21 October, 21
Putting all your eggs in one basket may cost you big bucks in case you undergo hard times. That given, the millennial and the investor community need to re-evaluate their investment options. A diversified investment portfolio with fair shares in the right financial instrument increases the chances of earnings and lowers the risks of loss. Though there is no restriction to invest in the stock market, FDs, or other saving plans, property investment can be much more beneficial than all.
It offers not only a permanent shelter but also a sense of financial security. Buyers know it well; however, unfortunately, not all end up making a prudent investment that yields sizeable returns. For those seeking ways to bank their money in safe hands, a residential property in Mumbai is something that can make each of their pennies count. Here are four reasons why property investment, especially in the financial capital of India that we call Mumbai, is a wise move to make money.
Real estate developers in Mumbai provide buyers with the advantage of buying a home against easy EMIs that do not fall heavy in the pocket. Whether a luxurious or affordable flat fits your lifestyle and budget, payment flexibility is always there to help you invest in a residential property in Mumbai. Investors do not need to pay it all at once. With as little as 10% of the total cost of the property, they can lay the foundation of a solid future that offers life-long financial security.
Value appreciation is what makes a property purchase a worthy investment. However, the rise in the property value is directly proportional to the location, neighbourhood, and infrastructure. Wise investors check for these factors to reap the appreciation benefits when buying a property. For maximum returns on investment, a home in an under-construction project in Mumbai is the right choice. It unfurls dual benefits: lower investment costs and higher price appreciation. It also comes with exciting financial plans and offers that make buying even more profitable. With a residential flat in Mumbai, you stand all chances to multiply your ROI as the property value keeps increasing with time. By the time you repay your home loan, the home prices may increase substantially or even double up in some cases.
Real estate is a great investment option as it gives buyers multiple tax benefits. The Income Tax Act (ITA) of India outlines tax reliefs for property investment under many sections. Section 80C of the ITA may deduct up to Rs.1.5 Lakhs from the total taxable income, whereas section 24 allows exemptions for interest on borrowed capital. In the latter case, deductions can be up to Rs.2 Lakh. No matter which residential project in Mumbai is your dream destination, tax relief makes your investment more beneficial and lucrative. It is another reason why buying a residential property in Mumbai is a wise investment.
When investing your hard-earned money in anything, you need to assess the prospects of gains and the risks of loss involved in it. Unlike mutual funds and equity investments, which are subject to market risk, real estate can reap buyers with hefty returns in the long run. And if Mumbai is where you are seeking property investment, you have all possibilities to earn more. As Mumbai real estate is estimated to make a giant leap in the future, a residential flat here means a lot for those looking for a safe investment. Real estate is a tangible asset that provides stability, financial security, and value appreciation benefits. So, buying it has apparent advantages in terms of fiscal benefits.