There are many auspicious seasons and dates in India in which it is said that the assets you acquire during that period will increase manifold. However, the real estate experts say that the end of the year is by far the best time to purchase a property like luxury apartments in Chennai. But what makes the year-end so special? Let’s take a detailed look at the pros of it.
Less competition:
The most obvious reason is that there is less competition. A smaller number of people are looking to buy homes now, as it is the Tamil month of Margazhi. The focus is on shopping for Christmas and New year’s and not on acquiring property. You get to pick your choice of homes with no fear of someone else booking the home you want.
Tax benefits:
It is Tax season and both the seller and buyer stand to gain significant tax benefits from the transfer of ownership. The seller gets to minimize deductions and are thus open to negotiation. They are even open to taking losses to balance their income. The buyer can also avail the deductions and other tax relief that the Government offers when they buy luxury apartments in Chennai. Thus, at the end of the year, real estate turns into a buyers market. The buyers can bargain their way to a good deal, as sellers are anxious to get rid of their inventory.
Sellers are looking to sell:
A lot of the sellers are looking to dispose of their property before the next tax cycle. Besides, it’s a season of change and they could be looking at shifting to a different city, or to a country, etc. This makes them desperate to sell the house before they leave, as they need the money. They are open to negotiation as they are time-bound.
Great deals on homes:
The year end is also the holiday season with Christmas and New Year. Developers themselves offer good deals on the rates. Some even offer additional amenities like kitchen remodelling or furnishing. The rates are lower and you can wait before you make a decision. In other cases, you will be forced to immediately book the home before someone else does. But at the end of the year, there is less competition and you can hold out until you arrive at a home you genuinely like. You also get sufficient time to inspect the home properly before making a decision.
Lifestyle Housing is a developer of premium real estate in Chennai. With luxurious 3 BHK flats for sale in Chennai, we offer incomparable rates and deals around the holiday season. Our latest project is 3 BHK flats for sale in TNagar, located right on the main road.
