Tier 2 cities need to investigate thoroughly before investing in real estate
Most of the middle class people save all their lives to invest in their dream home. For most it is the utmost security. With rising economy and availability of jobs in MNCs, the salaries have seen an upward trend in the last decade. With the emergence of IT and ITES in India, double income families have better corpus to invest in properties.
Before buying a property one should do some groundwork on the pricing movement. It is never advisable to invest in a highly volatile market as the prices may slump in the coming years and your property may not appreciate as expected. The location, the size of the project, the branding, the developer involved, the amenities provided in the project, loan facilities from the leading banks and financial institutes, transportation, future prospects such as development of IT corridor, airport, metro connectivity in the future are the key aspects which are considered while zeroing in on a property.
The national housing bank’s Residex is a useful tool which will keep you abreast about the developments in the area and how prices have been shaping up. National Housing Bank Residex shows rising trend of residential stock in 16 urban centers across states. The middle income group, especially in the Tier II cities still believe in making that life time investment in a property and believe in passing it on to their next generation.
Source- Financial Chronicle
Before buying a property do some groundwork on the pricing movement, investing in real estate, National Housing Bank, National Housing Bank (NHB), Tier 2 cities to investigate before investing in real estate, Tier II cities still believe in making that life time investment in a property, Tier II cities uphold belief realty always appreciates
