16 June, 2021

Buy Your Home Now

Buying a house is now more attractive, affordable and can provide you a tax break to top it off

Punit Paranjpe
Buy Your Home Now
The prospect of owning a roof over your head and the ground beneath your feet couldn’t be any more real than it is today. No longer do you have to put aside every other penny over a lifetime to be able to consider such a big-ticket purchase. A combination of realistic and affordable property prices, an abundance of properties to choose from, low-cost financing options and attractive income-tax concessions have brought this dream closer to the doorstep of the average middle-class household.

Prices of residential properties have dropped 30-40 per cent from their all-time highs of 1994-95, and are at basement levels. Says Anshuman Magazine, director, CB Richard Ellis, real estate consultants, "The 1994-95 period saw property prices soar. When the market crashed in late-1995, it was the first time the real estate sector had dipped."

Secure in the knowledge that the dominant purchase group in the residential real estate market is end-users, a category that rarely withdraws the money committed by it to a project, developers are going ahead full steam with new projects. Says...

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