Synopsis Is the rising rate of interest for home loan bothering you? Don’t worry if you are planning to buy your space at the upcoming project in Pune: Life Canvas, Mamurdi, PCMC. Here, the interest on home loan is being borne by the developer till possession.
History of Home Loans in India
Banking in India is more than three hundred years old. Nationalised banks were formed after independence. But ‘home loan’ was instituted in India for the first time in 1978. This was followed by the commencement of floating rate concept in 2000. After this, new terms kept on adding in the dictionary of banking sector to provide ‘best of the breed’ offers for the benefit of the end user.
Lowest ROI in 2020-21:
The world was hit badly in 2020 and 2021 by Covid-19. This period also saw a slump in the repo rate leading to lowest home loan rates.
Record reduction in home loan interest rates was a big temptation for the populace to plough money in real estate market. Plus, there was the added advantage of lower stamp duty charges. This boosted the real estate economy, particularly in the last financial year.
Unexpected rise in ROI:
To everyone’s dismay, RBI has suddenly escalated the repo rate in June 2022. Consequently, the home loan rates have shooted up. The increased EMI is disturbing the commoner’s budget. Now the dilemma is whether to buy a property or not.
Trump Card:
ROI three years down the line cannot be predicted. But you are definitely saved of 0.9% increase in ROI today by buying a property in Pune at Life Canvas, Mamurdi, PCMC.
Vighnaharta group is an angel in disguise in this alert situation of rising ROI. Here, profit is not the priority. The focus is on customer-service and customer-satisfaction. The SIP scheme is designed such that the ROI will not affect you in anyway. You are required to pay only the fixed monthly amount till possession. Rest all will be taken care by the developer.
Vighnaharta group has tie-up with all major banks that offer home loans. This simply means that these banks trust the builder for timely completion of project. Simultaneously, the home loan sanction process is easier for the customer.
All in all, just one line is sufficient to sum up for the Life Canvas luxury flats in Pune-
“Everything one has ever wanted,
Everything one would ever need”
