Many of you would have kept your home purchase plan on hold because of the global pandemic outbreak, but investing in real estate during this challenging time will be the smartest move!
Here, our Lancor team has clearly spelt it out why is it a good time to invest in real estate properties during this lock down. By the end of this blog, you will get a better understanding.
Let’s learn about this smart move.
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Low Property Rates
Since real estate is facing low demand in the market, buyers can look for attractive price offers from developers with easy payment plans and additional offers result in reducing the original cost of the property. Therefore, according to the famous saying ‘strike the rod, while it is hot’ try to make the best use of the opportunity to buy a property during this slowdown time.
Repo Rate Reduction
Today, it is the concept of bank home loans that made many homebuyers’ dreams come true. During this global pandemic outbreak, Reserve Bank of India has announced about reducing its repurchase rate also known as repo rate by 75 basis points and so the new base rate has been reduced from 5.15% to 4.4%.
Repo rate is the interest rate the RBI charges on commercial banks whenever they borrow money. This repo rate reduction is to mitigate the negative impact of COVID-19 and support you to avail of home loans at a low-interest rate.
Technology Development
The evolution of technology has taken the real estate industry to great heights. Technologies like online booking platforms, artificial intelligence, and more had already been on the line. With the coronavirus pandemic leading to a countrywide lockdown, builders are resorting to robust digital systems for providing you a virtual walk-through experience.
Therefore, you do not have to be stressed about seamlessly interacting with your realtors during this global pandemic lockdown times. `to learn more about the real estate industry’s growth because of technological advancements.
Special Discount Deals
We are sure this lockdown is unprecedented and thus, in a way to encourage you, developers are providing a host of freebies and special deals. Therefore, make the best use of these slowdown deals and buy your dream home at an affordable price.
Here is a graphic that sums up the entire post.
Wrapping Up
We hope this blog supports you to use the shooting star opportunity of investing in real estate during the lockdown time.
Pay close attention to know more about the developers background while choosing the developer for your project. Click here to learn more about how to choose a good real estate developer.
At Lancor, we have got 35+ years of experience and provide the best solutions for our clients. If you wish to get any help from us to buy a property during this lockdown period, you can call us (+91 8144 787 405). We are ready to assist you at any time.