Festive Season will Brighten up Housing Market
Subhash Goel, Founder, Chairman Managing Director, Goel Ganga Developments We believe that the festive season might bring the much required stability back to the real estate sector. Festivals play a major role in attracting potential homebuyers due to exclusive offers and special discounts. The ongoing pandemic has also evoked the value of home for consumers who feel safe within their homes and now want to upgrade their living experience. Another reason being, lower interest rates, the reduction in stamp duty and flexible payment plans such as no EMI for almost a year and so has made this festive season a perfect opportunity for potential homebuyers to buy their dream home at affordable prices. Due to all these factors, we expect sales to witness a boost during the upcoming festive season. All in all, it will be a win-win situation for both the consumer and the real estate sector. We at Goel Ganga Developments always have showered our customers with the best deals and offers. From no EMI till 18 months, lowered stamp duty, cash back incentives and payment discounts among other benefits, we are all set for the festive season to kick-in. Advice to homebuyers when considering incentives being offered by the developers This is indeed a time where homebuyers can fall prey to fraud schemes. To avoid it, understand the various schemes before committing yourself to make a big investment. Also, never forget to do a background check of the source and always trust a builder with relevant track record. One must evaluate the total pricing of the products before making an informed decision and not get misguided with extremely low rates. What can the government do boost buyers sentiments? Government has taken various measures to boost the real estate sector including reduction of stamp duty and extending project deadlines. Apart from these measures, reducing circle rates and increasing tax benefits can be a game changer for first home buyers. Real estate sector should be given a single window clearance facility to make the project implementation faster. Technology can also play a major role in revival of the industry. Further, lowering of income tax can act as a boost to the sector as it will lead to reduction of financial burden on the buyers and increase their disposable income.
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