Homeward Bound
Outlook Money|May 2021
Home loan interest rates are at historical lows. Extended tax sops from the government, and favourable fiscal policies make it the right time to invest in real estate. It’s a win-win for both the buyer and the developer.
Vishav

Buying a house is very special for anyone. Not only it is a matter of pride, but it also is a major landmark moment in one’s life. A lot of money and effort goes into finding that perfect house that fits your personality and serves all the requirements of your family. And, since it is often the biggest purchase one makes in his or her entire life, making all the right decisions is of paramount importance.

Buying a home at the wrong time and without proper homework could prove to be a costly mistake as many homebuyers experienced. They end up paying their EMIs for almost a decade yet fail to get the possession. The ‘dream home’ remains elusive.

The last few years have seen a slew of policy measures to make homebuying a more attractive financial decision. The home loan interest rates are at a record low, the prices of homes have also become marginally lower, the demand has started rising and the tax benefits are plenty. Many states have also cut the stamp duty and allowed builders to sell houses at a price much below the circle rate.

So, is it the right time to take the plunge that you have been thinking about and go ahead to buy that dream home of yours?

According to Ravindra Sudhalkar, CEO, Reliance Home Finance, there are ample policy indicators to suggest that the government will continue to support the revival of the housing sector in the coming months by keeping the interest rates low, providing sops to buyers and developers, while ensuring ample liquidity in the system.

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