Delhi, a city of fascinating history, charm, and chaos, blends the rich Indian culture and modernity at once. Though for some reason, people love to hate this city, it doesn’t change the fact that it is one of the best places to buy a house in.
Are you planning to invest in a residential property? Read on to know why the heart of India makes for one of the lucrative options.
1. Value appreciating venture
Over the past few years, there has been a downfall in the real estate business. However, according to multiple surveys, this sector is going to have an economy of $1 trillion by 2030. The value of residential properties in all likelihood will be increased in Delhi. Therefore, buying a house here makes sense for it is a value appreciating investment. If you are looking for funding, a home loan can be the right approach for you.
2. Favourable government schemes
To assist Delhiites financially, the Delhi Development Authority offers a plethora of beneficial schemes. For example, the Mukhyamantri Awas Yojana caters to the people from the lower-income group and middle-income group, on the provision of valid documents. Moreover, the Ministry of Housing and Urban Affairs offers the House Building Advance [HBA] scheme to government employees based on certain criteria. If you do not qualify for both, you can opt for a housing loan and fund your dream house in Delhi.
3. Ease-of-Connectivity
Being the heart of India, Delhi is well-connected to every other part of the country and also globally. Moreover, the development of intercity communication via metro routes, buses, and autos are mention-worthy. All you need to do is to find the right location in Delhi to enjoy such benefits.
4. Quality education
Home to multiple educational institutes of great repute, Delhi is the ultimate educational hub. You have a strong reason to buy a home here if you want to see your kids graduating from the best educational institutions.
5. Multiple Job Opportunities
Despite the slowdown in the economy, the capital never fails to disappoint its people. Delhi, including the NCR, over a period, has created a plethora of job opportunities for people from every walk of life. Be it creative or technical, the place offers jobs to have a steady life. Hence, buying a home for the foreseeable future is a smart choice.
Opting for a home loan
A home loan offers several benefits, an important one being the tax benefit. With such a loan, you can get a tax deduction under Section 24 of the Income Tax Act and thus, reduce your taxable income.
A Housing loan offered by financial institutions like Tata Capital Loan seems to be a feasible option. With an easy application and post-verification of documents, the money will be disbursed to you within a reasonable period of time. Moreover, with flexible EMI schedules, you can repay the money at your own convenience.