Happy New Year, folks! It’s the decade of the new millennia and things are kicking off to a great start. We’re talking about the housing market of course. There’s every reason to celebrate this year’s forecasts. It seems there are advantages for both home-buyers and developers. This is what we call a ‘healthy market’. The major cause that everyone what to go ahead and make more aspiration for 2021 indicators is the pandemic crisis all over the world. We are seeing for this year’s market and the situation usually spells bad news for those interested in the real estate investing arena.
Here’s where you’re probably wondering how this healthy market is different and can create opportunities for real estate investing, even for first-timers. Usually, they don’t. This market is promising to be a bit different though. There are factors here that may make investing in real estate a viable option for many people.
The Shock of 2020 :
There is potential for a variety of impacts on the housing market starting this year. We all know that 2020 creates a chaotic situation, in the way we thought, think, invest, and make our decisions. The real estate market is reviving way before 2020 but after starting months at the time of lockdown the market and the economy going backward pace & creates a havoc situation. But the good thing about this situation is that major people understand the importance of their own house.
In India, people have thought of living in a rented house, people mainly procrastinate the home buying and take a sweet and simple short cut of living their half-life of the life in a rented apartment as a tenant. But the covid issue has drastically changed the situation, the importance of home and an own house.
Life is full of opportunities if you know where to look. Whereas many real estate expert and according to the various surveys shows that the real estate market is going to bouncing back in 2021 and the economy going to take a hike towards positive. Efforts are going towards changing the market sentiments, Government also takes many steps to boost the sector like Atmanirbhar Bharat 2.0 & 3.0 and many relief packages and schemes towards the sector.
The sale of the home is already accelerated and home buyers get various offers and incentives already given by real estate developers. The interest subsidy under the Credit Linked Subsidy Scheme (CLSS) is a great benefit for first-time home buyers. In a few states, the government has reduced the stamp duty rates. Also, there is no GST on ready-to-move homes. And the icing on the cake is the host of festive offers and end of year sale & schemes being offered by different real estate developers in Bhopal at present. However, evaluate the end of year offers and schemes in monetary terms and ask for a cash discount. A ready-to-move house is always better as there are no worries about handover delays then.
So, in a conclusion we can expect 2021 is going to be fruitful for the real estate sector and the economy too.
Written By – Mukund Kumar Pandey
About Agrawal Builders: It is a premium real estate developing firm in Bhopal with a wide range of residential properties and beautiful amenities like a modern clubhouse, gymnasium, swimming pools, parks, and garden, etc.