The festive season brings a lot of offers and thus influences the real estate market to a great extent. Property buyers, in general, think of investing during this time due to cultural influences. While the offers are attractive, it is during this time that you may get stuck in scams and fake deals. In this article, we will delve into the reasons why you should buy the property during the festive season and ways to prevent yourself from scams.
See also: Vastu Shastra tips for buying a new home during the festive season
Buyers who are willing to invest in a certain property but are unsure of the time they wait for the festive season to come. In India, it starts in October and goes on till mid-November. This period is auspicious for buying a property, and thus, a lot of real estate transactions take place during this time. Grabbing this opportunity, various developers come up with amazing deals, further increasing sales.
Why should you buy property in the festive season?
New projects
During the festive season, various developers launch completely new projects. Also, a lot of buyers choose this time to invest in properties, making this time ideal for both buyers and sellers.
Amazing offers
While keeping the auspicious time in mind, developers bring attractive offers to increase their sales. These offers may include discounts or something free. Thus, you can invest in the property during this time as you will get better deals than the rest of the year.
Low interest rates
When everyone is thinking of selling and buying, banks step into the season as well. Various banks reduce interest rates during this period, further making it a great deal to have for buyers.
Increase in income
During this time, companies give bonuses and appraisals to the employees. This can help buyers increase income, making it easier for them to invest in a property.
How to prevent yourself from festive season scams?
While the festive season is a great time for making investments, it is vital to prevent yourself from scams during the process. One way to prevent yourself in this process is to do research. Make sure to do deep research on the seller or developer before investing a penny. Check the name of the developer properly so that you can ensure its authenticity. Another way is to stay away from unrealistic deals. Furthermore, you should always buy from reputed real estate companies or sellers so that you can stay away from scams as much as possible.
FAQs
What is the cheapest season to buy a property?
Property buyers can get the cheapest deals in winter months due to less demand.
Do property prices actually increase after the festive period?
Yes, most developers increase the property prices back after the festive season.
Is it safe to invest in properties during the festive season?
It is safe to invest in properties during the festive season if you are aware of the buyer and the authenticity of the deal. Always make sure to read the terms and conditions.
Which festival is the best time to invest in property?
Diwali is the best time for Indians to invest in a property due to its cultural relevance and great deals.
What can I do in case of property fraud?
As property fraud is a criminal offence, you should file a criminal immediately with the help of the local police station.
What is the IPC for property fraud?
Section 420 in the IPC (Indian Penal Code) deals with cheating and dishonesty, including property fraud.
How to not become a victim of fraud during the festive season?
You should only deal with reputable developers and check the authenticity of deals or offers you are feeling attracted to.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
Khushi Jha, a graduate in history and political science from the University of Delhi, doesn’t restrict herself to a single domain. Her passion for writing has led her to explore a wide spectrum of topics, ranging from fashion, health and lifestyle to technology, real estate and finance. She has written for platforms like TheVoiceOfWoman, Techsunk, Fitmist and Menskool, among others. When free, she enjoys reading books, including fiction, history and geopolitics.
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