This year has unleashed colossal changes that have impacted every sector, including real estate. The pause in economic activities due to the COVID-19 pandemic has compelled us to keep most of our plans on hold. The world is currently reeling under economic pressure, which has affected the purchase and sale of the property also to a great extent. In this situation, the Maharashtra government recently announced a reduction of stamp duty for a limited time in 2020 and 2021. This development has generated great buzz in the real estate sector. It has given a new lease of hope not only to home buyers who’d been planning to buy apartments in Pune but also to property developers. It’s like a golden opportunity for people interested in buying flats in Pune which they don’t want to miss.
Big-time Bonus for Buyers of Affordable Apartments in Pune
The reduction of stamp duty announced by the government of Maharashtra is expected to especially benefit buyers of affordable homes in a big way and bring cheer to property dealers as well. Months of inactivity due to the lockdown has affected everyone’s spirit and plans of buyers and sellers alike. Customers looking for affordable flats in Pune are excited at the prospect of finally being able to buy a home that was inadvertently delayed.
Now’s the Time to Buy Flats in Pune
Whether home buyers purchase apartments in Pune or elsewhere, a considerable amount of money is spent on stamp duty charges. The current COVID-19 period has made taking financial decisions, especially buying a home, seem daunting. As a result, those who were planning to buy residential properties decided to wait until the pandemic would come to an end. However, there’s no sign of that happening in the near future. As a result, people genuinely in need to buy flats in Pune were feeling greatly concerned. The reduction of stamp duty is like a ray of hope for them which has brought them much relief.
Much More for Home Buyers to Anticipate
People planning to buy apartments in Pune have a slew of exciting developments in store for them. The government has taken a number of initiatives that bring cheer to buyers looking for apartments in Pune:
Low home loan interest rates: Since most homebuyers need home financing for the purchase of property, banks have lowered home loan interest rates, under the directives of the RBI in view of the halt in economic activities.
Easy Payment Plans: This arrangement is no less than a bonus for people who’re faced with big amounts to be paid again after a certain period of time. Whether it’s your credit card, booking tickets for travel, payment of loans, or a huge purchase such as property, easy payment plans provide the much-needed respite. You can now purchase a home and yet be free of the pressure of repaying big amounts of money every month with this initiative.
Approaching Festival Season: It’s soon going to be the festival season in India. Major festivals like Dussehra and Diwali are around the corner. Most companies and sellers across industries, including real estate, give heavy discounts to customers during the festival season. Homebuyers have always availed attractive discounts on the property all along on festive occasions. This year might see property sellers provide even more offers and discounts to induce buyers who may hesitate to make big financial decisions.
With the reduction of stamp duty coupled with incentives like lower home loan interest rates and others, the real estate scenario is finally looking brighter. People looking for flats in Pune are showing eagerness and inclination to purchase flats as it seems the best step to take in current times.