By Soniya Gaonkar on Aug 5, 2021 5:37:00 PM
The decision of investing in a real estate property is a really important milestone. True that this type of investment claims a lion’s share of a person’s savings, but there are more important aspects that are yet again related to this decision. A residential real estate property is both your home as well one of the most pertinent investments whose ROI is likely to get only appreciated in the coming times.
Naturally, real estate projects are considered to be one of the best types of investment anyone can opt for. This clearly answers the question - is buying a flat a good investment?
Pune – A potential Real Estate Market
A close look at the construction projects of the city will reveal the fact that Pune have been one of the most promising genres when it comes to the real estate industry. A wide number of constructions projects have been commenced in different parts of the city.
The overall development of the city, the fair number of commercial and corporate enterprises in the suburban vicinity of Pune, the encouraging per capita income, the favorable employment conditions, the buying power in the hands of the people are some of the factors that have helped to improve the condition of the real estate industry in Pune.
Real estate market after a pandemic
The outbreak of the Novel Corona Virus has brought about some real serious changes in the context of world business. Very few industry segments have managed to escape unscathed from the ravages carried out due to the COVID-19 infection cases. The construction industry is no different. COVID-19 has impacted the real estate development industry considerably. It has been observed that launch of new projects have been curtailed by 60%.
Currently, the real estate developers are concentrating on completing the projects that they have commenced so far. However, experts are of the opinion that the future of real estate after covid-19 will not be as bleak as it might seem currently. The decision heads of some of the top-rated builders in Pune are expected a rise soon enough in the future.
For the time being the builders and the realtors are concentrating on bring in some of the best standards of construction both in terms of using the best raw materials and using some of the most environmental friendly ways of completing their projects. The builders are yet again trying their best to complete their projects well in time and to deliver them to their customers on the predetermined time limits.
However not all the segments have been hit. The luxury residential projects in Pune is a fine example which has in fact seen an upward incline as there has been 71% increase in the number of new projects that have been begun between the time period of June 2020 to June 2021.
How investing in a real estate project can be profitable
Whether we talk about the time of Corona or previous to this virus, real estate projects have been considered to be one of the best arenas where you can plan your investment. Whether you are talking about a residential project or a commercial one, the price or the value of the property is only likely to get appreciated in the times to come.
Further if you are able to invest in a premium location then the ROI of the property will be beneficial throughout your life and even to the generations to whom you pass on the property. Hence buying a flat is good investment in pune.
Real estate prices in the times of Corona
A careful look at the industry and the market will reveal the fact that the prices of real estate have been all-time low in the times of Corona. This can be attributed to a couple of reasons. On one hand the demand for such properties have been low since employment has taken a huge hit and the buying power in the hands of the buyers is all time low.
Additionally even the building brands and the real estate developers have been unable to complete their projects as they had promised earlier. This has bought them much flak. As a result the purchase rate has been down. Owing to these reasons and more the prices of the real estate properties have been all time low.
Considering this aspect the year 2021 can be considered to be one of the most favorable times to invest in the real estate industry.
Low bank loan rates
Owing to the massive fall in the GDP and the general financial crunch in the market the banks have floated home loans at record low rates of interest. This yet again has emerged as a huge help for the interested buyers who are thinking of investing in real estate projects or properties. The low bank rates happen to be yet another reason why you can think of investing in a real estate project in the year 2021.
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Trend for 2021
The general layout of the different wave attacks of this virus indicates that the situation is unlikely to improve for the world economy and for India in particular in 2021. The outbreak of the second wave on April May 2021 has set the scene that is likely to get continued for the rest of the yea.
Hence the dip in the prices of real estate and the all-time low home loan interest can be availed for a large part in 2021, making the year rather suitable for investing in real estate projects.
Kohinoor Group, Pune
If you do have similar plans in 2021 it is advisable that you explore the options of some of the top-rated real estate developers like the Kohinoor Group Pune.
This is one of the most prestigious real estate developing brands in Pune that has come up with some of the best quality residential and commercial projects in Pune. You can always be assured of investing in some of the best quality designs and premium locations when it comes to one of the Kohinoor Group projects.