The Indian realty is in a downward spiral. Since last one year or so, it has been in a state of dormancy, stagnant, barely showing any signs of growth. This is intensified by the fluctuating global economy and financial jeopardy. The developers have been holding on to a large number of inventories, hoping for the market to revive. The resurgence, however, is tenebrous. The economy is not stableenough to have investments pouring in.
But just like every coin has two sides, there is an upside to the prevailing scenario. At a phase where the developers are having a tough time making profits, this time can be well utilized by the buyers to their advantage. Amrapali group, which is a pioneer in providing luxury residential apartments at affordable prices, has the largest number of such visionary projects to its credit. The group’s objective is not to earn exorbitant profits, but to provide the people an elevated standard of living.
Purchasing a property when the market is lying low comes with a multitude of benefits. The biggest one among them is the reduced prices that the developers offer in order to reduce the number of inventories at their end. You could top it up with additional benefits like furnished goods or bargain for other allowances. One of the reasons why customers are wary of buying when the market isn’t flourishing is because of a fear of going against the trend. Normally, people tend to buy property when the market is growing as they prefer going with the drift and end up paying more.
This behavior is backed by the fear of prices depreciating further if they purchase while the market is slow. No one wants to purchase a house at ` 20 lacs, only to see the prices dropping to ` 19 lacs the next month. It is difficult to predict if the market has already hit the bottom. This requires a long term view to counter.
If you invest in a property with a long term view, it is certain that it will give you good returns in the end. Also, from a relative viewpoint, while buying a property in a slogging scenario, you pay lesser price for it than any other customer who had to spend more than you for the similar unit.These factors make buying in current scenario a sensible decision.