It has been a month since our Prime Minister Shri Narendra Modi shocked the nation with the announcement of nullifying the currency notes of Rs. 500 and 1000 in India. While this move has received mixed reviews across the country, Real estate developments Pune have warmly welcomed this bold decision. In the long term, this move against black money will prove to a boon to real estate and a win-win situation for both, buyers and customers.
Customers are even more delighted as demonetization will translate into a more transparent and organized home buying process, thus soothing the anxiety and stress associated with such a big investment. If you’re worried about demonetization and its impact on the real estate sector, we have some great news for you! The following are 5 ways in which this is a brilliant call for India’s realty market and its customers:
1. Affordable Home Loans
Due to demonetization, the flow of money has increased in the banks from small scale industries and organized sectors, leading to huge deposits. With the liquidity of money, banks will be able to offer home loans with lower interest rates. Buyers can expect a dip of 2-3%, thus making it easier to afford a home loan and its EMIs.
2. Projects in Full Swing/
Real estate projects in Pune will now get completed faster as the pending projects will get the desired funding from banks and financial institutions due to the increased cash flow. This will help customers move into their dream homes without much wait as delayed and held projects will now resume work.
3. Infrastructural Development
Due to the cash inflow to the government, there will be huge investments in the infrastructure of the country, thus enabling better connectivity to affordable housing projects in the outskirts of major cities. Since the government now has lakhs of crores, there will be a boost in funding infrastructure schemes.
4. More Buyers
Since fewer people were in the banking system before demonetization, there was a documented shortage of homes in India. However, now people will come into the mainstream economy and be eligible for home loans, thus increasing the number of buyers in the sector.
5. Transparent Process
A cashless economy will ensure a transparent and assured home buying process. Also, with the GST and RERA implementation, customers can buy their dream home without any anxiety or worries.
This is the perfect time to invest in real estate projects in Pune as you can get excellent returns on your investment. While an FD in a bank gives only 5-6% returns, buying a property can ensure long-term appreciation and will create a lifetime asset for your family. Make the most of this time to book your dream home in one of the leading real estate developments Pune and let demonetization work wonders for your future!