Is it right time to buy an apartment? Here's what you need to know

Buy now or wait?

Buy now or wait? Is the right time to buy? Several such questions come to the minds of buyers when they decide to buy an apartment. If you are finding yourself in the same situation, Sahil Verma, COO at Shray Projects has mentioned certain points that will help you make the right decision. 

Market Trends

Property prices in major Indian cities rose over 40% in 2023. Buying now could be advantageous before further price increases.

Interest Rates

Home loan rates are currently moderate at 8.5-9%. Opting for a floating rate on shorter-term loans might be beneficial due to potential future rate cuts.

Government Initiatives

Policies like PMAY & DDJAY, along with increased tax deductions for affordable housing, favour first-time buyers. Sohna’s proximity to the Mumbai-Delhi Expressway offers promising returns.

Supply vs Demand

Cities like Bangalore, Mumbai, and Delhi face a supply-demand imbalance. Buying now can provide better options and negotiating power.

Rental Yields

Rental demand is rising in Delhi and Mumbai due to a positive economic outlook. Investing in these cities could yield high returns.

Economic Outlook

India’s economy is expected to grow at 6-7% annually. Investing in Dwarka Expressway at Rs. 21,000 PSF (per square foot) today could be lucrative compared to the projected Rs. 30,000 PSF (per square foot) by 2030.

Personal Factors

Consider personal financial stability, long-term goals, and current housing needs. The market offers diverse choices in amenities and lifestyle today.

New Developments

Tier-2 cities like Pune, Guwahati, and Lucknow offer affordable real estate with improved connectivity to major metros.