Would Buying A New House Amid The COVID-19 Pandemic Prove To Be A Good Decision
                     Would Buying A New House Amid The COVID-19 Pandemic 
Prove To Be A Good Decision?
India’s real estate sector especially on the Mumbai side might have suffered a minor 
setback during the COVID-19 pandemic but now it has been seen that housing demand in 
the country is reviving. So, buying residential property for sale on SV road may not be a 
bad decision.
In India, the real estate industry is considered to be one of the main pillars of the economy 
and it's the second-highest employment generator in the country after agriculture. Besides 
this COVID-19 pandemic has also changed people's perception of homeownership 
significantly. They have come to know that living in an owned house is much safer and 
secure than the uncertainty faced in a rented home. And looking at the current situation 
government have also introduced a lot of reforms and incentives for homebuyers to 
promote housing. So now if you are in a dilemma of whether to invest or not to invest in 
residential property for sale on SV road under the present conditions, here we 
mentioned some of the things for you to consider that might help you make a decision.
Home loan interest rates at record low
Currently, the Reserve Bank of India (RBI) has reduced the repo rate to a lower level to 
ensure that home loans are less expensive for homebuyers. At present, the repo rate stands
somewhere between 4 to 7 per cent. which is one of the lowest ever.  So from this 
perspective aspiring homebuyers should not try to let go of these record-low rates, if they 
are looking to buy residential property for sale on SV road and have the necessary 
margin of money. However, before applying for a home loan you might need to check your 
credit score. Because the lowest home loan rates are offered only to those applicants with 
credit scores over 750-800. 
Property available at reasonable prices
Another good reason to buy residential property for sale on SV road in the current 
situation is that the housing units are easily available at reasonable prices.
In fact, it is probably the best of times for investors or end-users to opt for a property 
because prices are as low as they are going to get and most developers are willing to 
negotiate further. You also have a wide selection of options to choose from in almost all 
locations and budget bandwidths and can buy ready-to-move-in properties at prices that 
were previously seen only in under-construction projects.
Possibility of a price rise in the future
There may be a slowdown in the construction sector in the COVID-19 pandemic, but it can 
be assumed that no new supply will enter the market for some time. It might take a few 
months for the market to revive and the supply to pick up the pace. As demand outweighs 
supply, the ensuing quarters might witness an upward shift in terms of property prices. 
This means that if you invest in apartments on SV Road now, you might reap the benefits 
of appreciation in the near future.
Concluding Remarks 
As you have read the above article, you have come to know that it's surely an ideal time for 
you to buy or invest in property. An investment property can also help you generate steady 
rental income. In addition, if seen the pandemic has provided you enough time to research 
the areas where you want to move or what's the average selling prices for the type of home 
you are interested in purchasing. So now if you are planning to buy a smart 2 BHK 
apartment on SV road or looking for a smart 1 BHK apartment on SV road visit 
www.chandakgroup.com. They will offer you some of the best property deals in your 
budget.