The economic growth of the nation has come to a standstill due to COVID-19 or the novel Coronavirus outbreak. Real Estate is one of the sectors that offer a higher employment ratio in India, which witnessed major outbursts in lockdown. It’s a scary time because people are not coming out from their homes, but people are still buying a property! Let’s check out the nuances of investing in real estate during the lockdown.
Why Invest Now?
RBI Announcement: – In order to decrease the disruptions caused by COVID-19 and stimulate economic growth, the Reserve Bank of India (RBI) has cut the repo rate by 0.75% on 27 March 2020. Earlier it was 5.15%, but now it is 4.4%. This RBI circular may bring down the interest rate for customers who are looking to apply home loans and personal loans. Because of the reduced repo rate, home loans can be cheaper than ever. Therefore, it is a good time to invest in property at low-interest-rate home loans.
Additionally, all lending institutions such as banks and housing finance companies are entitled to proffer three months deferment as moratorium to the borrowers who are paying EMI. The borrower is not required to pay EMI without affecting the credit score for the period of 1st March 2020 to 31 May 2020. It is not the waiver of installments, but a postponement of EMIs. These EMI’s will be charged when the moratorium period is over.
Attractive Offers by Many Builders: – Many reputed builders in the PAN India are coming up with many attractive offers to get engage the customers and boost the sale.
BHUTANI Group has started a campaign Stop Virus Get Viral offer. In this proposal, an investor has to pay only a 20% booking amount, but the builder will consider it like a 40% extra booking amount. Furthermore, the builder will also pay 12% assured income per annum.
Another NCR based Mahagun Group is charging only 51000 to book a flat with a 5% cashback offer. This offer is available on 2/3/4 BHK property placed at NH-24 Ghaziabad and in Greater Noida West. Homebuyers can also get a 100% refund if they cancel the booking after lockdown.
Gurgaon based builder ASF Infrastructure is providing Double Your Booking Amount Offer, in which you can make a booking for ready-to-move 2 BHK or 3 BHK flat in ASF Isle De Royale Residences project. The booking amount of Rs X paid by you will consider as Rs 2X.
The builder Supertech Limited is also providing a double booking amount offer when you book any property of Supertech in the Lockdown.
These are the few offers, but there are much more available with customized payment plans. You can check all the offers on the Investors Clinic website or by clicking on this link www.investorsclinic.in/offers.
Also, a buyer can book a property online on Investors Clinic’s website by using the ‘Book Now’ feature. The booking amount has to be paid online via different online payment modes like UPI, Internet Banking, Debit Card, Credit Card, Mobile Wallet, etc. Therefore, buyers can safely book a property while staying at home in lockdown.
Investors Clinic is one of the leading professional real estate consultants in the industry who firstly introduced a user-friendly digital platform to safeguard its valuable clients and employee from coronavirus outbreak. More than 5000 hot properties are available on the website for investment with flexible payment plans, assured returns, and lease guarantee offers. Therefore, Investors Clinic is providing all kinds of assistance online to the property seekers.
How to Connect via Digital Platform?
In this digital world, everything is available on the internet. High traffic has been captured on the websites during lockdown because property buyers are going online to find the best property. Property buyers and broker both can connect with the various digital platforms. Accordingly, both can use formal meeting apps like Zoom, Skype, Google hangout, Google meet, etc. If a person is not able to use such apps, then you can also connect with WhatsApp, FaceTime, and Facebook video calling for a site video visit.
Both buyers and brokers can use Google Earth 3D View to examine nearby areas and neighborhoods. This makes property seekers understand all the nuances of the project site. Because a property buyer examines, nearby localities, amenities, and societies set in the vicinity. You can also check on the map about the distance from the nearest milestone, shopping malls, metro stations, local markets, and connectivity to the road network, etc. Therefore, both buyer and broker can traverse all such things over the video call.
In conclusion, we could say that several people are excited to invest in real estate during the lockdown as well. Because of good offers by many builders and cheaper home loans, property buyers cannot resist themselves to enquire about the properties. Also, thanks to technology! However, we cannot go out, though we can connect with others via various digital platforms and get the deal done.
*Offers may vary basis builders, offer time, etc.