Turning the dream of having your own home is always a feeling that is inexplicable in words. That mere feeling of entering your home with your family and well-wishers in the background is more than enough to experience a wave of goosebumps.
There is never a good or bad time for making a real estate investment hence, if you are intending to book your dream home, here is what Indian real estate can expect in 2019.
- With numerous government initiatives to connect suburban localities with big cities and many in the pipeline, the Indian real estate in 2019 will witness a big boom in such suburban localities. This is why the property rates in these regions will rise which will also benefit the property owners who have rented their properties to tenants.
- Real estate regulatory authorities will further take stringent actions on defaulting developers. Hence, in 2019 the Indian real estate can expect more investment in the under-construction properties. Only those developers who are committed to complete their projects on time and have resources to develop will remain in the market.
- As per the real estate experts, the year 2019 is a year filled with positivity for the real estate. The chances are, the property price will remain stable in 2019 in most cities of the country. With the recent on-going concern of defaulting loans in banks and Non-banking Finance Companies (NBFCs), the developers will have to depend totally on homebuyers for funds to develop under-construction properties. Since buyers are the only option, so the Indian real estate in 2019 can expect that even developers will not increase the prices for their properties.
- For numerous non-salaried homebuyers, non-banking finance companies used to be the most preferable choice. It is because of the fact that borrowing from NBFCs requires less paperwork as compared to their counterparts. But now when NBFCs are struggling with cash crunch issues, homebuyers might have to struggle in arranging finance for the home loan.
- As a homebuyer, if you want to make things favourable for yourself, it is advisable to have a good credit score before you apply for a home loan. To make your loan file stronger, you should try to pay at least 30% of the total property value from your own funds.