Akshay Tritiya is a festival that symbolises prosperity and is celebrated on the third day of the first half of the month of Vaishakha. It is also considered one of the most auspicious days for investing. The question is what to invest in, gold or real estate?
We will give you a simple list of why buying a property makes for the best choice this Akshay Tritiya.
Demonetisation, RERA, the introduction of GST and the insolvency code have impacted home sales and made them more transparent. The property rates have fallen and are currently at their lowest point, but experts believe prices are bound to increase steadily.
Real estate can generate steady income, in the form of rent as compared to any other asset class.
Investing in property has several income tax benefits compared to gold, attracting a capital gain tax.
The State Bank of India recently hiked the base rate and the Benchmark Prime Lending Rate (BPLR) by five basis points each, following which, HDFC Bank raised its retail prime lending rates by 20 Basis Points. These changes indicate a great possibility of interest rates going high. Higher the home loan rate, properties will become costlier.
Gold, shares and other similar investment assets are more volatile in terms of their market prices in comparison to realty.
A large number of developers offer GST waivers, free stamp duty and registration charges along with many other schemes on this day for buying a house. Thus offering a good deal.
India's real estate developers are sitting on nearly 0.5 million units of unsold inventory in major cities. This not only allows buyers to pick from a large collection but also, a chance to pick ready-to-move-in units at comparatively affordable prices.
Dwello recommends you to buy a house over gold or any other asset class this Akshay Tritiya.