The demonetisation move an year back sent ripples to the Indian real estate sector. The sudden ban on Rs 1000 notes and old Rs 500 notes on November 08 triggered fear-mongering among the industry players who postulated that the move would wipe out lakhs of crores of value out of the market.
However, the real estate market found its feet and saw a surge across the country during the demonetisation quarter. Reports suggested the House Price Index (HPI) went up from October to December 2016.
The demonetisation move transformed the realty space, especially for the buyers, as it prompted transparency on pricing, gave clarity on supply-demand data and confidence in the sellers.
As one year has passed, it can be safely said that this is the best phase to be a buyer. Demonetisation has turned realty into a buyer centric market, which is thereby beneficial for the builders because it will give momentum to the volumes.
The real estate business remains an aspirant category and it is time that buyers monetise back to reap the benefits. The market is dynamic and the interest rates, too, have softened. In the primary markets, developers are bundling deals and attracting buyers.
One of the attractive schemes that is catching people’s attention is by Tata Housing, which is rolling out interest rate at just 3.99%.
This has triggered major interest among the buyers. Tata Housing in association with Indiabulls has come out with a lucrative scheme, which is offering 3.99% interest rate to the customer for a five-year tenure of the total loan tenure of 20years. Post five years, the interest rate applicable to the customer will be as per the prevailing rate for Indiabulls at that point in time.
Therefore, the buyers should watch out for market trends and grab the opportunity as we have already hit the new normal in the real estate sector.