Why Are Real Estate Investment Opportunities Booming This Diwali?

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Everyone aspires to find their dream real estate investment opportunities in Mumbai. More so, during Diwali, the city of dreams is lighted with new project launches and unmissable festive offerings. While the 140 bps repo rate hike is a cause of concern for certain homebuyers and investors, the majority still holds positive sentiments towards real estate as an asset class. Between July-September 2022 only, residential sales registered a 49% YoY growth. According to CII-Anarock Consumer Sentiment Survey – H1 2022, 59% of respondents voted for real estate above other asset classes. 

It is evident that homebuyers and investors are confident about real estate despite inflation headwinds. The sentiment is strengthened by the fact that, unlike other investments, real estate value rarely fluctuates during inflation and economic slumps. Moreover, Mumbai has consistently been ranked first in residential demand among the top 7 cities. And as customers are looking to upgrade to bigger homes, here’s why Mumbai is the best city to invest in property in India this festive season. 


New Project Launches

Diwali is one of the biggest festivals in India. It is also a goldmine of opportunities both for real estate developers and customers. During the festive season, customers are ardently searching for parking their money in their desired projects. To cater to this booming market, developers come out with new project launches. Unsurprisingly, these projects are meant to outshine the previous launches and attract buyers with global lifestyle standards. So, if you are looking to upgrade to a bigger and better lifestyle, the best time to invest is right around the corner. 


Exclusive Festive Offers

Due to the elevated benchmarks set in real estate in the last couple of years, customers only trust the most credible developers. As the market is more customer-centric now, ease of buying is one of the major factors developers consider while launching a project. Thus, with the new launches, you’d discover various subvention schemes, exclusive tax waivers, comparatively low-interest rates and other flexible payment plans. These exclusive offers are aimed at increasing the overall affordability of projects. So more families can accomplish their dream of owning a home in Mumbai. 


Greater Availability of Funds

In recent years, surveys have shown that the overall purchasing power of people in metropolitan cities like Mumbai has risen significantly. After the pandemic, hiring trends received a boost of 41% in Mumbai. Alongside, when you consider the fact that there has been an 18% increase in salary hikes and you’d get the picture. This emerging populace has been on the lookout for residential projects ever since the pandemic ended. Most of them sit over an adequate investment fund. Moreover, the festive bonus adds to their confidence. That’s why, this Diwali, housing sales are bound to rise and continue to break records. 


Auspicious Occasion

As much as we talk about the financial side of purchasing the home; savings, easy payment plans and future planning, we can never disassociate the homebuying sentiments from the whole process. Buying a home is something most Mumbaikars have waited their whole lives for. It is a big step towards new beginnings for them. Diwali—the festival of lights—is the embodiment of the arrival of new beginnings and positivity. To commemorate this once-in-a-lifetime event, homebuyers often wait for the festive season to invest in their dream home. With Diwali, the one-time event of buying a home turns into a lifetime of celebrations.

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