Most of your well-intentioned friends and colleagues are probably unanimous that investing in real estate offers the best potential for growth. While it may sound cliche, the present state of the real estate market has given homebuyers a cause for cheer. Upcoming projects like Gem Nakshatra Hyderabad offer a range of amenities at competitive rates.
Here are a few ways in which you can maximize your returns on your property investments:
Buying under-construction property
Depending on the location, buying an under-construction property such as Gem Nakshatra is cheaper. With the introduction of RERA, builders are bound to deliver projects on time failing which they invite penalties. This eliminates the risk factor for buyers. Since the cost of buying is low, the potential for growth in value is much higher.
Check the credentials of the builder to minimize your risk. As the project is likely to be delivered in phases, you would also get the flexibility of making staggered payments.
Incentives for first time home buyers
In a boost to home buyers, the government has extended interest rate tax rebates for first time home buyers worth up to Rs. 2.5 lakh under various sections. If you have a monthly income between Rs. 6 and Rs. 18 lakh, you can avail this benefit when buying a home. This can have a significant impact on your total outgo on purchasing a flat or apartments for sale in Hyderabad.
Under the Government’s Credit Linked Subsidy Scheme (CLSS), this initiative is meant to boost house ownership figures and also stabilize the real estate market in the country.
Eliminate additional expenses
If you have used the services of a property broker, you could incur an additional expense of up to 2% of the value of your property as brokerage. Such additional expenses can easily add to the overall cost of buying a house. Similarly, the builder may require paying parking fees and society formation charges in advance, all of which may add to your financial burden.
To avoid this, it is advisable to carefully study the terms and conditions listed in the purchase deed carefully and ask for clarifications to avoid surprises later. Many builders may waive additional charges under special promotional offers from time to time.
As is commonly known, the higher your flat is located in the building, the more you pay. Similarly, a road-facing apartments for sale in Hyderabad may command a lower price than one that faces the garden. A terrace flat offers obvious advantages in terms of privacy and exclusivity, but it may cost you up to 50% more. If you rather want to save a sizeable amount of money, a floor rise premium is best avoided.
With these tips, you can reduce the overall capital costs for buying a property and hence can turn it into a more profitable deal. Another important thing is to compare various home loan offerings before selecting the one with the best interest rates.
Due to a major correction prompted by low inflation rates, property prices have stabilized and buyer demand is now slowly touching pre-demonetization levels. To encourage investors, the RBI has already cut lending rates twice in the last few months. Given the comparatively poor performance of other investment avenues such as equity markets, investing in property holds a lot of promise.
Whether you’re a first-time home buyer or an investor, getting the best returns is probably one of the major reasons that drives you to invest in property. In order to get the best returns on investment, it is vital to assess the property in terms of its location and development potential, amenities available, proximity to educational institutions, hospitals, malls and markets etc.
Also, to maximize your returns on investment, it is vital to consider factors like additional expenses, maintenance costs and floor rise. It is also recommended to invest in under-construction property to capitalize on low purchase costs.
Besides the major metros, Tier II cities such as Hyderabad are witnessing a steady growth in real estate projects. Spread across 2 acres, Gem Nakshathra Hyderabad offers 2 and 3 BHK apartments in an affordable price range. Built to house a gated community, the project is on schedule for completion in April 2022.