When is the right time to buy a house? Akshaya Tritya may be perfect, says JLL India

The festive season in April 2018, will be a good time for end users to make their purchase decisions. The month includes the Indian New Year on April 14-15, followed by Akshaya Tritiya, where traditionally people make significant purchases and investments. Most micro-markets across key cities of India have been experiencing stable capital values over the last few quarters, which makes markets conducive. Also indicating that there is further no softening of values in general. The appreciation in capital values have remained in the range of 0-2% in 2017 over the previous year for most micro markets across India, especially the suburban and peripheral markets.

With RERA implemented in most states, entering the residential market at this time will be a good decision given that the investment is legally protected and pricing is right.

Ashutosh Limaye, Head Research and REIS, JLL India, said, “Aside of the traditional festivals, even corporate India awards its employees with annual increments and performance bonuses in this month. Thus the sentiments in the market are positive. This will be a good time for buyers to make their pending residential purchases as capital values across most micro markets in key cities of India are at conducive rates.”

During this festive season, some development companies make special offers, such as plan to introduce flexible payment schemes and interest subvention schemes. Some developers may also explore waiver of the maintenance charges for a specific period of time like six months to one year or offer free memberships to campus facilities like club house etc. The aim is to help the buyer with a manageable cash outflow so that effective monetary benefits are experienced by the buyers.