For many people, going through the nationwide lockdown was truly difficult. Apart from the chaos and dealing with the fear of contracting the virus, few people were also dealing with the idea of working from home, while managing school and also their home. “Where is the space?” was a common question that was ringing loud and clear. Everyone felt like they were interrupting the other person. From pressure cooker whistles interrupting zoom calls to TV shows interrupting online school.
With space issues in most homes, many people found it extremely hard to find a quiet corner in their abode to set up a home office or even have a dedicated space for their kids’ to attend online classes, let alone finding a corner in the house for some me-time. If you always had a plan to buy your dream home or the lockdown has stirred the desire, then now is the time. With home loans being at an all-time low, the timing couldn’t be better.
You can find premier flats for sale near Bellandur and other up and coming areas in Bangalore. But if you are particularly looking for ready to move flats in Koramangala, there is no property better than Advaitha Aksha. These are easily the best luxury apartments you can get in Koramangala. Here’s why you should be looking at moving into your home now.
1. This project is located in the heart of Koramangala and is meticulously crafted for high life. Advaitha Aksha has the best amenities, landscaped gardens and water bodies. So if you are looking for ready to move flats in Koramangala, then do check out Advaitha Aksha.
2. Top banks like SBI, Kotak Mahindra, HDFC and ICICI have slashed their home loan interest rates. While SBI is offering home loan rates starting from 6.70% per annum, ICICI Bank has reduced the home loan rate to 6.70%, which is the lowest in 10 years by ICICI Bank. For loans above 75 lakhs, ICICI has reduced the rates to 6.75%. Other banks like HDFC have reduced their loan rates to 6.75%, and Kotak has lowered it to 6.65%. State Bank of India has also offered a 100% waiver on processing fees which is a bonus. For people thinking to buy a home, these loan rates are gold.
3. With home loan rates being at the lowest in nearly 15 years and bond yields rising, nobody knows where the interest rates are headed in the future. In an article by Indian Express, Ambuj Chandan, President Consumer Assets, Kotak Mahindra Bank, said, “This is probably the best time to buy a home”. Whether it is flats for sale in Bellandur or ready to move flats in Koramangala, buy your dream home now!
But wait, why are banks doing this? According to the RBI, the pandemic affected the housing loan growth in March 2020, which was pushed into 2020-21. The housing loan growth declined from 17.5% in January 2020 and further decelerated to 7.7% in January 2021, which is a huge fall. Banks have realised that housing loans are a safe bet currently as the risk of default is very minimal. This realisation has encouraged banks to offer attractive home loan rates to pick up housing loan growth as much as possible.
The attractive home loan rates can be availed only for a limited period, ending on 31st March 2021. So if you are considering buying a home, the time is now.