No change in home loan interest rates
Recently the Reserve Bank of India announced its monetary policy and has not made any change in the repo rate and the reserve repo rate. This means there is not going to be any change in the home loan interest rates. At the same time, interest at the rate of 6.5 percent is being charged on home loans of most banks. In such a situation, customers are now getting home loan at the lowest interest rate.
start of new offers
At this time, due to the home loan interest rate as well as the festive season, almost all banks and housing finance companies including SBI to HDFC, HDFC Bank, ICICI Bank, PNB are offering many offers. Many of these offers are going to last till December. These offers include exemption from processing fee which can go up to Rs 50,000 in many cases.
Developers and real estate offers
During Navratri, many developers and real estate companies start giving many offers to the customers. During this time, customers are offered many offers related to down payment, discount on parking and other charges, full furnishing of AC, TV and furniture etc. in homes, modular kitchen etc. for free. On the other hand, in lucky draw schemes, there is a separate chance of winning bumper prizes, which is not available during the rest of the year.
Special discount to woo women
If the house is bought in the name of working women, then more benefits are available on home loan from banks. Apart from this, the government also gives exemption in stamp duty on getting the names of women registered. In such a situation, by buying a house in the name of wife, mother or any other female member at home, one to two lakh rupees can be availed separately.
Households increased rapidly in early 2021 Demand
Rajan Bandelkar, president of Naredco, the self-regulatory body of the real estate sector, says that at the beginning of 2021, there was some increase in their prices due to sudden increase in demand for homes. But after that the second wave of Covid was followed by the third wave. As the number of home buyers decreased due to rising fears of the economy, their prices stabilized again. In such a situation, this is the right opportunity for the customers to invest now before the price of the property increases again. As soon as the demand for homes in the markets across the country can increase once the Covid comes under control, then surely the developers can also increase the prices of the houses.
Housing Schemes Implemented
In the housing schemes given by the government, customers are getting the benefit of various subsidies for buying a new house along with rebate on home loan interest. In such a situation, customers can take advantage of all these government schemes. At the same time, to help the property market recover from the impact of Covid, many state governments are also giving the benefit of discounts in stamp duty, subsidy and other charges to the customers.