Why is this the best time to buy house in Delhi?
With the steep rise in prices for almost everything we purchase, it is obvious that the demand for all things expensive would eventually fall. The most affected industry in Delhi that is affected by rising prices is real-estate. There has been a steep decline in sale of houses in Delhi over the last three years as the acute rise in prices has affected many people. It has been noticed that sales of residential properties have dropped to over 50% in recent years.
With the decline in sale and purchase of residential houses, builders and owners are left with no choice but to sell the houses at a cheaper rate. Many developers have already begun to lower their selling rates in a desperate attempt to get their money faster to invest elsewhere. This is therefore the perfect opportunity to purchase property in Delhi. The decline in sale of houses has affected property rates not only in Delhi but in many states throughout the country.
You can also expect the price to fall in the near future if the situation remains the same with there being no difference on the sales front. Applying for home loans in Delhi too will be a convenient and less bothersome option to purchase houses. Financing bodies such as PNB Housing, HDFC, and DHFL provide easy home loan at attractive rates. The cost of such borrowings is less than what you would have to had if the prices not been lowered. The strain of paying the EMIs on time over and above your usual monthly expenses too wouldn’t be taxing with lower interest rates.
Purchasing a house in Delhi with all these circumstances adding you financial benefit is therefore a wise decision at this time. With financing bodies providing home loans to you at low interest rates, the fall in price of the properties is an additional bonus. Thus it can be said to be the right time to purchase a home.