The whole COVID-19 situation has left an intense bearing on the complete economy of India, but especially the real estate sector giving rise to questions like how safe is it to invest in properties on account of the current scenario. The realty market has been buoyant despite adverse consequences which it has perceived due to go-slow in the market, but the potential buyers & investors have been lately going out there. The demand for ready to occupy flats in Thane continues to rise, especially from the NRI clients.
The Indian realty market has vexed over the one year’s time, given the pandemic and it is after effects but the nation’s exodus offers some hope to this situation. The residential property sales have been striving to come up from the limitations that revised housing laws, credit crunch, & demonetization have imposed in the last few years which has left builders with a distended inventory. Above all that, the coronavirus pandemic has triggered salary reductions & job losses which only worsens the market scenario as the housing sales for the top ten cities in India were at the lowest ever in the decade during the first six months of 2020.
Although not many Indian citizens are looking to buy new flats in Thane, real estate builders & developers have observed a considerable spike in the number of queries & demand from NRIs during the financial year 2020-2021. Builders have also suggested that the reason for this includes reducing the value of the rupee, migration of Indians from the Middle East, and low home loan interest rates. Many non-resident Indians may be planning to buy real estate assets in the country, but if this demand does transform into sales once the travel curtail comes to a close-the outcome could be historically high.
Times have passed and yet again, the real estate industry continues to be one of the most appealing asset classes like ready to move flats in Thane that offers heavy and healthier returns on investments along with the affordability factor improving like forever. All these points have attracted a good volume of interest from local as well as NRI home seekers, though the demand has increased exponentially from international citizens despite witnessing one of the most difficult quarters for the property market over the past twenty years.
There are also a good number of multinational brand names tempted to choose India over China as their next preferred destination for manufacturing & production with a growing organization’s perspective. This alone ensures that India takes one step forward for a major inflow of international investments which will impact all the industrial sectors directly as well as indirectly. The international investors have always been on the front line to predict such trends in the market and hence, avail its first benefit, with closed eyes to the common outlook.
While a majority of NRI citizens want to move back to their roots after having spent almost a lifetime abroad, some of them are just looking to buy ready to occupy flats in Thane as an investment in their hometowns. As in the existing situation, they just want to achieve a sense of security by making an investment in their home cities, which is a familiar area for them & they can count on it. The NRI cluster has surpassed local home buyers over the past few years, becoming the catalyst in the real estate market due to the availability of higher disposable income to invest in.
The bringing about of RERA has chiefly stimulated more confidence in international homebuyers on account of the improved transparency in the process of buying ready to occupy flats in Thane with the real estate builders & their projects. The properties are registered and verified under RERA which secures one’s invested money, even if they are out of the country.
International buyers mostly invest in a mixture of real estate, fixed deposits, and mutual funds/SIPs but with the volatile nature of world markets changing wildly with news & media, real estate becomes an ideal choice of asset class for investments.
The rising demand is determined to be lop-sided towards developed metro cities with more preference to ready to move flats in Thane in the current picture. There is a lesser risk involved but instant cash flow generation from the property like rentals along with being a better liquid asset if compared to under-construction property. Real estate is an asset class that is more stable and can generate wealth for future generations if invested in the right place.
A big chunk of the NRI population is facing unstable futures out of India which makes them lay the groundwork for coming back to their own country. Thus, the market is not going to witness the return of just investors but they are also buying ready to move flats in Thane to return to live in India. Many triggering factors lead to increased demand in the real estate sector, much-needed accountability and transparency are some of them.
The rupee has been weak to the dollar and it is forecasted to stay that way for at least this year which implies that NRIs get better value than ever before for their lifetime’s money.
The largest Indian bank – SBI, which is also the biggest lender in the country, has reduced its marginal cost-based lending rate considerably across all natures. Thus, the interest rates have lowered for home loans making buying new flats in Thane easier & more accessible. With all the above points, it is very clear that now is a great time to invest in the Indian real estate market, especially if you are an NRI with enough savings. Most of the developers are also offering worthwhile offers due to the market slowdown, they are getting along quickly with the lockdown regulations to improve the customer experience with virtual site visits to new flats in Thane.
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