Transactions for buying a home are reported to increase on auspicious days. This “physical asset” is unquestionably chosen over alternatives like gold, and that too for good cause, whether the transaction is for personal consumption or as an investment. The decision-making factors for the younger generation and women are clearly defined as the buyer profile shifts in terms of age and gender.
For instance, Thane locales during Gudi Padwa 2023 saw higher than anticipated home purchase activity. The auspicious day of Gudi Padwa this year saw the booking, purchase, or move-in of 1,723 properties, according to data compiled by CREDAI-MCHI Thane from real estate developers in Thane.
Gudi Padwa 2023: Festival benefits await home seekers
Asset type
The president of CREDAI-MCHI Thane, Jitendra Mehta, noted that real estate is a reliable asset class on a number of fronts. The level of safety that comes with owning a home is unmatched for the buyer. It is a safe and secure choice for the investor, offering both rental income and capital growth. It is clear that both the buyer and the investor benefit from this.
The volume of sales and new launches on the auspicious day were indicators of the improved house buying sentiment. Developers of real estate stated plans for ready-to-move-in residences, booking incentives, flexible payment plans, etc. He emphasised that the developers also provided incentives to sell their homes and generate the most leads, which eventually result in genuine home purchases.
Festival zeal
The President of NAREDCO Maharashtra, Sandeep Runwal, confirmed that Gudi Padwa is a memorable occasion for many people. Individuals purchase expensive goods like gold, electronics, etc. as a show of wealth and a good omen since they believe it to be very auspicious. As a result, this is a great moment to invest in real estate because many people want to purchase their ideal home on Gudi Padwa. The ideal day to purchase your dream home also comes with enticing offers and discounts from developers.
The Guardians, a real estate advice company, reported that on the auspicious occasion of the New Year, which is observed under a variety of names across the nation, including Gudi Padwa, Ugadi, Sajibu Cheiraoba, Navreh, and Cheti Chand, it made its highest-ever sales income of over Rs 356 crore.
Real estate trends
These improvements follow logically from the trends mentioned in NoBroker’s annual Real Estate Report, which claims that in 2022, customer demand showed resilience despite changes in market circumstances. It was initially fueled by elements like historically low home loan interest rates and developer incentives, but it continued to be robust even as home loan interest rates and house prices rose in the later part of the year. In fact, there is a severe shortage of ready-to-move-in residences, which has greatly increased consumer interest in new project launches.
According to the survey, 71% of participants would choose to invest in real estate over other financial products like gold, SIP/stocks, or bitcoin. In fact, 89% of landlords said they were considering investing in a different property. Also, 73% of respondents stated that renting out their property is now considerably simpler. Even Nevertheless, 56% of them have admitted to raising their rent since COVID.
source from: msn.com
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