Prestige Group, Modi Builders and Merlin Group have scaled up operations and launched new units to cope with rising demands.
One of the most poignant lines about the value of land and property is cited in the Hollywood classic, Gone With The Wind. ‘Why, land is the only thing in the world worth workin’ for, worth fightin’ for, worth dyin’ for, because it’s the only thing that lasts’, goes the quote. This holds true now more than ever. The vast possibilities and resources it holds makes land an indispensable asset for any individual.
It, therefore, comes as no surprise that real estate has emerged as one of the strongest performing sectors in the post-pandemic normal. The unique complications and lifestyle changes triggered by the pandemic forced individuals to consider real estate as a serious investment. Buying a home is a huge responsibility for many. It takes a substantial amount of investment, both emotional and financial, and transforms into a perpetually wealth generating asset for future generations too, if cherished properly.
To invest or not to invest
The current climate in India is very conducive for real estate investment. The sector holds much promise for prospective homebuyers looking to close the deal on their dream homes. Record low interest rates along with attractive festive offers, flexible payment methods and a wealth of options regarding property types makes it the ideal time to invest in a home.
Mumbai MMR, Bengaluru, Chennai, Hyderabad and Delhi NCR all witnessed a boom in housing demands. Interestingly, there has been a shift in buyer preference – from economical studio-type apartments to spacious, independent options. Premium realty developers like DLF Limited, Prestige Group, Modi Builders and Merlin Group have scaled up operations and launched new units to cope with rising demands.
If not for self-use, investing in a home makes sense when you look at the potential returns. ‘Buy for rent’ is an emerging trend that has caught on very quickly. Buying a property does not mean you have to reside in it, unless that was your plan all along. There is always the lucrative option of renting out the space to other individuals. This guarantees the investor a steady income and provides a safety net against future uncertainties.
Market Trend & Investment Options
The potential investor has a plethora of options available to him when it comes to real estate. Developers are offering all types of homes, from studios to apartments, plots, bungalows and villas across the board. Current trends indicate that premium residential housing is currently in demand, making it the safest choice for any would-be investor. For instance, homes priced between Rs.60-80 lakh are enjoying the lion’s share of Hyderabad’s realty market.
Although the sector is performing remarkably well, one should not throw caution to the wind. A thorough research of the location, track record of the developer and the potential resale value of the property can avert potential headaches later on. Assessing your current financial situation and comparing it to your potential earnings in the subsequent years is another must do. Understanding your finances better will ultimately help decide whether you should seal the deal on the perfect home.