Best time to upgrade to a spacious home

Date : October 5, 2020

Best time to upgrade to a spacious home

The lockdown in India over the past 6 months has made everyone realise how important own-ing your own spacious home is. With Work From Home (WFH) being the new norm for adults and children having online school every day, we continue to bump into each other every few minutes. While at one time, home was seen as an escape from office and work, now going to work has become the new escape. The pandemic has now become the best time to buy real estate with developers showcasing generous offers and the government also im-plementing regulations to support the real estate industry.

A recent survey by JLL India1 shows that over 91% of people polled over the age of 35 prefer buying an apartment over renting one in the next 6 months. Additionally, 67% of them believed that buying a home has now become a necessity, not a luxury. A consumer sur-vey conducted by Anarock2 during the lockdown period said that 12% respondents who were previously not planning to buy, are now interested.

People are now looking for houses that can adapt to their ever changing needs and have enough space for themselves and their growing family to be able to work/study as well as get some privacy doing it all. The uncertainty about rentals have also become a point of stress during these difficult times and people are starting to realise that they’d rather pay the EMI and have an asset instead of having the rental liability.

Other popular investment asset classes such as stocks and gold are quite volatile and unpre-dictable in pandemic times. Paying the EMI for a house has dual benefits. It not only gives you a month of shelter but also increases the proportional ownership of the house. Addition-ally, home loans come with attractive tax benefits; rental housing does not. Housing retains its intrinsic value in uncertain times and eventually appreciates when times improve.

Fortunately, the repo rate to which the home loan interest rates is linked is at a 20-year low. Currently, the lowest interest rate is at about 6.85% when at this time last year, the lowest interest rate was between 8.55%-8.75%, making it the best rate in decades.

The reduction in stamp duty rates has also accelerated this shift to the buying sentiment. As of 1st September, the stamp duty charged till 31st December 2020 will only be 2% and from 1st January 2021 to 31st March 2021 the stamp duty charged will be 3%. Earlier, the stamp duty charged was 5% in key cities like Mumbai, Pune, Nagpur and Nashik and 6% in others.

No GST on ready apartments, low booking amounts, attractive offers and tantalising referral schemes are just some of the various offers on table for the discerning homebuyers right now. Ready to move in flats are moving more quickly as of now since there is no GST while giving prospective home buyers the assurance of being able to move in as soon as they want.

Keeping all this in mind, Hiranandani Developers is offering ready to move in flats at attrac-tive prices in their Powai and Thane locations. Hiranandani Gardens, Powai, Hiranandani Estate, Thane and One Hiranandani Park, Thane provide provide large living spaces and excel-lent social infrastructure for creating better communities and a better sense of social security.

Reference articles :
1 https://www.jll.co.in/en/trends-and-insights/research/homebuyer-preference-survey
2 https://www.anarock.com/research-insights/anarock_covid19_indian-re-consumer-survey

Wide range of options ranging from 1BHK-4BHK, provide the perfect choice for all looking for an upgrade to a larger, spacious home which provides comfortable living in these uncer-tain times. So, be rest assured, if you are a first-time homebuyer, looking for an upgrade, a larger home for your family or simply to make an investment, Hiranandani has an offering unlike any other for your every need. Moreover, the integrated townships developed by Hira-nandani offer excellent social infrastructure consisting of world class Hiranadani Foundations Schools, state-of-the-art Hiranandani Hospital, business district with big names from India Inc., High-street retail, markets, lavish clubhouses filled with amenities and sports facilities and a serene cover of greenery with gardens, parks, wide tree-lined streets and mesmerizing views. Thus, it offers much more than one could even wish for and is the best choice for any-one looking for an upgrade to a spacious living space.

Furthermore, these upscale neighbourhoods comprise of a community of doers and achievers like no other. The Hiranandani Gardens, Powai community is now a major hotspot for start ups within Mumbai with Hiranandani Estate, Thane coming a close second. Hiranandani De-velopers is not only known for building superior infrastructure but this ecosystem is now also attracting upcoming raw genius eager to make their mark in the business world as well as well known CEO, MDs, CXO’s and other talented professionals across the fields of science, sports, art and technology.

Explore the world of Hiranandani and find a plethora of options, with customized offers that would make your home buying experience attractive and hassle-free. Moreover, you can book your dream home online with just Rs. 50,000/- on www.hiranandanioffers.com.

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Corporate Office

Hiranandani Constructions Pvt.Ltd
Olympia, Central Avenue,
Hiranandani Business Park Powai,
Mumbai - 400076
+91 22 2576 3600 / 6868

Sales Enquiries

+91 22 6849 3050
sales@hiranandani.net
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