It has been more than 2 months since our Prime Minister Shri Narendra Modi announced demonetization on 8th November 2016. Amongst the various things and debates about its benefit, Real Estate buyer is coming to be the true winner.
As mentioned in my last article that cost of funds will go down drastically after banks being flushed with funds, we are seeing it actually happening.
The rates have come down to extent of 8.35%, irrespective of the tenure and amount. Bank of Baroda has gone a step ahead and made the rate linked with the credit score of the home buyer. This is the best way of rewarding the person who is maintaining the financial discipline.
All the major Housing Loan players like SBI, ICICI, IDBI, HDFC etc have reduced their rate of interest for the Home Loans.
Not only the EMI will be reduced for the buyers but also their eligibility will increase.
After lull of 2 months, Developers are again back with attractive offers for the home buyers and buyers are again scouting the best deal in the market. The conducive atmosphere is in place where buyers are now feeling confident to go ahead and take the buying decision.
The various doubts of heavy price correction in primary market are also cleared to an extent.
It is no doubt that nearing completion or Ready to Move properties are the first preference of the buyers and there are less takers for projects which are at just start level.
I can say confidently that It is the RIGHT TIME TO BUY AN HOUSE. The value a customer will get now may not get in immediate future as nearing possession or ready to move inventory is getting absorbed and new launches are very few.
Indian Real Estate is moving towards more maturity with RERA now a reality and prelaunces the thing of the past.
Happy Buying for the Home Buyers.
SG Estates Ltd.
The company is in the Construction Business for the last 30 years and has its expertise in developing Residential and Commercial Real Estate projects.
Lately company has delivered series of Group Housing projects under the name of SG IMPRESSIONS and made SG Impressions Vasundhara, SG Impressions Dehradun, SG Impressions 58, SG Impressions Plus and SG Homes. All these projects have been successfully developed and delivered.
SG Alpha Tower and SG Beta Tower are successfully running as iconic commercial projects in Vasundhara, Ghaziabad. Currently company is developing number of Group Housing projects in Vasundhara, Raj Nagar Extn. and Govindpuram namely SG Oasis, SG Grand and SG Benefit.