For a first-time home buyer, or a buyer who is purchasing second home as an investment, Indian homebuyer can make the most of tax benefits on your home loan interest and principal.
Typically, buying a house represents the single greatest investment and debt. Adequate research, knowing what you want and what you can afford, and the help of a real estate professional agent are the keys to the best outcome.
Developer Incentives: As developers strive to meet their annual targets, they might offer attractive discounts, freebies, or special packages during the financial year-end. This can lead to significant savings on your dream home.
Tax Advantages: For homebuyers availing of home loan benefits, the financial year-end can be advantageous. You can potentially claim tax deductions on the interest paid on your home loan for the entire financial year, even if you purchased the property late in the year.
Search Properties Emi CalculatorAs the financial year end is close, to drive the revenue and sales figures up, Developers provide lucrative offers to grab encourage the buyers confidence and improve brand presence. Being the closing month of the financial year, the Indian property market witness a slowdown. The unit values are on the lower side in comparison to the festive time when the property prices soar high. The housing finance companies offer attractive offers, deals and schemes that boost the confidence of the home buyers.
Under Section 80C of the Income Tax Act, saving of Rs. 1.5 lacs on the principal amount can be done. Similarly, a person who purchased a home for self-occupancy can avail a tax relaxation of Rs. 2 lacs under Section 24. Along with this, a deduction of Rs. 50,000 can also be availed under Section 80EE. However, only the first-time homebuyer can enjoy this rebate. Thus, the fiscal year end is the perfect time to buy a home in India.
The closing of a financial year, usually slow-down the business and thus the developers don’t hesitate from offering discounts on demand. March is a perfect time to buy a home as more homebuyers with the purpose to self-occupy a residential property prefer to complete a real estate deal.
Many homebuyers have a question that when is a good time to buy a home in India and March is the answer to it.
March is the time when the houses are cheaper as the homebuyers and the developers both work forward to settle down the balance sheet. The festivities like Ugadi, tamil puthand(New Year) and Kerala festivals like Vishu, makes the developers to plan several incentive structures and payment schemes to drive the sales and makes this financial year end, timing perfect for dream home purchase. The shrink in the number of buyers in the real estate market and the prospects looking for ready to move in property get a better option in a budget-friendly manner.
The process of Real estate apartment purchase has changed in these recent years and today, it is the most booming, assured investment option and financial year end, allows the customers to plan and choose perfect investment opportunity to get maximum tax rebates, ROI and value for money. An ideal investment could reap benefits for the buyer, on years to come and projects from Sowparnika has always been one of the best investment choices, primarily due to the construction quality, location of the project(Most happening future oriented locations), Proximity to lifestyle needs, Highest quality at affordable pricing and maximum ROI for the projects, as their pricing are focussed on the first home buyers and budding teen customers.
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