The year 2020 was so unimaginable that people were forced to save their finances for any emergencies. But the cases of coronavirus came down rapidly and the vaccine decreased the risks of getting affected.
Additionally, the spending capacity of people again increased and they are making wise investments. The economy also witnessing massive growth across all sectors with the real estate industry is steadily rising.
In this article, we will discuss why 2021 is perfect for your real estate investment purpose.
1. High ROI
The Invest in Property will provide high returns in 2021. As per the estimation of experts, the real estate industry will reach more than 630 billion US Dollars by the end of 2040. However, there lies an inequality between demand and supply. There is a shortage of 10 million real estate properties that need to fulfill the demand. The central government is focusing to develop smart city projects to identify 100 smart cities in India. For the past 9 years, the return on investment has been increased by 11.6%. Real estate has been proved to give more returns than gold or any other investments. This is why 2021 might be the Good Time to Invest in Property.
2. Government Applications to Promote Investment on Real Estate
During the COVID-19 pandemic, RBI and the government introduced moratorium relief. They also introduced tax reductions in the stamp duty and registration fee that ultimately made Investment Property cheaper. The State and Central governments have also promoted real estate investment as it will help the GDP to grow.
The central government has also introduced a new tax relief application. For the potential buyers who want to purchase a home up to 2 Crores, the sale agreement and circle rate have been increased to 20%.
3. Rejuvenating SEZ
The rentals experienced a severe crisis in 2020 and many people moved to their hometowns before the lockdown started. But now, the government has given businesses a green signal to operate again. Some brand new SEZs have been accepted for cities like Bengaluru, Chennai, and Pune, etc. This will boost Property Investment in 2021as well as the rental market. Even if you don’t want to live in the home, you can invest in real estate to rent them out.
4. Reduced Rates
The damage in the real estate industry brought by the coronavirus pandemic might be a disguised blessing for potential buyers. Real estate and building developers are competing with each other to enhance the value of the real estate market in India. This is one of the primary reasons that 2021 is the Best Time to Invest in Property.
Additionally, many experts are considering 2021 as the sale year of real estate. The government is also taking necessary steps to make real estate affordable to the majority of Indians.
5. Low and Easy Interest Funding
The banks are also helping to promote real estate and Property in Vile Parle East. The interest rate of home loans has been decreased by 6.7%. Additionally, the process of home loans has been made accessible to the common man. However, this willingness from the banks might not stay for a long time.
These are the 5 reasons why you need to invest in the real estate market in 2021. If you are looking for new property then this is the ideal time to purchase it from us. VijayRaj Residency offers posh properties at reasonable rates to customers. We can assure you that VijayRaj Residency maintains strict quality regulations and 100% consumer satisfaction is guaranteed.