Good Days Ahead For Home Buyers

Are you looking out to buy a new flat? Then this time is the most desirable time that you might have been waiting for.  As the Government along with other higher authorities in the country such as RBI has set their eyes on the real estate sector to improve its present condition. And this is quite visible with several recent developments, which include the clearance of Real Estate bills and twice rate cuts by RBI. Further to the RBI rate cut, well-known banks like HDFC, ICICI, Axis and SBI have also reduced their home loan rates. Reduced home loan rate is a great news for any buyer, as it refers to less interest that further points out to reducing burden from the buyer's shoulder and in return the buyer will be more enthusiastic to buy new properties. In line with the present rate cut, developers are also hoping high for a further rate cut by the end of the year.

However, looking at the current developments, real estate developers are launching new projects in Mumbai and suburbs with a view to boosting the status of decreasing sales of residential projects. In spite of the fact there are lots of inventory still under construction in the region, the builders are still looking at developing more new projects. Also with the reduced home loan rates by the banks, builders are hoping high with the new launches, as buyers now will not be hesitant in investing money in new projects.

In addition, the new job opportunities such as the rise of the e-commerce sector, returns from the stock markets have comparatively increased in the earnings and thus the spending power. This rise in spending power of the buyers combined with lesser home loan rates is expected to further push up the home sales sentiments.

Also, the clearance of the real estate bill is another major step towards the improvement of the real estate market. With a proper regulatory body in place, the buyer can now invest in any property without getting worried about being cheated or harassed by the developer. The bill has brought in a positive vibe among the home buyers as now they can feel protected against the wrong practices of the real estate sector. Henceforth, the buyer can now become hopeful about an organised property market that encourages transparent and smooth dealings.

References:
http://realtormag.realtor.org/daily-news/2015/07/28/better-days-ahead-for-first-time-buyers
http://money.cnn.com/pf/money-essentials-home-buying/
http://economictimes.indiatimes.com/wealth/real-estate/realty-trends
http://rkmumbairealtors.com/trends-forecast-for-mumbai-real-estate-2015-to-2016/

http://www.prres.net/papers/Sonia%20_Real_Estate_Sector_The_India_Story.pdf