Thursday, 23 March 2017

3 Reasons Renters Should Buy Property in Ahmedabad Soon

Indian real estate market has started the New Year with many positive notes. Infrastructure status to affordable housing segment, low-cost deposits and interest subvention of 3 and 4 percent for loans up to INR 12 and 9 lakh respectively under PMAY are some of the major contributors in improved market. Looking at the benefits of these announcements many builders in Ahmedabad and other major cities have launched many projects.

This is equally beneficial for the builders as well as home buyers. People, who have been living in rental homes for years and planning to buy property in Ahmedabad, can translate their dreams into reality now. Now you must be thinking about the right localities to buy home. So here are the top three areas where these moves by the government will prove to be more beneficial.

Localities with high rental yields
Buy vs rent calculators of different market experts suggest that buying a home is a better option now than renting a home. Though high rental yields seem more interesting to have rental properties, when you look at the low-interest rates, buying a home seems more profitable. The localities with 4% rental yields have properties at an interest rate as low as 7.75%. So it is better to buy a home there.

Upcoming localities with more affordable homes
The Pradhan Mantri Awas Yojana (PMAY) scheme giving home loan at just 5% interest rates makes it a better option to buy a home than renting it. Further, an affordable housing scheme in Ahmedabad makes it easier for people to arrange money for a home. People usually stay away from investing money in budget homes due to their location in outskirts of the cities. However, some initiatives by the government to help people get home in central locations will boost the sale of affordable homes.

Localities with a clash of dropping prices and higher rental yields
Among all these changes, some localities have seen falling prices at a pan-India level. Now if you look at the price of buying apartments in Ahmedabad and the rental yields, you will find it better to buy a flat.

The real estate market hasn’t yet reached the perfect state. However, the government is trying to win the confidence of the buyers; it will take some time to improve the sentiment.

Post By : Shrikant Sain
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