Akshaya Tritiya & Real Estate - The Kinship
“Faith is not belief without proof, but trust without reservation” - D Elton Trueblood
What a beautiful quote to delve into on such a beautiful day. Yes, it’s Akshaya Tritiya today- a day which is believed to usher in unending prosperity.
We live our lives based
on the some deep seated beliefs. Although
each day has its own beauty, meaning & importance in our lives, Akshaya
Tritiya is considered to be extremely auspicious. The word ‘Akshaya’ in Sanskrit
means immortal, something that never diminishes and remains forever. Hence, many of us try to schedule most important
events of our lives on this day. It is also regarded
as a tremendously auspicious day to create wealth.
Akshaya Tritiya & Real Estate
Buying a property is an extremely important event for most of us.
You may be buying a property–
- as your first house for Self accommodation, or
- to upgrade lifestyle to a bigger & better place, or
- as an investment for medium-to-long term, or
- for creating wealth for your next generation.
Irrespective
of the objective of purchase, it is a significant event for us & our families
given our sentiments attached to it and our
hard earned money that is put on the table for this purchase. Hence, most of us look for auspicious days like Akshaya Tritiya to time the purchase. It is
believed that the
property that is purchased on this day continues to flourish and brings a lot
of prosperity and good luck to the
family.
Every year,
real estate market sees an uptick in activities around this day of the year. Developers
also come up with attractive offers & discounts to further lure home buyers.
This Year…..
This year, Akshaya Tritiya has come amidst a global
pandemic, a nation-wide lockdown due to COVID-19. Not the best start to the
year definitely & real estate investment seems to be on the backburner for
most of the buyers and investors.
To read my recent article talking about few important
factors in favour of real estate investment in the current scenario, go to my
blog or click on Are You Out-Of-Your-Mind If You Have Property-In-Mind
To further augment the points already mentioned, I
would like you to zoom out of the current situation and ponder on the following-
- Real Estate has always been a lucrative investment over long-term
- Historically, it has been less volatile compared to other investment assets
- It comes with structured tax benefits
- It has ample financing options
- Although it is not a very liquid asset, one can easily avail mortgage or top-up loan on a good property to meet any short-term liquidity needs
- It can be a good source of generating a steady stream of passive income (rent)
- With regulatory changes (esp. RERA), the industry is becoming more structured & buyer’s protection is in place
Let this auspicious day
mark the beginning of your journey towards a Wealthier You.
And a beginning of our
relation too. In the current lockdown, we can assist you in analyzing your
property requirements so that you are able to take your first step towards this
journey. Call us or Write to us for a FREE PROPERTY CONSULTANCY.
Stay Indoors. Stay Safe. Always
remember – Tough times don’t last. Tough people do.
Neha Agrawal -
Co-Founder, OPENMINDS
nehaagrawal@openminds.co.in
| +91 9820402693 | www.openminds.co.in
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In the ongoing
period of lockdown, slowdown in economic activities, plummeting economic growth and weakening sentiments would you be considered
out-of-your-mind if you have Property-in-your-Mind?
Not really☺
Come to think of
it, future has always
been anyone’s guess. There are always unknown variables, unforeseen
twists & turns & numerous known exogenous factors totally out of our hand.
We are surely going through challenging times, but with adequate precaution, care
& discipline, this too shall pass.
Someone said that sometimes there is nothing you can do but
let it rain & wait for the sunshine. But remember, that’s only sometimes.
Most of the time, you can either wear a raincoat to step out or enjoy the
moment by devouring some pakodas with ginger tea☺. Whether the current situation falls in the
category of ‘sometimes’ or ‘most of the time’ is more to do with our
perception, thoughts & response to the external stimuli.
Although, at present, we may be surrounded by various
uncertainties (job prospects, salary increments, profit growth, etc. etc.), but in the midst of all
these, let's look for the silver lining......
TIME…the LUXURY
of ample TIME…. isn’t it ? lots & lots of QUALITY TIME to..…
...spend with
family (do daily chores together, have meals together, play board games
together, exercise together. Basically create memories together☺)
...pen down
your & your family’s property investment goals (discuss your family’s near-to-medium-term
housing requirements, real estate investment plans, building a source of regular
rental income, etc.)
...make plan
to achieve the goals (financial planning, market research)
George Bernard Shaw once said, “Few people think more than two or three times a year. I have made an international reputation for myself by thinking once or twice a week.”
So
true,isn’t it? So, let’s put on our
THINKING HATS ☺
Try it. It may just
give a sense of purpose to the entire family during this lockdown & this
convergence of focused positive energy of all the family members may lead to
unimaginable results.
Few more important
factors worth considering -
- Cost of funding is very low currently
- Banks/Financial Institutions would be looking for business opportunities
- Higher Probability of getting attractively priced deals (demand is low & sentiments are not too sanguine. You may be able to negotiate favorable terms with Builders/Property owners. Remember the age old adage- Buy when others are selling & sell when others are buying!)
- Due to lockdown, project completions will surely get delayed, implying that you would get more time to make the full payment for an under-construction project (a further staggered payment schedule)
- Real Estate, as an asset class, has always proven its mettle over long term.
“Real estate will prove to be the perfect asset class in terms of both, regular income as also capital value appreciation,” says Hiranandani, President of ASSOCHAM and Co-Founder and Managing Director, Hiranandani Group.
With no price appreciation
over the last 3-4 years (impacted by RERA, GST, demonetization, etc), real estate
has already seen enough time correction. If the economy bounces from the
ongoing pandemic quicker-than-anticipated, then real estate sector should also
see a surge in demand. If this happens, then do not miss the bus. Be prepared.
If I have been able
to convince you enough to sit with your family & discuss about your property requirements/ investment plans,
then do the following-
Or....Just Write to us or Call us for
FREE PROPERTY CONSULTANCY
It has been
rightly said that the two most powerful warriors are Patience
& Time (Leo Tolstoy, War & Peace). So, be patient & make
best use of the available time to gradually move towards your near-to-medium-to-long-term
property goals.
Stay Indoors. Stay Safe. Always remember
- Difficult roads often lead to beautiful destinations.
Neha Agrawal - Co-Founder, OPENMINDS
nehaagrawal@openminds.co.in | +91 9820402693 | www.openminds.co.in
FB- https://www.facebook.com/www.openminds.co.in
Instagram - https://www.instagram.com/openmindsrealestateconsultant
nehaagrawal@openminds.co.in | +91 9820402693 | www.openminds.co.in
FB- https://www.facebook.com/www.openminds.co.in
Instagram - https://www.instagram.com/openmindsrealestateconsultant
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