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The new WFH regime has pushed individuals to look for their own homes. More and more people now look for spacious homes that allow them to create their own workspaces. Working couples and kids need work stations of their own to have undeterred work time. The reduction in expenses associated with daily commute and office-related expenditures has helped individuals save up a large chunk of the salary. The added disposable income has tenants looking to buy homes for themselves.
This, however, works as a disadvantage to renters witnessing a massive exit of tenants from rented homes to own homes. Tenants are now on the hunt for homes, looking for peaceful localities and finance options letting them pay only a few thousands per month.
If you are one of them, take a quick scan at the advantages of buying a home amidst a pandemic:
- Best Deals, Best Properties
The real estate market has taken a significant hit since the onset of the pandemic with the livelihood of millions affected. So, in order to attract fresh buyers at such a tumultuous time, the best and most prestigious builders are offering property at never-seen-before prices making it advantageous for prospective home buyers.
- Lowest Interest Rates
The dip in the repo rate fixed by the RBI has adversely and positively influenced one of the most sought-after loans, the home loan. This has made it beneficial for those who were on the fence about buying homes. The current interest rate is at a 15-year low and is a boon for anybody – prepared or unprepared to buy a home of their own.
- Capital Gains Benefit
As per the amendments made to Section 54 of the Income Tax Act during the 2019 Union Budget, you can now save on long term capital gains tax by investing in not one but two homes after the sale of any of your properties. Earlier, this exemption was applicable only on buying one home. Choose to sell your current home, and buy another one within 24 months to save on LTCG tax.
- PMAY Scheme
You can also make use of the Pradhan Mantri Awas Yojana (PMAY) and get a subsidy on the interest amount of your home loan. The subsidy rate and maximum interest subsidy amount depend on your annual income. For income groups with annual income from Rs.6 lakh to Rs.18 lakh, the interest subsidy ranges from 3% to 4%.
HM Constructions is a group of highly reputed builders offering homes in serene localities located in the city centre. The group has also launched a whole new scheme of its own wherein you have to pay only a mere Rs.10,000 as the initial investment.
Further, you can postpone EMI payments for the next 10 months with the EMI Holiday Facility. What’s more, you get to save Rs.20,000 paid to your landlord and additionally earn a proxy rental of Rs.20,000 adding up to a big save of Rs.40,000!
Isn’t that a great deal to buy a spacious new home for your family? Call us on 8880225555 and book your favourite home today!