In order to bring about a major change, or achieve a major objective, there is always a need of bigger and a bold step. This year, that step was the Demonetization. With the P.M. announcing demonetization, things changed and the hope of a better and stronger India came out. One of the sectors that is going to be affected by demonetization the most is the Real Estate Sector. So, let’s have a look on how the Demonetization is going to make Real Estate Sector even stronger:
Since we had the RERA which lead to significant changes in the system and environment of the Real Estate Sector, consumer friendly policies and had led to the transparency of the system. It had also put up a huge control on the Corruption within the Real Estate sector. But still there was some lags in the Act, some gaps and shortcomings which needed to be fulfilled.
Those gaps and shortcomings were fulfilled in the month of November with the announcement of Demonetization. With this bold step of the government, it is going to have more control over the ones who are engaged in corruption. This step will also lead to the better tax collection system than ever before and each citizen of the country will be contributing to the same. Tax Benefits, Low Interest rates, Lower cost and better financial management for the developers are just the starting bonuses for the people of the country. Lower EMI’s will lead to higher loan eligibilities and thus have a great and strong impact on the Real Estate Sector as the projects will be delivered with great quality and on time.
This is not over yet, customers will be having more protection in the R.E. sector than ever before. Finally resulting in the Better Demand and Better Fulfilment.
Do have a look at some stronger and positive impacts of Demonetization on the Real Estate Sector:-
- Cheaper Home Loans
Since a huge amount of funds will be available with banks now, rate of interests will turn down low and Home loans will be down by at least 7.5%
- Lower EMIs
A significant portion of the Indian population will be available to fulfill their dreams and move into apartments as the rate of interest will be down by a considerable rate leading to lower EMIs.
- Attractive Investment Schemes
Investment Market will be on all time high because of the lowered rate of interests. Moreover, more and more companies are coming up with their attractive idea to increase the investments and make India the fastest growing economy in the world.
- More buyers
As we already saw that the rate of interest will be lowered down by a considerable amount and with more people turning to bank can enjoy the benefits of home loans and finally make their dream possible of owning a house.
- Greater ROI
Every investor finds it more fascinating and profitable to invest his money in property than earning bank deposit interests. Plus the benefits that come with time in the property investments make this even a greater deal.
- Better and Improved Infrastructure Facilities
With this step of the Indian Government, the treasury will be on all-time high. And the government will be having enough funds to work for the development and the growth of the country. We will be seeing more projects like the Swacch Bharat Mission, Housing for All etc.