The upcoming three to four months are the most joyful seasons of the country, with many people preferring to make significant investments and purchases of their life during the auspicious period defined by the different festivals starting from next week.
Despite the Coronavirus concern, Noida Realty Sector appears to be optimistic about the upcoming festive season, buoyed by increased house sales in recent months. Several current assessments issued by property experts indicate the beginnings of a residential real estate resurgence.
No surprise, a large number of developers are once again betting big on the festive season. The hope that sales will rise further during this season can be attributed to the fact that people have begun to recognise the value of having a flat of their own in the aftermath of the pandemic. People are also looking for ways to enhance their present living situations due to the recent work-from-home trend. Developers are also providing enticing incentives to entice consumers.
Experts Say on Noida’s Realty
According to the experts, as the economy is gradually recovering, Noida’s realty is showing a favourable trend, as indicated by global rating agencies and think-tanks updating NCR’s growth predictions for 2021 and 2022. The increase in sales of residential properties in the first quarter reflects this positive shift, indicating that developers are more confident in liquidity support and consumer sentiment. On the demand side, metrics have generally remained stable. The job market reopens in various sectors, giving people the confidence to take advantage of the realty sector that has been most affordable in the past few years.
As we are talking about the increase in sales of Noida realty in the upcoming festive season, we must know why people should invest in property just after the pandemic surge. So, these days people desire to acquire or invest in property to generate rental income more than ever before. Previously, lower ticket sizes for investors were rarely available. As a result, the fractional investment option in Commercial Real Estate (CRE) has come as a great relief to small ticket size investors. It is the ideal method to achieve financial stability during this epidemic era.
After a difficult period, everything has begun to fall into place for the real estate sector, and individuals are now interested in investing in real estate assets. One of the key reasons behind this is that the prices are competitive and have reasonable financing rates. Moreover, the Government is making purchases more accessible and is investing cash in the sector. Market attitudes are also considerably better, as seen by different market data pouring in; the need is to have suitable properties that meet the criteria of buyers or investors.
The roles of banks and other institutions
Furthermore, the Government’s schemes and incentives and reduced interest rates given by banks have been essential contributors to the movement of inventory in Noida’s affordable realty sector. India’s largest banks and builders provide interest rates and discounts that have not been seen in a decade to boost demand ahead of the festive season. Lenders such as State Bank of India, Housing Development Finance Corp., and Kotak Mahindra Bank have slashed home loan rates by 15-60 basis points to between 6.5% and 6.7%, the lowest level in a decade, in anticipation that consumers will loosen their purse strings during the three months.
Thus, these opportunities cannot be missed out. So, if you are also thinking of investing or buying some property, this might be the best time for you.