Two months after the decision to demonetise currency, the debate is still on about the effectiveness of the decision taken by our Prime Minister Mr. Narendra Modi. Amongst all the citizens of the country, 91% supported the move and 92% rated the move good and effective. Remonetise India is an initiative by TIMES NETWORK, which calls each and every citizen to make a difference. It is now time for us to participate in the movement and access to digital payments to make the cash available where it is really needed. So now this movement has a huge impact on non BJP states like Bihar and Bengal the response of this movement is huge.The real estate will be impacted by the new movement. Previously people were scared to invest in properties to face the risks like delay and fraudulent nature of builders. But with the new RERA bill people are more likely to indulge themselves in investment. Many policies have been introduced to help the consumers. As a result C grade builders will be wiped out from the market which will enhance the real estate sector. In a hangout session with Mr Praveen Agarwal,CEO of Rajwada group, he suggested that this is the best time to buy functional and durable properties as the offerings are more than the demand. He also added to remember the crucial things before investing in any property.
1.To check the past reputation of the builders.
2.Paper should always be checked through a legal firm by legal advisors.
3.Get the agreement drafted properly.
4.To see whether it’s a wetland or not.
By keeping these few points on your mind can help you in the time of investment. Right now real estate is a safe investment option because the interest rates are low and the property prices are lowest. The margins of prices have come down 10-12%. Least properties at lower rates which have a potential to have a higher value in the next 2-3 years are recommendable for investment purpose. And you are not required to pay the capital gain taxes if you sell the property within 3years. High end properties are not appreciated for investment for next three years. With the new policies introduced the real estate market is developing in a good way as a result genuine builders will come in and people will invest more, which can be seen as a positive sign. It is the right time for lower income group and middle income group to invest in properties. The Government of Bengal holds Bengal Summit every year trying to pull new investors. With the development of industries and IT sectors we expect an evolution in the economy of Bengal. We are the soldiers of our new economy. Be the change you want to see and bring India’s economy back on track. Make good investment decisions which will lead to an economic upliftment of India.