahisar East)
Furthermore, they provide home buyers and investors with virtual tours of all these properties on their website. It includes interactive and 360 videos of the interiors to give you a clear idea about the entire project.
The deal offers a package of interesting benefits that vary from project to project. However, below are some broad benefits:
- No GST*
- Booking amount of just Rs. 51,000/-
- Refundable booking
- Lowest prices guaranteed
Reduced Home Loan Rates: Prices of residential properties have mostly remained stagnant in the last 5-6 years across India, making them within the reach of customers. The current market conditions are conducive for home buying as the home loan interest rates are at an all-time low. A decrease in home loan interest rates post COVID has become a big trigger for end-users to buy a home.
In addition to that, RBI has recently announced a reduction in REPO rate which makes home loans even less expensive. This is a welcome move as more and more investments will boost the sector and increase cash flows. The current situation is such where the Indian rupee is depreciating against other currencies making Indian properties a lot more attractive for NRIs.
In this aspect as well Ashwin Sheth Group adds to the bounty. They have tied up with Axis Bank and ICICI Bank to assist you in procuring a home loan for all their new projects in Mumbai.
Growth in Value Housing segment: The residential sector is all set to embark on a different growth trajectory with ‘home ownership’ gaining significant preference among the new-age millennials. Covid-19 has not dented the demand for homes that offer value for money. A recent report also shows that millennials prefer value in terms of buying a property with around 75 percent of them aspiring to buy a home in the next three years.
Efficiently designed homes have become popular amongst millennials and young couples, as they are a good first investment, offer a sense of security with aspirational amenities.
Taking all these factors into consideration, it is fair to say that the time to invest in real estate is Now!