The residential sector exhibits substantial growth potential, underscored by sustained demand over the past few years, complemented by consistently stable interest rates and robust GDP expansion. Notably, there is a pronounced demand for mid- and high-priced residential properties.
Every home loan borrower should be aware of the following income tax rebates on home loans. The EMI you pay is made up of two parts: principal repayment and interest paid. The major component of the EMI can be deducted under section 80C of the Income-tax Act of 1961 for self-occupied property.
The Reserve Bank of India’s decision on Thursday to keep the repo rate of 6.50 per cent unchanged came as a huge relief to the real estate industry as well as home buyers paying back home loans.
Even after a rise in property prices and home loan rates, buyers from across segments are investing in real estate. Home loan demand was robust in 2022 and seems to have increased in the months following the rate hikes.
Young Indians will continue to dominate the homebuying segment for the foreseeable future as they seem to be more financially prudent than previous generations.
India’s residential market has witnessed recovery this fiscal on pent-up demand with increase in housing sales despite impediments like rising interest rates on home loans and appreciation in property prices.
Experts believe home insurance is essential because it may assist offer a financial safety net if the unexpected happens. Homeowner’s insurance plans typically cover most damages and personal liability for any harm caused to others.
When buying a home, the homebuyer should be able to pay at least 20 per cent of the property value as the down payment. Thus, making saving for the down payment a goal-based, long-term project.
There are plenty of reasons why a home insurance policy is an indispensable addition to one’s financial portfolio. The most significant reason is that it acts as armour to protect your home against potential risks and damage caused by unfortunate events.
A good investment has the potential to transform our lives by providing us with sufficient funds to pursue our dreams. A guide to what you need to understand if you are planning to invest in Real Estate.