With the exception of some unfortunate cases of delayed housing projects or builders going bust, the home buyers are definitely in a favourable spot at present. Over the past year, in many parts of the country, significant rationalization of property prices has been seen and properties have actually become affordable for a large number of potential buyers. RERA and GST have given buyers a sense of security & home loans are also available at a ten-year low. All this does make you think if it is the right time to buy a home?
According to industry experts with the reign of demonetization, RERA and GST, it is most definitely the right time to invest in properties as the sector will only get more organized and accountable from here on. There was a lull period post demonetization but in a dynamic economy like India, the after-effects are bound to witness newer horizons. The sector is witnessing a positive change with a realistic pricing across property segments.
The RERA Act Maharashtra introduced on 19 April 2017 has come to an aid to address the grievances of property buyers and timely execution of project plans in Maharashtra. Experts believe that because of the implementation of RERA it is now a good time to invest in property in Maharashtra particularly Thane until mid-2025. Beyond 2025 there are chances that prices would increase as the unsold stock by then would have been absorbed. For people who wish to buy homes in Thane, it is the perfect time to negotiate and buy properties here as various banks have slashed their home loan interest rates which are at all-time low. Thus it is advisable for buyers to take advantage of the lower interest rates. Also for first-time buyers, they can get the benefit of the incentives under the Pradhan Mantri Awas Yojna (PMAY).
While property prices in Thane have seen a hike, none have witnessed a hike as steep as the Ghodbunder Road (GB Road), mainly due to its proximity to nature and fast pace of development coupled with Government’s proposed plans to enhance connectivity. Thane enjoys superb connectivity to Navi Mumbai as well as to the Eastern and Western Suburbs of Mumbai via Ghodbunder Road. Besides, the Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways connect Thane to Mumbai’s railway network.
Properties in Thane are still much cheaper than compared to properties in Mumbai. People who have just started a family or a new job can easily afford 1 bhk or 2 bhk flats here. 2 BHK flats sell the most in Thane, more than three or four bed rooms. Areas like Ghodbuder Road, Pokhran Road, Brahmand in Thane are brimming with super luxurious flats. These flats have classy designs & offer amenities of international standard. One definitely needs to splurge a little extra cash to buy a flat in these localities, but the array of available amenities justifies the expenditure. If one is prepared to go slightly to the outskirts of the city, it is quite likely to get a luxurious flats in Thane for the price of one.
Various property experts suggest that it would wise to invest in ready to move flat here where one can immediately shift and save on GST. While looking for ready to move flats in Thane it is recommended that one should opt for 2 BHK or 3 BHK flats that are RERA compliant.
Besides, the easy financial options have made the purchase of flats in Thane more convenient. Today residents do not mind shelling out an extra penny, given the condition that they are pampered in a comfortable residential flat or apartment. By investing in a house here you can be well assured that you will be investing in more than just a property. All in all, it can be easily assumed that Thane proves to be a city full of reasons, which proves that one can invest in the real estate here & benefit from it.