6 minsOctober 9th, 2018
Festive time is probably the best time to buy a ‘Big-Value’ asset. So, if you are looking at investing in property, do it this Dussehra or Vijayadashami––an auspicious muhurat to buy your dream home.
It’s a dream of every family to own a house, even in an age where purchasing v/s renting is an ongoing debate. The reason for this is simple: a house to live in is a primary need. Not only does it give you a sense of financial security,
for most people, owning a residential property is a benchmark for success.
Furthermore, apart from the fact that owning property is a financial goal, it is even an emotional goal. This Dussehra, consider fulfilling this vital goal ––invest in property. And if you are worried about raising the funds,
with a home loan from Axis Bank, your dream home can become a reality!
Here are five good reasons to purchase a property this Dussehra:
- Discounts and freebies from developers
- During festive times, builder/developers usually offer certain tangible benefits viz. free parking, free clubhouse membership, free gold coins, free home appliances, modular kitchen fittings, gadgets, no EMIs until possession and so
on, which are the deal sweeteners that are too good to miss.
- Therefore, look out for projects with an attractive value proposition in the area you wish to buy your dream house and strike the best deal.
- Also, ensure that the project is registered under the Real Estate Regulation Act (RERA) and is in the approved list of projects of the bank or Housing Finance Company (HFC).
- Property prices have corrected
- Amid the current liquidity crunch, you would agree that property prices have corrected from their earlier highs. Make the most of these times and find promising opportunities even in adversities.
- In the long run, it could prove worthy provided you are pursuing the project from an investment standpoint. Currently, it is the buyers’ market for the property market as builders and developers, too, seem desperate to rollover
their unsold inventory.
- Better deals on a home loan
- Around Dussehra, your bank or HFC may also offer you the best home loan deal. If your credit score is healthy (750 and above) and your financial health is sound, you could get the best deal on your home loan application, which could
mean a lower rate of interest and/or waiver or reduction in loan processing fee.
- But remember, getting the cheapest interest rate on a home loan does not necessarily mean that you are getting the best deal. There are many more aspects to be studied.
- Select between a floating rate of interest and fixed rate by sensibly taking cognisance of the interest rate cycle and what suits you.
- Axis Bank offers home loans at an attractive rate of interest, making home loans affordable. Moreover, you earn eDGE reward points that can be redeemed for some exciting offers.
- Easier to conduct research
- Ahead of Dussehra, advertisements of various projects are apparent. You have a lot many options to choose from, and this makes conducting research somewhat easy.
- Besides, banks and HFCs also display their offers on a home loan.
All you got to do is carry out some online and ground
research, so that you invest in property wisely with the best home loan deal.
- Conducting thorough research and reading the fine print, i.e. terms & conditions of your agreements (home loan and purchase deed), carefully before signing on the dotted line plays a pivotal role in decision making.
- Improved regulations of the real estate market
Easier to conduct research
- The Real Estate Regulation Act, 2016 has brought in more transparency and vigilance in the functioning of the real estate market, protecting you, the investor/buyer. Your rights as a property buyer are specifically stated under RERA
along with certain rules and regulations that builders/developers must strictly adhere to.
- In case of any malpractice on the part of builder/developer, there’s also a Real Estate Authority and Appellate Tribunal for each state to address your complaints. So, in case any builder/developer is playing any mischief, your
grievance will be heard by the Tribunal before the matter goes to the Court. In fact, now there’s far more protection for you as a buyer or investor in property than ever before.
Vijayadashami or Dussehra also signifies Vijay or victory. It is one of those lucky muhurats to reap the benefits of the investments you do.
Consider purchasing a property this Dussehra and add to your prosperity. Accomplish the financial and emotional goal of buying your dream home with a home loan from Axis Bank.
Wish you a Very Happy Dussehra!
These thoughtful financial gifts for your sister will not only be cherished, but even add to her financial security and financial freedom, which as a true, loving, and caring brother you would always wish for.
Disclaimer: This article has been authored by PersonalFN, a Mumbai based Financial Planning and Mutual Fund research firm known for offering unbiased and honest opinion on investing. Axis bank doesn't influence any views of the author in any way. Axis Bank & PersonalFN shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.