The year 2020 has taught us the lesson to save our finances to mitigate any emergencies that may come in our future. Now again in the first quarter of 2021 Covid cases have increased but the introduction of the vaccine has reduced the risk further.
The spending power of the average Indian has revived again to make smart investments. Economic development has advanced across all sectors, with the real estate sector gradually escalating.
Here are convincing reasons why is buying a house considered a good investment in 2021?
High returns on investment:
According to the real estate experts, by 2040 real estate of India will be a 650 Billion US Dollars industry. On the other hand, there is a huge gap between demand and supply. As per the different statistics, a shortage of 10 million units still needs to be built to fill this huge gap. The Central Government of India is also working on Smart City Project in several cities.
Over the last decade, there has been an average increase of 11% return in residential property, each year. Residential property has been proved to have excellent returns than generated by gold or other investment options.
Government initiative to promote real estate investment:
Due to the Covid19 pandemic, the Central Government & RBI has presented the moratorium support. This was soon after that a cut in the registration charges and stamp duty, and other such tax relief actions. As well, State Governments with Central Government have done their best to boost investment in real estate, as it is the biggest contributor to GDP.
Rejuvenating industrial corridors and SEZ:
Due to lockdown in 2020 rental took a deep dip as many working-class people moved to their hometown. But in 2021, businesses have given the green signal to open at full force. As well, several new SEZs have been planned for Tier-II cities like Chennai, Bengaluru, Pune, etc. This will increase the workforce and following the rental market. So, if you are not looking for a home for your family, you can still invest in residential property to earn a good rental income.
Reduced rates:
The pause in the real estate market brought on by the Covid-19 might just be the good thing in disguise for potential home buyers. Now builders are competing to give attractive deals to clear their unsold inventory. Consider 2021 as a clearance sale period for residential properties and these low rates are only available during the shifting period from the lockdown to the normal routine. The government is also doing everything possible to make great housing affordable to every person.
Easy and low-interest funding:
Banks & financial institutions are also doing best from their end for promoting real estate investment. Home loan interest rates have come down compared to the 5 years back. As well as home loan processing has also been more transparent & easier for the common man. Now more & more home buyers are smartly getting home loans at very affordable interest rates. But, this enthusiasm by the banks and the RBI to cut their interest may not go on for long. So 2021 is the best time to buy your dream home and grab good offers at a very attractive price.
If you are looking for the best real estate investment opportunity in New Delhi then DLF Developer is a well-established real estate developer with a wide portfolio of luxury residential communities in different parts of India. Their luxury homes in Delhi NCR for sale are the fastest-selling commodity at this time. Visit their new residential project DLF Midtown Delhi and make your best real estate investment with the best features & amenities at a very attractive price.