With regard to buying and selling property, India has become one of the hottest destinations amongst more than 30 emerging property markets of the world. The property sector has emerged as the most lucrative field in India, that is why not only manufacturers, producers, consultancies and finance companies are entering into this field rapidly but also plenty of foreign companies are entering into joint ventures or independently buying and developing various types of properties in India.
With the recession in the market, the residential properties in areas of Navi Mumbai are slowly becoming affordable for the middle class as the prices have come down by 10-15% and even most developers are willing to bargain for a cheaper rate.
Whether you are buying property for personal use or for investment purpose, this is the right time to buy property in India. This can be credited to several reasons such as global liquidity and credit crises and inflationary pressures within the domestic economy. Due to this Property prices have corrected by around 15-20% in 2008 and also dealers are willing to bargain and are providing different sort of incentives to the buyers. The recession has wiped up almost 50% of the value of the real estate in January compared to the peak price. Some young property investors in India are compared to sell their property at loss because they can no longer afford to pay the interest and cost associated with owning multiple properties. Another reason for reduced property rate is due to the difficulty in getting funds for the projects from the investors and also proactive measures to prevent defaults in the real estate portfolio by cutting exposure to loans against property.
This is a great time even for the foreign investor because of the government approval of 100% FDI in Indian real estate development and also because of the steady capital market.
Thus
properties in india are one of the safest places for investment. And while investing in the properties, you should always keep in mind the legal formalities to be fulfilled and also clarify the terms and conditions for possession if bought for personal purpose.
About Author
Ankita Tyagi is expert content writer on real estate and properties in india. For more details on
commercial property india and residential property India visit:- NextGenProperty.co.in