The last couple of weeks have been particularly touchy for those who invest in the stock market. We saw an uncomfortably large level of volatility in our market, reacting mostly to global cues.
The important thing to know about our stock market right now is that the outlook for our market over the next couple of quarters is likely to remain volatile. Now, you might be wondering why I’m bringing up the stock market to you as homebuyers. There is a reason why we need to think about the stock market as homebuyers. It is common knowledge that money tends to flow from the stock market into the real estate sector especially through HNI and ultra HNI investors. When these investors make profits in the stock market they tend to book those profits and use the money to invest in real estate, that way converting a financial asset into a physical asset.When the market is weak as it is now, these investors do not have as much liquidity as they would have planned for and might be required to stay invested in the stock market for longer to recover lost ground.
This would have a profound impact on the cash flows coming in to our already stressed real estate sector. The other large impact is that of sentiment. When the stock market is weak or volatile, the sentiment among buyers tends to be weak as well, it will take longer for confidence to return to the job market and hence will impact of sales of real estate even further. While all this might be bad news for most real estate developers and investors, it is good news for you as a homebuyer if you are looking to buy a home that you will live in with your family. The more pressure that is added to the market, the better are your chances of getting a great deal on your home.Remember, if you are looking to make an investment in the real estate market, it might be a long wait before you see strong returns again, but for those of us looking to buy a home as end-users the opportunity couldn’t be better. If you have your home loan preapproved and ready to be disbursed and you have your down payment ready, there has never been a better time to drive a hard bargain.Today, you could demand a waiver of parking fees, club house and maintenance, floors rise and in some cases even as the builder to bare all the changes of stamp duty and registration. In most cases developers will be open to negotiation. Just remember the basic guidelines for this market.
The developer’s reputation and track record is the most important criterion for selection in this market. Spend most of your time and energy ensuring that you have picked a builder with the ability to deliver quality on time.
Pick a project that is either ready to occupy or as close to possession as possible. The close to possession the few the risks of delays on delivery.
Make sure your developer has all the permissions he needs to build. Be a touch customer and ask as many questions as you need to in order to be convinced. Ask about the finances of the project, the partners both in construction and funding, the land titles and the permissions.
It takes at least 6 -8 months to find the right home and close the deal. Do not wait any longer. Start your search today.
Source: TOI dated 30th January 2016
Jaypee Greens Greater Noida Star Court and Moon Court having a opportunity to buy Ready to Move in apartment and No EMI till two years.