Invest Mango, The real estate industry is recovering fast, post COVID and emerging into the economic world at a staggering speed. Prospective investors are grabbing the opportunities such as lower circle rates, lower RBI interest rates, and lower property rates.
Are you contemplating investing in real estate in Noida? You should have already gone through the flashing news about the rising housing sales in Delhi NCR. This could be the best time you make a move towards your financial goal.
The article’s goal is to clear the air for first-time investors and help them have a vivid view of the current real estate scenario. The article would be highly beneficial for first-time investors or anyone willing to achieve their long-term financial goals. The article shares some key factors and relatively important considerations before investing in a property.
Best Investment options:
Currently, Noida and Greater Noida have numerous commercial developments across the city. There are quite a few commercial properties for sale in Noida available at affordable rates. The commercial property The Delhi Mall might require a huge initial investment. However, it offers a higher rate of return.
The locality highly influences the rate of return. The infrastructural development across greater Noida and Noida is expected to emerge shortly. The Uttar Pradesh Government has allotted nearly 700 acres for setting up the manufacturing hub.
Several IT titans are looking for commercial space to expand their business. Over 1.7 billion sq. feet of commercial spaces have already been leased out in the region, and the experts firmly believe that the demand for commercial spaces is further rising.
Suppose you are looking for affordable options, though. In that case, you must consider Ace City (Ready To Move) properties, as you might be levied off the GST costs, and you can immediately rent out the property for a passive income.
The economic crisis created by COVID has created uncertainty, which has pushed prospective buyers towards purchasing a property as an investment.
Also, if you are ready to move into flats that offer higher tax benefits of a home loan, you might consider checking with a real estate consultant’s services to find a property that suits you. If you are purchasing a residential property solely for investing purposes, there is no other better option than ready to move into flats.
Suppose you have decided to invest in a ready-to-move-in apartment or other kinds of residential property. In that case, you must not forget about the Encumbrance certificate and Non-encumbrance certificate.
The Encumbrance Certificate legally assures your ownership and assures the property is free of monetary or legal issues. Overall, the encumbrance certificate gives you every detail about the residential property.
The Non-encumbrance certificate states the status of the residential property regarding the previous mortgage, home loan on the property, debt on the property. Carefully analyzing these documents will save you from unnecessary fraudulent activities or economic crises.
Acquiring an encumbrance certificate before purchasing the property is highly important. To acquire the certificate, start with downloading form 22 from the governmental registration website. The form has to be filled and sent to the tahsildar with Rs.2 non-judicial stamps and an attested copy of residential proof.
The next step is giving full ownership details and property descriptions in the application. The Encumbrance certificate takes up to 15-30 working days for processing.
Why should you prefer residential property for investing?
Reduction in housing loans:
During the January and March of 2021, the reduction in the housing loans and other government schemes of India has stimulated the housing sales post-COVID. The recent announcements of Indian banks regarding the reduction of housing loans are also favourable for home buyers.
Invest Mango However, the window to avail of the offers is short. Additionally, renowned builders in Noida and Greater Noida are offering favourable discounts for the buyers during this festival season.
- Bank of Baroda has reduced their housing loan from 6.75% to 6.50%. The bank has announced a reduced rate for customers looking for fresh loans, loan transfers, and customers willing to refinance their existing loan schemes. This offer is expected to be valid till December 31, 2021.
- State bank of India has recently announced their festive offers based on a reduction in housing loan interest rates. The customer can avail of the interest rates as low as 6.7%, which means the savings might be up to 8 lakhs if the customer avails of a loan amount of 75 lakhs with a 30-year tenure. Also, the bank has removed the salaried and non-salaried distinction and has waived off the processing fee.
Tax- benefits associated with Residential property:
You can avail of the tax benefits under section 24, section 80 C of the income tax act if you are purchasing a residential property. Also, given the favourable loan interest rates available, conditions are highly favourable for prospective buyers in India. If you are looking for AFFORDABLE PROJECTS in your city, you must consider Ace city.
How do you choose the location of the property?
- Appreciation value: Now, this is a major perspective you must consider if you are purchasing the residential property as an investment. The location highly influences the rate of return and appreciation values. Among the other parts of Delhi NCR, including Gurgaon.
You can expect higher appreciation rates considering the affordable property rates in the upcoming years. The social infrastructure, commercial and manufacturing hubs, and higher proximity are the major advantages of Bhutani Grandthum Greater Noida.
- Governmental affirmations: The Union Information and Electronics Technology Minister had recently commented on the growth of greater Noida in his interview. He stated that over 54 big players in electronic companies have already commenced their operations in the region.
He has affirmed the efforts to bring in infrastructure development for educational, management, global conferences, and other essential events.
- Planned infrastructure: Yamuna expressway is considered to have wider and world-class highways across the city. Several natural parks, greeneries on either side of the roads, supreme management throughout the city, futuristic transportation showcase the well-planned infrastructure of the overall city.Bigger shopping malls and commercial spaces can be expected sooner.ATS projects in Greater Noida West are gaining popularity primarily because of their strategic location.
- Proximity to bigger brands and companies: The renowned owners and companies nearby would add value to the property. The job opportunities and higher standards can impact the value of the property. The Delhi government is primarily focusing on the overall infrastructure of the Yamuna expressway and is offering its support by allocating funds.Yamuna Expressway Industrial Development Authority has recently announced their allotment of 300 acres for the Patanjali group of companies. LG and Micromax have already acquired over 10 hectares of land. On the other hand, IT Titan, Intex is looking to expand their operational space for 650 crores.
- Affordability: The price range is quite essential to consider. Compared to other parts of Delhi, especially Gurgaon, you can find luxury property in Noida from renowned builders at an affordable range. You can also decide after looking at the Ace Divino location map.
Investing in real estate could seem more complex; however, acquiring the help of renowned Real estate Consultants services and thorough research could help you come to a better decision. Taking time to research, list preferences, and budget accompanied with income stability will help you reach your financial goals soon.