The Real Estate Market might get stabilised by the beginning of 2018 after the lull due to demonetisation, GST and RERA.
The new launches have come down drastically.
The builders are offering 0% interest and host of other facilities and amenities to attract the Home buyers in Home Melas.
There are huge unsold stocks (apartments and sites) lying with all the builders and hence, by 2018, IT IS BARGAIN TIME. The other benefits include decreased interest rates, but, it is beneficial for self-occupation.
The rent yield after deducting all expenses and taxes is between 1% to 5% P.A., but, if there is a dispute or litigation with the tenant, or there is a vacancy for few months, the rent yield will be wiped out and there will be a negative benefit.
High-end villas, Apartments, and Properties are not in much demand. There is a moderate demand for the apartments in the ranges between Rs.25 lakhs to Rs.50 Lakhs.
It is also said that there are over 1,50,000 UNSOLD apartments and over 50,000 new ones are underway and thus a total stock of over 2,00,000 apartments remain unsold as inventory with the builders by the end of 2018, which will be a boon to homebuyers to negotiate and bargain the best prices ever at a cheaper interest rate.
DO NOT BUY UNAUTHORISED APARTMENTS, B KATHA APARTMENTS, ILLEGAL BUILDINGS AND NEVER TRANSACT WITH AGENTS WITH CRIMINAL BACKGROUND.
There are tooooooooo many offers ONLINE and beware and be careful to transact with such sellers/agents.
For safe buying:
1). Choose RERA approved projects.
2). Buy and transact directly with reputed builders who have a very good rating and goodwill.
3). There are toooooo many agents, trying to sell on behalf of these leading builders, but they have a percentage of profit. Avoid them for your own sake.
4). Transact or contact RERA APPROVED AGENTS. Check for their background before contacting them. Do not contact Agents with political contacts and criminal background.
5). All the negotiation, transaction and payments only through CHEQUES OR ONLINE and obtain receipts for the same.
6). Do not sign any MOU or Agreement before the completion of the entire process.
7). Never make any payment to anyone before the completion of the entire process of the sale agreement.
8). NO CASH TRANSACTION OR DO NOT BUY ANYTHING FOR CASH or PAY CASH TO ANY PERSON OR MARKETING FIRM OR BUILDER OR AGENT.
9). Conduct a thorough and diligent examination and verification of all the title documents and approvals, before entering into any AGREEMENT.
10). NEVER BUY B KATHA PROPERTIES, because it is cheap or comparatively cheaper than the others, but there WILL BE A CATCH