May 07, 2021
The onset of COVID-19 pandemic has brought almost everything at a standstill. The Indian real estate industry which had just begun to show signs of recovery in 2020 is again at stake due to an increase in the number of cases of the pandemic’s second wave. With these current fluctuations in the market, it is bound to have some adverse effects in the demand for property buying in India. The pandemic in 2020 witnessed a great shift in the real estate industry but will the same pattern continue? Afterall, homebuying is always a better option as compared to volatile stock markets and underperforming mutual funds.
A recent study revealed that an average number of housing enquiries have rebounded to more than 50% of the pre-pandemic times and that homebuyers have started returning to the market. Another study also revealed that even during the current pandemic, ready-to-move-in homes ranging from INR 40 Lakh to INR 1.25 Crore have been a huge hit among the homebuyers and almost 70-80% of the sales have been closed by the end users. So, let us discuss the 5 reasons why one should consider buying property during COVID-19.
1. Low interest rates on home loans
RBI reduced the home loan interest rates with repo rates falling to as low as 4%. Recently, in the month of April 2021, RBI also extended the moratorium on EMIs with a view to support the economic growth.
Speaking of low interest rates, brand-new properties in Bhiwandi are coming up by one of the well-known builders and developers in Bhiwandi –Karnani Group.Their latest project, Ambika City has partnered up with multiple banks that have been offering 100% loans with flexible tenors and instant approval. Some of the benefits of applying for the home loans with this real estate brand are:
- Amazing interest rates
-Instant loan approval
-Loan offers from multiple banks
-No extra/hidden charges
2. Better inventory at good deals
This pandemic can be the best time to buy the property because the prices are recorded to be all time low and some of the best projects are available not only at attractive rates but also with some of the best-in-class amenities like never before. There are a number of residential properties in Bhiwandi offering 1, 2, 3 and 4 BHK luxury apartments in the heart of Bhiwandi city.
3. Best investment option
With a significant increase in the population, it is a known fact that land is one of the most preferred limited resource available. Increase in urbanization and demand the demand for property is going to increase and soon the supply will not be able to keep up with the demand in the market. Considering this, it is always advisable to go ahead and grab this opportunity to own a home of your own. There are a number of luxury apartments coming up in the heart of Bhiwandi city. These residential properties in Bhiwandi range from 1 BHK to 4 BHK high-end apartments.
4. Long term stable asset
The current pandemic made us all realise the importance of having our own property. Owning a home rather than paying the rent can definitely help you save some money and put it to good use.
However, it is also important to understand what kind of property and locality will bring you more benefits. For example, a number of properties in Bhiwandi are coming up with luxury apartments and top-class amenities in one of the most preferred projects, Ambika City that offer 1 BHK to 4 BHK homes.
5. Better Government assistance
Ever since the pandemic, the Government has been kind enough to announce stimulus and attractive packages with repo rate being the lowest ever since 2008.
Having said that, a number of residential properties in Bhiwandi are coming up at Karnani Ambika City with a wide range of 1 BHK to 4 BHK high-end apartments backed with excellent amenities and other features.
With a wide range of 1, 2, 3 and 4 BHK options available at Karnani Ambika City in Bhiwandi, the project is one of the best investment hotspots available currently. With repo rate being all time low, aspiring homebuyers can pick some of the best available properties at attractive rates. It can be safe to say that this pandemic is indeed a lucrative time to buy a property.