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Investing in real estate is undeniably a clever choice. With the growing population, space crunch, and increase in demand for housing, especially in tier-one cities, putting your money in buying property will fetch you great returns as a property’s value always appreciates.
Also, the pandemic has brought in a lot of unexpected turns in the real estate market, which makes it one of the best options for investing in smart cities in 2021.
More on the impact of the Pandemic on real estate
Due to Covid-19, the property business came to a halt, workers migrated, and transportation paused, which left several structures partially constructed. All of this led to various buyers cancelling their purchases. This resulted in a fall in property prices and slashed home loan interest rates.
Although the world is slowly coming out of the shadow of the pandemic, real estate prices are still low, which is why it is one of the best smart city investment options during the pandemic.
Additional Read: Impact of Smart Cities on Indian Real Estate Industry
Government policies
The implementation of the GST and the Real Estate Regulation Act (RERA) has made investing in real estate a lot safer by ensuring that there are no malpractices against the buyers. Along with this, a lot of houses will be built to cater to the growing requirements under the Smart City project introduced by the government.
So, if you plan to buy a house soon, use an online home loan eligibility calculator, apply for housing finance and buy your dream home at attractive prices.
Growing demand
As people have started noticing and understanding real estate trends, the demand for it has been rising. Moreover, the increased migration of people to tier-1 cities like Bangalore, Ahmedabad, Mumbai, Delhi, etc., due to occupational opportunities is leading to a surge in residential needs.
Even if a person makes a real estate investment on a home loan and then lends it for rent, he/she is going to earn a lot. What’s more, the money made through renting can be used to pay EMIs. You can easily calculate your EMIs through home loan EMI calculators available on the internet.
Other developments in real estate in smart cities
Due to measures taken by the government along with skyrocketing demands, builders are now thinking creatively and hiring architects and designers to plan houses according to different needs of various people.
So, you’ll be able to see a lot of design options whether you’re on a budget or want a luxurious apartment. There is something available for everyone. You can also strategize about the payment by using virtual EMI calculators on home loans.
Additional Read: List of Reasons Why You Should Buy a House in Smart City
Final thoughts
The real estate market is again showing growth. With growing infrastructure, along with increased migration as well as job opportunities, investing in smart cities is a lucrative choice.
Also, Tata Capital aids you in your investment goals by letting you avail loans at reasonable home loan rates. So, go ahead and make an investment decision that you’re going to cherish!
