Planning to Buy Your Dream House in Mumbai? The Time is NOW!

Mumbai - the city of dreams needs no introduction. It is one of the biggest metropolitans in India and also happens to be the nation’s financial capital. The city, owing to the presence of Bollywood, attracts people from every part of India and abroad and thus, the need for affordable housing never ends. In fact, the demand for affordable homes in Mumbai has increased incessantly over the last couple of years.

Taking a cue from the same, if you are planning to buy a house in Mumbai, 2018 is the year you should do it. Here’s why?

Mumbai Real-Estate Sector has been affected by Demonetization

The Mumbai real-estate sector has been badly affected by Demonetization. The property prices went really down, providing prospective buyers with an opportunity to take advantage of the situation. So, find a flat for sale in Mumbai and purchase it before the Mumbai real-estate market recovers and the prices go up again.

The RERA Act has made home buying easier

The establishment of RERA and the guidelines issued by the authority has made home-buying easier as well as safe, forcing timely completion of projects as well.

The PMAY and PMAY CLSS is expiring soon

The PMAY subsidy on home loans and the CLSS subsidy for existing homeowners will expire by the end of March 2019. Thus, you have very little time left to leverage from the facility.

Home loan interest rates are at an all-time low

Lastly, as you must have observed, the home loan interest rates are at an all-time low. But, the same can’t be said for the FY 19-20. Thus, buy a home in Mumbai as long as the market is stable and the home loans are still affordable.

Bottom line:- Find a flat for sale in Mumbai, explore the financing options, arrange the required documents and conduct the purchase.

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Wednesday, 31 October 2018