Why 2022 has turned out to be the best time to buy a property?

Real estate has always been considered a productive long-term investment. However, India has witnessed a clear shift in the real estate sector in the past few years. As per the recent report by real estate companies, there could be a 5 percent rise in the residential segment in 2022.

From an investment perspective, you can buy a property and earn a considerable ROI in a few years, either by selling or renting it. Due to the increased sales in Hyderabad in Q3, there is a 40% increase in new property launches. One of the safest and reliable ways to invest is to buy a property with Praneeth Group, which is a well-established and reputed real estate company. Let’s look at some major reasons why 2022 has become the best time to buy a property in Hyderabad.

Some of the reasons to purchase a house in 2022 are:

● Transparency within the Real Estate Market

Since demonetization, the Real Estate Act 2016, and the Goods and Services Tax (GST), the developers and the lenders have reduced their rates. It has led to the revival of the housing industry. The implementation of the Real Estate Act has brought a great deal of transparency to the realty market.

● The decline in the Home Loan Rate

Over the last few months, leading banks and private lenders have shown a decline in the home loan interest rates. This way, they are boosting their home loan portfolio. In addition, many experts believe that as the real estate sector stabilizes in the coming time, the prices are likely to rise. Thus, it is the right time to enter the property market and acquire a home loan at affordable rates before they move up.

● The Pradhan Mantri Awas Yojana

It has become an affordable task for people to purchase a house with the help of the Pradhan Mantri Awas Yojana. The scheme provides housing benefits to the Economically Weaker Sections, Lower Income Groups, and Middle-Income Groups. In addition, there is the Credit Linked Subsidy Scheme (CLSS), under which one can avail of subsidy on home loan interest.

● Tax Deductions

Whenever a buyer takes a home loan, he can claim the part of the EMI, stamp duty, and registration fees that he pays as tax deductions.

● Sense of Security

After all the troubles and sacrifices, the buyer gets a place as an owner. It is a tangible asset whose value increases over time. With low-interest rates and protection of consumer interest owing to RERA, people are finding themselves in a position to afford a home loan.

● Covid -19 Pandemic has improved the real estate market indirectly

Since covid, rendering homeownership has gained more value than ever before. Though it depends on the availability of finances, with the housing scheme by the government and low home loan rates, housing has become easily affordable to the proletarians.

Also Read: Post-Covid Real Estate: 5 Reasons to Purchase an Apartment

● It's the buyer's Market Today

Amidst the pandemic, the market has become more buyer-friendly with the negotiating power in his hand as sellers try hard to get rid of the piled-up inventory.

In 2022, buying property in Hyderabad seems like a smart long-term investment. An aspiring buyer can contact and buy a property with Praneeth Group. The above factors indicate that 2022 is the best time to purchase a property and secure your future.