Why 2020 is the Right Time to Buy Homes Under Affordable Housing Scheme

  • Why 2020 is the Right Time to Buy Homes Under Affordable Housing Scheme
  • January 11,2020
  • 1
Why 2020 is the Right Time to Buy Homes Under Affordable Housing Scheme

With the advent of major reforms and changes, real estate favouring declarations and affordable housing loans in India, buying affordable homes in Gurgaon is becoming an opportune for many people. As per the real estate news, the Affordable Housing Scheme in Gurgaon is the most deserving and awaited industry status which is making home buying affordable for people belonging to all segments. Besides, the noteworthy and steady rise in the employment in Gurgaon the annual household income has increased and this has demand for affordable residential properties which are within the means of home buyers of any budget.

Having said that, below is the glance at some of the reasons why 2020 is considered as the best and suitable time for investing in the affordable properties in Gurgaon.

RERA:
RERA is the radical policy that has significantly transformed the realty market of India. With the advent of Era Estate Regulatory Act, there is a higher accountability and transparency within the realty market of India and this has streamlined and improved the marketplace. RERA actually decide a cut-off date for every project and this compels the developers and builders to reassess their business models and deliver the project within the stipulated deadline.

After RERA an increased urgency and awareness to complete the project within the stipulated deadline is seen in Gurgaon. This has enhanced the overall confidence level of the homebuyers in Gurgaon.

Extension of Pradhan Mantri Awas Yojna:
The entitled benefits under the PMAY have been increased recently with other inclusions of more number of eligible home buyers. Under the affordable housing policy in Gurgaon, the permitted carpet area for budget 2BHK apartments has been increased and all the projects developed under the scheme have given an extension till 31st of March 2020. So, it is the perfect time to make the most out of the benefits that are being offered by PMAY credit linked subsidy scheme or CLSS. This is also increased the number of interest homebuyers and many people are now focusing towards investing in the affordable housing projects to get the subsided value for real estate purchasing.

REPO Rate of RBI has been Reduced by 25 Basis Points:
In a bid to increase the economic activity, Reserve Bank of India has decided to reduce the REPO rate to 6% with the corresponding reduction by 25 basis points. After this decision the overall home loan interest rates have been reduced and most of the nationalized banks in India are compelled to follow the rates to benefit the prospective homebuyers in India. This is the smart move by RBI in order to increase the value of realty market and also the sales in coming years. This will also boost the overall realty sales in 2020 and further.

Higher Tax Savings on Capital Gains:
Government has also announced that how potential homebuyers in Gurgaon can take benefits of saving tax on the capital gains by investing their resources simultaneously in two residential properties from among the best Upcoming Affordable Housing Projects in Gurgaon. Initially, the taxpayers in India were only allowed to invest in one residential property and they can’t buy another property in their name.

But now homebuyers can cash in on the rollover of capital gains on one occasion in their entire lifetime because the government has put a cap on Rs. 2 Cr. This modification has been well accepted wholeheartedly by the real estate industry, while giving the tax payers a good reason to celebrate and express joy.

There are many affordable housing projects coming up in Gurgaon and most of the projects were developed by some of the reputed and reliable developers and builders. However, there are certain factors which you are required to keep in mind before investing in the affordable projects in Gurgaon. PlanMyProperty.in is the real estate website that specializes in offering you complete details about all upcoming affordable projects not only in Gurgaon, but also in other cities of the country. This is the website that provides you comprehensive details and reviews of all affordable projects that are being developed by some of the reputed builders in Gurgaon. So, based on the reviews and details provided by the website you can make wise and informed purchasing or investment decision in realty market of Gurgaon.