Someone has asked our property consultants the question. So, besides being posting it in our forum. We are posting it in article section since we believe it is a very crucially important question. So, read on and if you have any query, shy not asking us for a comment.
The real estate trend was in southward during 2011 -2013 due to stiff competition, uninspiring development efforts from developers, strict laws and high-interest rates on loans.
This has led to the low sale of affordable and mid-segment housing projects because consumers were uninterested in buying low yield homes at a time when laws were not too friendly. But one segment that rose at that time and even doing well is a luxury segment.
Why has luxury homes been in trend than affordable homes
A range of factors played a crucially vital role in helping ultra luxurious homes receive attention from consumers. Some of the important reasons are mentioned below –
- Falling price of rupees
- Increase in net worth of individuals
- The interest of NRIs in purchasing ultra value apartment
- The readiness of consumers to mobilize their unused inventories and investing in real estate
But before you stoop to buy an ultra-value home, consider the following aspects because investing in an apartment in Delhi or purchasing an extravagant home in Delhi or in any other cities require you to spend cash which is far exceeding affordable homes.
- Ensure you know in written the carpet, super built up and built up
- Learn if the property is legally safe. If required, visit local municipal board to confirm
- Compare the features – a luxury home provide interesting in-house facilities
- Compare the built-up features
- It is important that you buy apartments from a trusted developer.
To keep on learning about a property, finance, and homes, you can visit www.propknack.com