Buying A Property on Akshaya Tritiya Day
Don’t judge only by the actual site of the residence, or the cost of the property. Property rates are not decided on the basis of land value – it is the surrounding infrastructure that adds to the value of a location.
The positive sentiment associated with festivals often motivates fence-sitting buyers to take the plunge where they would otherwise have procrastinated further. The property market in many locations sees increased activity during festivals like Akshaya Tritiya, which are believed to be auspicious for the creation of wealth and good fortune. There is bound to be a slew of special offers for property buyers during this period.
Significance and Importance of Akshaya Tritiya in Real Estate:
Significance of Akshaya Tritiya: Real estate is a significant investment for anyone, and it should not be diluted by mundane retail considerations. The residential market in most of our larger cities currently offers some excellent options for serious home buyers who are willing to do their homework , and the Akshaya Tritiya date could be the best time to take the plunge if the selected property stands up to scrutiny from all investment angles.
Don’t judge only by the actual site of the residence, or the cost of the property. The presence of a lot of vacant, neglected lots, unused shops with ‘for sale’ signs on shutters, evidence of inefficient garbage disposal and other signs of decay are definite alarm signs. They could mean that the locality is on the decline, maybe having seen prosperity in the past that is now history. A steady and balanced neighbourhood can be judged, to a certain extent , by the uniformity of the surrounding buildings.
If roads are poorly maintained, this would mean that the locality is not considered very important by the municipal authorities. If this is the case, you should not be surprised if the area also suffers from water shortage, frequent electricity supply interruptions and an overdose of religious or political ‘morchas’.
Look for availability of shopping and grocery outlets, basic entertainment and transport facilities, schools, medical establishments, friendly people next door, and so on. The availability of schools in the neighbourhood is still important from the resale value point of view. This applies to most other conveniences like public transport, postal facilities, etc.
Property rates are not decided on the basis of land value – it is the surrounding infrastructure that adds to the value of a location. If you have chosen your location well and are in a progressive and developing neighbourhood , your home will appreciate in value over the years only because of the overall conveniences it will provide to future buyers.
This is where the true value of a home lies, and if you plan to buy one this Akshaya Tritiya, do keep that in mind.
In 2011, the date of Akshaya Tritiya is May 6, 2011. The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same, diamond and other precious stones and the real estate investment or buying a property.
Source: Economictimes
Read more on Akshaya Tritiya, Akshaya Tritiya Akha Teej in Mumbai, Akshaya Tritiya Impact on Indian Realty Market
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