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Indian Real Estate -The Best Time to Invest is NOW!

Buy Your Dream Home Today.

Buying a home is an essential life goal for many in India, providing social security and financial stability. Over the past couple of years, Indian Real Estate has seen an upswing trend. Many people have started looking for better homes and bigger living spaces due to the work-from-home culture and online education, especially in urban areas.

An Urban cityscape depicting the spread of Indian Real Estate

An Urban Landscape in India Photograph: Unsplash

If you have been waiting for lower prices or discount offers from real estate developers to buy a house, this is the time to change your strategy. India’s real estate market has seen an upswing in the last few years. Property prices have increased due to increased demand and supply constraints.

With the Indian government taking steps to make home-buying easier and more affordable, even first-time homebuyers with a lower budget can buy a house. You can choose from the many options available. You can invest in a brand-new house or renovate an older home.

If you are looking at a resale property, you will need to inspect the house for damages or issues. If you are thinking about renovating, you will need to find out how much it will cost. In all cases, you will hire a lawyer to make and sign contracts for both parties.

A trusted real estate brokerage, such as Save Max, can help you find the right property with the least hassle.

6 Tips to Help You Find the Right Home

In this article, we are listing some tips that will help homebuyers invest safely in a property. However, you must do your in-depth research, well in advance too.

1.    Calculate Your Budget

Depending on your annual income, available cash, average monthly expenses, and investment goals, you will need to figure out a budget for your new house. You should make an adequate balance between savings and debt while deciding to buy a home.

Children’s education costs, healthcare, any existing loans, etc., are some of the things which should be considered while calculating the budget for your new home. Also, the purchase price of the property is always more than the seller’s quoted price. The additional charges include Goods and Services Tax (GST) charges, stamp duty charges, and registration fees.

Many first-time homebuyers pay most of the purchase price by disposing of other investments. However, a golden rule when you are thinking of a substantial investment is to “Never exhaust all your savings.” Property investments have low liquidity and you should ensure that you always have adequate liquidity to manage adverse situations.

2.     Choose a Trustworthy Builder

Trust plays a vital role in the Indian real estate market, especially because buying a home is a big-ticket purchase. You should put in your money only on a property backed by trustworthy names.

In addition, a dependable property developer helps you get a good mortgage, making the loan process easier. Builders and their past projects should be verified and cross-checked by you or a trusted agency. To save time, you can choose properties that have been verified by a reliable real estate agency.

3.     Choose the Project and Location Wisely

When it comes to choosing your home, consider what you need most – space or location? Buying a home in a good neighbourhood is a wise investment and can be a wise choice. However, you need to pay a premium price for well-known or prime localities. It is always a clever idea to invest in a developing area. In all cases, you should be aware of the resale home value so that you can make decisions on price.

You will need to make the best choice, which fits both your demands and budget. While buying a home, check how far is the nearest market, railway station, airport, etc. If you have children, then you should consider the proximity of schools, playgrounds, parks, etc.

You should always insist that the project has all the necessary approvals and clearance certificates from the Electricity Board, Water and Sewage Board, etc. The building should be constructed as per the sanctioned plans.

4.     Consider the Amenities

Many residential projects offer amenities like a clubhouse, park, gym, swimming pool, etc. Choosing any of these options could affect the value of your home budget as the operational costs have to be borne by you. So, think carefully before you opt for these projects.

On the other hand, some essential amenities which you should be looking for are parking spaces, backup electricity supply, 24×7 water supply, elevators, etc.

The specifications of the materials used in the sample flat should be the same as the one being sold to you.

5.     Home Loan Financing

Finding a good financial organisation that will approve a home loan can be a long and tiring process. Spend some time to find a mortgage with the best interest rates, affordable processing fees, pre-closure charges, etc. You can apply for home loans online after doing a comparison of different packages.

An Indian Man Looking at HIs Laptop.

An Indian Man Looking at His Laptop Photograph: Envato Elements

Before this, you need to know the loan amount for which you are eligible. In the Indian Real Estate Industry, loan eligibility is based on the property value and your income. The lender will calculate your eligibility based on your net earnings. Additionally, loan eligibility is restricted to the market value of the property, as per the Reserve Bank of India (RBI) norms.

Other crucial factors to review while appraising a loan are the credit score, business profile, age of the customer, age and type of the property, etc. Every one of them is highly significant and may be a decisive factor for your loan. Normally a credit score above 700 is excellent. If your credit score is low, with a default attached to your credit history, lenders do not approve the loan. Likewise, if you are aged below 21 or higher than 60, you will find it difficult to get a loan.

These are the universal factors and provide an estimate of how a lender decides on loan eligibility. There are several other grounds that a lender may consider, depending on the loan amount.

6.     Government Subsidies and Tax Benefits in the Indian Real Estate

Quite a few investors do not investigate Government Subsidies and Tax Benefits that can be applied. For instance, the Pradhan Mantri Awas Yojana offers an interest subsidy ranging from 3% to 6.5% to people with an annual income up to INR 18 lakh, on the purchase of their first residential property.

Women homeowners get a subsidy on stamp duty benefits. This subsidy amount is directly adjusted from the outstanding loan once it is approved.

Additionally, there are substantial tax benefits if you take a home loan. You can get benefits of up to INR 1.5 lakh for the principal repayment of the loan, under Section 80C. Under Section 24, you can claim a deduction of INR 2 lakh on home loan interest, and you can claim an additional deduction of INR 1.5 lakh over and above the INR 2 lakh on your home loan interest, under Section 80EEA.


You now know all that you need to start looking for your own home. The next question is when do you invest? The right time to invest in real estate is NOW. Once the ready-to-move-in properties are all sold, there will be a steep increase in prices. With rising demand for housing, new projects and real estate will be available only at a substantially greater expense.

Save Max is a leading Prop Tech company, backed by best-in-industry expertise and the latest digital techniques. We have exclusive tie-ups with the leading developers in the Indian Real Estate market and can offer the best deals on their select properties. Our clients are assured of transparent, no-hassle real estate experiences.

With construction costs going up by INR 400-500 per square foot in the Indian Real Estate Market, and the hike in fuel prices, new properties will cost significantly higher. In fact, CREDAI says that developers will be forced to raise prices as soon as next month.

So, what does that mean for you? If you are on the fence about buying a home, it’s time to get down to actual investing. At Save Max, we recommend that you start the home-buying process as soon as possible before housing prices hit the roof. Just fill in the contact details below and we shall get in touch with you.

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