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Karnataka, India

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Monsoon is good season for Investment in Real estate

By - Vasanth

In an agriculture-dominated economy like India, the realty sector is generally witness less transactions on account of several factors. After spending money during summer, the middle class and upper class look down for investing heavy amount during the monsoon. Moreover Ashada - inauspicious days - discourage families from buying properties and new goods. The monsoon is normally a dull period for the real estate industry and house hunting during the rains could bag you a good deal. In Monsoon, Sale or booking of flat falls and real estate builders in India could be facing a liquidity crunch too, so the developers readily gives out discounts. The real estate builders or developers have no option but to give discounts to sell. Banks and financial institutes come up with monsoon special offers on home loans. During the rainy season, developers usually find it difficult to push sales and many people postpone buying a house during these months. Developers finally start offering discounts on properties. The quantum of discount varies for different cities, depending on how badly it is affected by the monsoon. Most buyers prefer to keep away from investments during monsoon because of religious belief in 'Ashada'. There is lesser number of site visits by prospective buyers and demand for property buying also goes down. The developers have no option but to give discounts. Get Best Deal But buyers can turn this monsoon season as an opportunity to get flats or sites at lesser prices. To get a best deal for your real estate investment in Monsoon, bargain for lower rates with your builder or developer. Locality Buying property in monsoon can help you to find right property and good location. It will give you an idea about problems regarding water logging and traffic or time consuming to commute in that locality during monsoon. Such a search becomes especially important if you have moved to a new city and are not familiar with the locality and the geographical problems.