Dream Home: Decoding all the Key Ingredients
The season finale of ‘On The REcord – Decoding Realty’ titled ‘Beginner’s Guide to a Dream Home’ aired on 25 August 2021. An expert panel shared insights on everything one needs to keep in mind before making the final decision to buy their dream home.
Highlights from the episode
● The homebuyers in today’s market are evolved; they are well informed and are cognizant of their needs.
● First-time buyers should identify their needs and aspirations. They need to select something close to the physical and social infrastructure that suits their lifestyle.
● Incentives for women homebuyers- Subsidies within the Pradhan Mantri Awas Yojana (PMAY) and lower interest rates.
● Buyers should consider the location, amenities, social and physical infrastructure, developer’s reliability before a property purchase.
● It is the developer’s responsibility to oversee and meet property regulations. However, a buyer must be aware of the key provisions within RERA and check the property’s title.
● The return on investment depends a lot on the cycle of the project and when one invests.
● Decadal interest rates and reduced stamp duties in many states make it ideal for second property investments.
● Buyers can have an architect and a structural consultant onboard to receive advice that is best suited for their residential needs.
● Smart homes have the potential to transform the space of living and unlock the next level of convenience.
● RERA has several provisions to protect the rights of the homebuyers.
● Aspiring NRI investors must thoroughly assess the ownership regulations in India and can benefit from legal consultation.
● Homebuyers should always opt for bank approved projects. These projects are vetted by banks and therefore make getting loans is easier
● Green projects and sustainability are steadily gaining traction within the Indian real estate landscape.
The present realty market is highly conducive for investments. However, with an abundance of information around property investments, it is essential to access a credible platform that provides simplified solutions to homebuyers’ queries. On The REcord – Decoding Realty was created to offer this and more to potential customers across the country. The content across all four episodes can equip them with vital insights about the industry and guidelines for finding their dream home.