Akshaya Tritiya 2019: Why this is the best time to invest in ready to move in flats

Akshaya Tritiya 2019: The country is celebrating Akshaya Tritiya on May 7 and once again, gold sales are likely to shoot up. The yellow metal has been the most sought after investment option in India for years and Akshaya Tritiya is considered to be an auspicious occasion to buy it. But, there are other investment options that can be considered too. And, this year, ready to move in flats seem to be a good alternative with many developers trying to attract the customers by giving exclusive offers and flexible payment plans across their projects.

Manju Yagnik, Vice Chairperson, Nahar Group & Vice President NAREDCO (Maharashtra) told Zee Business Online that the lowering of repo rate, combined with a considerable cut in GST to 5% and 1% for under construction and affordable houses respectively, also makes this the ideal time to purchase home. 

"On the occasion of Akshaya Tritiya buyers tend to make purchase decisions for a blissful lifestyle experience. During this time, the developers aim at providing monetary compensation to the buyers by giving exclusive offers and flexible payment plans across their projects that results in immediate cash flow aiding the economic growth. So, not only is it economical for the buyers but also for clearing unsold inventories during this auspicious occasion. It is highly beneficial for the home buyers to invest in ready to move in flats at this time of the year because the prices are currently stable and the market is positive due to the lowering of the repo rate followed by a considerable cut in GST to 5% and 1% for under construction and affordable houses respectively," she said. 

Yagnik believes that the real estate market will witness stable growth in the coming years, making home purchase a good long term investment. 

"Alongside this, the real estate market will see a stable growth because of some of the key reforms like increased carpet area, creation of National Urban Housing Fund, SEBI’s approval to foreign institutional investors under REIT. As per the current market scenario, it is a wise choice to buy your dream home this Akshaya Tritiya for a secure, long term profitable investment," she said. 

Many real estate developers have come up with multiple offers like flexible payment options, saving on GST, rent and earn option, no floor rise charges, among others during this Akshaya Tritiya. Some developers are even offering spin and win prizes like iPhone Xs, Samsung 55’ LED TV, a family trip to Bali, etc.