October - December 2016
Demonetization Impact: The right time to buy in Real Estate Go Back
First Choice of buying - L&T Realty
Demonetization impacting real estate sector progressively
On the evening of November 8th, 2016, our Prime Minister, Mr. Narendra Modi announced a landmark decision of demonetization of Rs. 500 & Rs. 1000 currency notes. Demonetization is going to leave a lasting impact on the national economy and businesses, especially on Real Estate sector. On the one hand demonetization move has cash strapped many developers thereby impacting their project delivery time lines. On the other hand, large corporates stand to gain, especially L&T Realty as they already have track record of transparency and timely delivery of promised quality products.
Move brings long term positives for customers
Historically, real estate sector has been seller’s market. Recent Govt. initiatives are welcome steps and will transform the sector from Sellers’ market to Buyers’ market. RERA (Real Estate Regulatory Agency) and strict legal actions by courts on offending developers will clean-up the sector. Customers will have higher confidence as transparency in the transactions will increase. NRIs will find it more appealing to invest due to the removal of cash from the cycle. Initiatives like faster approval process/clearances will help the developers to speed up and finish the projects on time. All these initiatives bode well for the customers.
This is the right time to buy in Real Estate
India is facing huge shortfall in housing, mainly because of unmet demand owing to reduced affordability. On one hand, transparency along with strict regulatory environment will boost customers’ confidence by protecting customers’ interest. On the other hand, imminent reduction in home loan interest rate & increased liquidity in the market is going to drive affordability. All these factors will drive the real estate demand up and in turn will push real estate prices up again. Customers should cash in now and take advantage of the situation.
For most buyers, house is a very emotional and once in a life time purchase. This is why, careful consideration of all the factors is required before the purchase. One of the most important factors is, surrounding details of the house like floor, view, direction, vastu etc. In the current market, customer can get apartment of his own choice.
Customers should buy with trusted companies
In all, this is an opportune time for customer to take advantage of the existing situation and clinch best deals from reputed players present in the sector. Customers can not only avail benefits of imminent reduction in interest rate by adopting floating rate home loans and ward of the risk of expected price increase but also get apartment of their own choice.
It is advisable for customers to buy with trusted players of the sector which are well organized and better capitalized like L&T Realty. L&T Realty not only guarantees quality product but also provides safety of investment and in turn complete peace of mind to its customers.