Bangalore! The city offers endless opportunities to everyone who walks through her gates. ‘Namma Bengaluru’ is an emotion for the people who live there. It’s just blissful and beautiful all year round and people cannot stop singing praises. Owning a space in this city and starting a family here are dreams of many who have fallen in love with this cosmopolitan, high-tech city. But is it the right time to invest in real estate in Bangalore? Undoubtedly, YES!
2020 has been overwhelming, to say the least. It is no secret that the global dynamics and economies were completely crushed by the pandemic. The real estate sector was no exception. However, according to a survey conducted by 99acres.com, nearly 60% of people who were planning to buy a home prior to the pandemic are still interested in the same. 82% of the respondents in another survey also confirmed that they are looking forward to buying a new home in the year 2021. What is prompting buyers to make this choice?
Here are a few reasons why we think it is the right time to invest in real estate.
1. Low-interest rate
Home loan interest rates are at an all-time low now. The rates that were in a range of 8-9% are now between 6-7%. However, these rates are flexible and subject to change per market conditions and that’s why most people consider this the best time to invest in residential real estate. It’s only a matter of time before the market corrects and interest rates are back to their normal range.
2. Lucrative investment
Real estate is one of the safest and wisest investment options in India. The real estate market in Bangalore has always seen growth in terms of profitability, demand price index, and potential job opportunities. In short, real estate investment in Bangalore, especially in the hot spots of Bangalore, can never be a bad investment. With the property prices at their lowest, now is the time for real estate investment. Areas like Koramanagala, Bellandur are always in demand and any investment here is bound to offer excellent ROI!
3. Ready to move in homes
The pandemic has motivated so many people to realize their home ownership dreams. Whether it is due to the WFH culture that’s become the new normal or just the fact that they want a space that’s truly theirs. People are seeking spaces that are ready to move in. Everyone just wants to move into a space of their own as quickly as possible!
4. Government initiatives
The government is also pitching in with new measures and programs like Pradhan Mantri Awas Yojana and income tax relief for developers as well as homebuyers for enhancing the real estate market in India.
Be it luxurious retirement homes or lavish 2/3/4 BHK apartments, Bangalore city has it all. Especially the areas like Koramangala with its smart infrastructure, IT hubs, and malls, schools, hospitals and amazing green cover. The area is a favourite aspirational destination for most homebuyers and investors. Being one of the fastest-growing cities in Asia, it is safe to say that Bangalore will never lose its charm.
Advaitha Aksha is an exclusive luxury project offering ready to move in flats in Koramangala. The project has 3 and 4 BHK flats for sale near Bellandur that offer the best amenities and luxuries.