5 Reasons Why it is the Perfect Time to Buy Your Dream Home

A home is not just room of 4 walls, but, it is a place where you can spend quality time with your own people at own place. Every Mumbai dweller has a dream to call the place they live in, a home.

Buying a house is a major decision and often involves making financial commitment for years to come. The time is right to make the move to buy a house and below we will tell you why!

Here are the 4 Reasons Why Affording Your Dream Realty in Mumbai Has Become a Reality!

1. Benefit from the market rates: In recent years, the real estate market has shifted its focus from luxury residences to housing that is more affordable. Builders are more conscious now of the overall price buyers need to pay and as a result, new under construction flats, like VKLAL Vishnu Phase I, are being designed to maximize the functional space and utility of each flat. The higher efficiency of flat designs allows for smaller flats to still provide the same comfort as poorly designed larger flats built in the past. These smaller, more efficient flats have allowed to price of a 1 BHK flat to remain under Rs. 60 Lakhs in certain parts of the city, like Dahisar and Borivali. With the ever growing population of Mumbai, we do not expect these beautifully designed flats to stay at these prices for very long. Every market has a golden rule: Buy low and sell high! ‘Right now’ is an opportune window to buy 1 BHK flat in Mumbai’s suburbs before prices rise even higher as they have in almost every other part of the city.

2. Secure subsidy on interest payment through PMAY: The Pradhan Mantri Awas Yojna (PMAY), takes the burden off your shoulders by giving first-time home buyers, a subsidy on home loan interest rates. The benefit is as high as a subsidy of up to 6.50% on the interest rates if you meet the LIG category of home buyers. Even if you are from a moderate-income group you will benefit with at least a 3% subsidy on interest rates. Isn’t that a motivation to start planning your home-buying move?

3. RERA Act saves you from hidden costs: The government has just made it easier for home buyers to access the information of residential real estate projects that are under construction. Due to the Real Estate (Regulation and Development) Act, 2016 (RERA), now the builder is accountable to periodically publish the data of all the approvals that should be in place and this information is openly accessible to the public. With the help of RERA, now buyers have so much more information available to them at https://maharera.mahaonline.gov.in/, and so many more protections in case something does go wrong during development, that buying a home in Mumbai is much easier and much less risky than it was in the past.

4. Infrastructural development: The Western Suburbs of Mumbai already have great connectivity to Central and South Mumbai through the Railway and Western Express Highway. In addition, the under construction MMRDA metro will provide even better and faster access to the entire city, especially from suburbs like Boirvali and Dahisar. Since the metro is under construction, these suburban areas have not seen as large of a price
increase as we expect they will see in the near future once the metro is completed. Now is a great time to purchase a flat in Dahisar or Borivali because both areas already have connectivity to the rest of Mumbai and that connectivity is only going to get better and better, making these areas more desirable and more in demand, which will push prices higher and
higher. Why continue living in a compromised house when you can ‘own’ your home in a reliably constructed, secure, hygienic and spacious property? Move out from a rented or one-room row house and buy your own flat in Mumbai, without burning a hole in your pocket. Learn more about the affordable, beautifully designed 1 BHK flats VKL Construction is currently building in Dahisar and Borivali by checking out their website, www.vkalco.com/dahsiar.