Akshay Tritiya, is a festival that symbolises prosperity, is celebrated on the third day of the first half of the month of Vaishakha. It is also believed to be 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 down on why buying a property makes for the best choice this Akshay Tritiya.
Property prices
Demonetisation, RERA, introduction of GST and the insolvency code have impacted home sales and made it more transparent. The property rates have fallen down and are currently at their lowest point, but experts believe that the prices are bound to increase steadily.
Income
Real estate can generate steady income, in the form of rent as compared to any other asset class.
Tax benefit
Investing in property has several income tax benefits as compared to gold which attracts a capital gain tax.
Interest rates
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.
Stability
Gold, shares and other similar investment assets, are more volatile in terms of their market prices in comparison to realty.
Offers
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.
Inventory
India's real estate developers are sitting on nearly 0.5 million units of unsold inventory in major cities. Not only does this give buyer an opportunity 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.