This is The Year When You Should Invest in A Home
When you buy a home in India it means saving up for decades to be able to buy a good quality home. For so many of us our dream of owning a home comes true only later in life. But with some revolutionary changes brought in by the government, every Indian will now be able to own a home.
Real estate industry now has to work in favor of the customer.
For the first time in several years the real estate industry is witnessing several improvements. A number of reforms and policy initiatives have been introduced to regulate the sector. Most of these work to protect the interest of the customers. Making affordable homes the top priority is the move that will make it possible for everyone to own a home.
For buyers, the risks of extra spending will disappear.
Before RERA had been implemented the homebuyer was the one taking the risks. If there were problems of delays, quality, title, and changes, they were all to borne by the customer. But with RERA, the developer will now be responsible. And if the project is incomplete or possession isn’t given within the agreed timed-period, the developer has to return the total amount with interest at such rate as mentioned in the agreement to sale.
Affordable housing is real and here to stay.
The government is introducing policy initiatives to achieve Housing for All. The aim is to provide low-cost housing to middle class and lower income groups. To give incentive, the developers taking up affordable housing projects will be given 100 percent service tax exemption. In fact, affordable housing is now tagged as infrastructure status to facilitate fund flows. And the credit-linked subsidy scheme is giving home loan subsidy to those buying their first homes.
Even the standard of living is going to improve.
The government is not just committed to making more homes; but improving the infrastructure in the cities as well. The rapid development of roads, hospitals and other structures is opening up new areas for construction. The mission that aims to provide basic services like water supply, sewage, urban transport to households is going to improve the overall standard of living in the country.
The developer that won the race of creating affordable homes.
Several developers across the country are slowly venturing towards affordable homes. However, one developer in Punjab had the foresight of knowing the necessity of low-cost housing. Joynest predicted Housing for All as it has already launched affordable housing projects in Zirakpur and Mohali. Its affordable 3 BHK apartments do not compromise on good standards. And in sync with PMAY, first time buyers are receiving home loan subsidies.
These policies will be enforced in the coming months and owning a home will be easier. So, if you dream of owning a home, this is the year it you can make it true.