Being free is something that you need it completely. You can never be satisfied wholeheartedly with the partial freedom. Apart from this, freedom is such a word that is defined by various people differently. There are many times when people are unable to decide and analyze on how an ownership of home can bring their much needed freedom in their lives. And it is one of the most indispensable parts of one’s lives as it decides the upcoming future of an individual. A self-owned property translates into the freedom of cycle of landlords and rents that keeps on triggering on a monthly or on an annual basis. As a matter of fact, a property is one such valuable financial asset that it adds tons of financial security especially to your family and children.
However, in case, you are making up your mind to get a home loan for fulfilling your dream of having home, then you can undoubtedly reach out to the IFL Housing Finance as they offer a variety of home loans to the customers, as this helps them in getting a roof over their heads.
Why to buy a house and own it?
One of the biggest reasons behind buying a house and owning is that it gives immense joy to the owner. Apart from this, it also offers a feeling of an achievement a major goal. Many times, there are some of the home buyers who plan to buy home for the first time; in that case, there are many things that depend on the personal fronts. Among a lot of commotions in the mind, there is one such thing that can be considered as a biggest hurdle or as a catalyst too and it is ‘affordability’. As described in the previous article, affordable homes have contributed to up to 20 percent in the real estate’s industry. And as a mission and vision of the Prime Minister of India, Narendra Modi, under the Pradhan Mantri Awas Yojna (PMAY), where affordable homes are even provided to the people. Apart from this, he also announced that by 2022, he has set a goal to provide affordable homes to one and all which is going to cost about two crore. The push is given to affordable housing with the help of numerous schemes and incentives.
For instance, there is 100 percent tax exemption on profits to those developers who are working on the project of affordable housing. And this has made this sector quite attractive for the developers that will help in the increment of inventory for the budget homes that will allow more people to have an access to their own homes.
Indian real estate sector is going through an encouraged growth across asset class with confidence in the market while corporate institutions and investors are actively investing and are leasing office space in the country. Apart from this, there is residential and retail market which is viewing fresh lease on the life with the sales and investments that are making a comeback.
In the current scenario, the market f real estate is a perfect spot to invest in. Apart from this, in the financial year of 2018, there are about 26.4 million square feet of real estate spaces have been already sold. And what’s the new fact in this is that it has made about 50.1 percent of growth over a period of one year.
Changes In One Year
There are numerous changes that have taken place in the recent times. This includes many flagship governmental schemes like Pradhan Mantri Awas Yojna (PMAY) and the developments such as granting of infrastructural status for an affordable housing, implementation of Real Estate Regulation And Development Act 2016, or the RERA, can be considered as one of the biggest change in this industry.
Specifically, RERA has been such an effective tool in addressing some major issues that creates troubles in the sector. Among all these, the most visible and adverse impact falls over the completion of projects or the deliveries of the same. Due to this, RERA have managed in the most efficient way to increase the confidence in customers that has transformed fence sitters into active participators in the game.
Additionally, if someone has already availed the loan for an affordable housing under the Pradhan Mantri Awas Yojna or the PMAY scheme, which is currently covering housings of about 2100 square feet, then that person is eligible for the subsidy that ranges between Rs 2.30 lakh to Rs 2.67 lakh. This is adjusted against the principal amount.
However, in case you are looking for an affordable housing and are looking for home loans, then you can undoubtedly reach out to the IFL Housing Finance as they offer a variety of home loans to the customers. Also, this helps them in getting a roof over their heads.