With the growing awareness about the lucrative nature of residential plots, the real estate investors have seemingly become more keen on putting a residential plot in Kolkata. However, a vast majority of them have been bogged down by a most typical concern – What is the best time to buy residential plots in Kolkata?
If that describes you, this blog is just for you. Let us take a close look at the various factors that influence property prices to help you determine the most opportune time to make your investment.
Wondering What is the Best Time to Buy a Residential Plot in Kolkata?
There is no one-size-fits-all answer to determining the best time to buy a residential plot in Kolkata. However, considering a few cardinal factors can help us find the most conducive time.
Your Financial Readiness
Your financial readiness is the primary determinant of the right time to invest in a residential property. If you have a clear budget, saved up enough funds, and have a steady income, that might very well be the best time for you to make your move.
However, do not plunge yourself into bulgy debt and severe financial distress to buy the investment property.
Remember, it’s a long-term and tangible investment; everything in the world can wait until you get yourself financially right.
The Market Trends
One of the most important aspects to consider when investing in a residential plot in Kolkata is the on-going highs and lows in the real estate market. Keep a tab on price fluctuations, upcoming infrastructure developments, and new government policies. It will give you insight into the best time to purchase a plot.
For instance, if development of a new metro line or a humongous shopping mall is sanctioned near your desired location, it could lead to a spike in property prices in the near future. In such cases, it is wise to invest while prices are still relatively lower.
Is it that Time of the Year?
In India, the festive season is believed to bring good luck and is considered an auspicious time for making significant investments such as property purchases. It is also the time when developers and property sellers roll out attractive offers and discounts to entice buyers.
So, check your calendar and see whether there are any festive occasions like Diwali, Durga Puja, and Navratri around the time you are planning to buy the property. If yes, there are high chances you can encounter special promotions and offers and save a significant cost on investment.
The Interest Rates
Keeping track of interest rates on land loans is essential for ensuring the best investment return. If you plan to finance your residential plot in Kolkata purchase with a loan, consider making your investment move when interest rates are low. This will not only help reduce your overall cost but will also make your investment more affordable. The current interest rates vary between 8.65% to 13.4% on an average, depending on the lender you choose.
The Best Time to buy a Residential Plot in Kolkata is NOW!
Kolkata is undergoing a rapid infrastructural development, and there are a lot of government development projects in the pipeline which can further lead to a potential rise in the property values in the years to come. Plus, there is a notable scarcity of land in a dense metropolitan city like Kollata. So, seize the chance at the moment and make the most out of your investment in the near future.
The investment opportunity becomes even more inviting with lucrative financing offers made by reputed developers Ike Swapnabhumi Newtown.
With our sought-after township project which stretches across 500+ acres, we offer top-of-the-line residential plots to our investors with a full range of excellent amenities. The best part is we offer the best-in-class no-cost EMI plans to help you finance your dream investment. All you need to do is pay only part of the amount at the time of agreement.