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Is it the right time to buy a new home now?

On 19th April 2022, By Admin

Is this the right time to buy a home now? The answer is “yes .” Although any time is an excellent time to buy a home, it would be advantageous to invest in real estate in the given scenario. RBI has continued the same REPO Rate for the ongoing fiscal year. Moreover, the guidelines of RERA reduced stamp duty creating a win-win situation for the home buyers. Here are four benefits you would get if you buy a home now.

Reduction in loan interest rates

The Reserve Bank of India kept the Repo Rates unchanged in the latest monetary policy. Currently, the Repo rate is 4%, and the reverse repo rate is 3.35 %. So property buyers can get home loans for less than 6.5%, but it is likely to increase in the coming years. So it’s the best time to invest in real estate property.

Interest rate discounts offered by banks

Some of the biggest banks in India are offering decade-low interest rates and discounts to revive the demand in anticipation that consumers will ease their purse strings. Likewise, builders are offering discounts or gifts for homebuyers to tap the nascent revival in the property market post-pandemic.

Lowered asking rates of the property

Since the end of the hard lockdown, low-interest home loans and downscaling trend made it cheaper to buy a home than rent. Sellers may accept lower offers if the property is in the market for a while.

Infrastructure development 

The development of civic and social infrastructure in Pune suburbs makes the time more plausible to invest in property. Its upcoming metro project connects each corner of Pune extensively, and the 128 km long ring road is making its way through 66 villages and some of the fastest-growing suburbs, including Ravet, upgrading the lifestyle and making public transport easily accessible and seamless, connecting every corner of the city. Buying a property in a developing neighbourhood also fetches higher appreciation value.

Ravet is one of the fastest developing suburbs of Pune and is witnessing tremendous development in civic infrastructure and social amenities. Reputed builders like Pharande Spaces, Runal Developers, Urban Space Creators are developing premium residential and commercial projects in Ravet with luxury amenities and offering excellent connectivity to the other parts of the city and important landmarks. Urban Space Creators has recently launched the tallest residential and commercial project in Ravet with 40 floors. The project offers incredible amenities and a panoramic view of the cityscape. The project provides 2,3,4,5 and 6 BHK homes featuring thoughtful amenities. If you want to buy a home in Ravet, head out to Urban Skyline phase 2, dedicated to comfortable urban living.