In India, the time from Navratri to Diwali has always been considered a symbol of auspiciousness and prosperity. During this time, people shop a lot, but buying a house is considered the most auspicious. This is the reason why the crowd of buyers increases on this special occasion.
This year, not only the real estate market, but the government is also giving big benefits to those who fulfill their dream of buying a house. These benefits have come into effect from September 22, and Navratri is starting from September 23; that is, now you can shop with full preparation.
EMI will not increase on the home loan
The Reserve Bank of India (RBI) has recently kept the repo rate stable. This means that there will be no increase in the EMI (monthly installment) of your home loan. This is a great relief for buyers, because now they can plan their finances for a long time without any pressure and decide to buy a house. You will get this facility on both Navratri and Diwali festivals.
Direct benefit of the reduction in GST
The government has implemented changes in GST from September 22. Construction materials such as cement, marble, and granite have benefited the most from this change, as taxes on them have been reduced. This will reduce the cost of building a house, and property prices may also come down. This will directly benefit buyers, and the project cost will also be reduced for developers.
Great festive offers from developers
Developers are also not left behind during the festive season. They come up with many attractive offers to attract buyers. These include facilities like flexible payment plans, cash discounts, stamp duty exemption, free modular kitchen, and free parking. Developers are now reaching more and more people through digital marketing and influencers.
New RERA rules and property hotspots of NCR
Changes in the rules of RERA (Real Estate Regulatory Authority) have further increased the confidence of buyers. Now there is more transparency in the processes related to project delivery, registry, and payment, which will reduce cases of fraud and guarantee security to customers.
This year, many new areas in Delhi-NCR have emerged as investment hotspots. New projects are coming up rapidly in Gurugram, Sonipat, Panipat, Bhiwadi, Greater Noida, Faridabad, and Ghaziabad. Better connectivity, like Dwarka Expressway, Yamuna Expressway, and KMP Expressway, is making these places even more attractive. Apart from this, the demand for luxury and premium housing is also constantly increasing.