Surat is one of the fastest growing cities in India. The opportunities, the businesses, and the food here are all worth living here. The nature of the people of Surat is considered to be the coolest. The population of Surat has been growing and so has the real estate investment. More and more people are opting for 2 BHK flats in Surat, while many are opting for luxury houses.
The work-from-home culture was developed during the covid times, and that led people to buy bigger and more luxurious houses where they can have a separate room for their work as well as rooms for their personal time.
The increased Sales of Luxurious New Properties in Surat
As mentioned earlier, the demand for luxurious 3 BHK apartments has increased in the past couple of years. And the real estate industry in India has been capable of serving the demand successfully. However, let’s look at some of the reasons why the demand for luxurious property has increased.
The Need for Larger Homes
As mentioned earlier, because of covid-19 most people worked from home and even the kids were homeschooled too. Covid lasted for more than 2 years and left its effect on people and the environment, but the people of India coped with it toughly. However, due to covid, many people discovered the work-from-home lifestyle and like it more than their work-from-office one. This drastic change of habits created the need for a bigger home.
People working from home mostly need a separate space for their work and of course a personal space(rooms) for their personal lives in the same home. Thus, the demand for luxury new flats in Surat increased.
Also, due to covid people had nowhere to go and nowhere to spend their money except for the needs provided. There are huge savings and cash reserves. Thus, many people are now looking forward to investing their savings in luxurious and premium properties.
Low Interest Rates for Home Loans
If the home buyers have enough margin money, The lending rates are very impressive, at 15 record year low. Home loan interest rates have dropped down to 7% levels due to cheaper credit availability.
An rs.50 lakh loan for 20 years would have cost you 8-9% interest rate -p.a. just a couple of years ago. But now the same loan would cost you sub-7% p.a. resulting in your savings of over 11 lakhs in total interest payable.
This may also mean that you can opt for a bigger home, which you couldn’t afford earlier due to higher interest rates.
Better Deals
In order to serve a huge demand for luxury projects, the real estate industry created more supply than demand, which pushes the top builders in Surat to launch new schemes, offers, discounts, finance schemes, and freebies while selling their projects. These kinds of deals and offers are only available during festivals and special occasions. Thus, this has made home-buyers more attracted to invest in residential property in Surat.
Many Projects may not offer discounts, but they come with luxurious amenities provided by their luxurious apartments in Surat, which is also a highly attractive selling point in real estate in Surat.
To Conclude;
Luxurious 3 Bhk and 4 BHk flats in Surat offered by known top real estate developers like Sangini Group are worth buying despite the benefits. They offer luxurious apartments in Surat with premium amenities. Real estate has been considered a way of investment anyway. But looking at the situation of the real estate industry in India, this is the golden time to invest. If you are planning to invest now, then check out the ready-to-move and upcoming projects of Sangini Group and take the plunge now.
FAQs
1. Did work-home culture affect your home-buying choice?
Ans. Yes, certainly. Many people who are now working from home, need a dedicated space to work. It is vital to have a separate room that you can turn into your office and work from there with a focused mind. Thus, many home buyers who work from home are now opting for bigger houses. And that is one of the reasons why the demand for 3 BHK apartments in Surat has increased.
2. Should I buy a 3 BHK apartment or a 2 BHK flat if I am working from home?
Ans. If you are working from home, then it is better to have a dedicated room that you can turn into your office and work from there with full focus on your work. So, if your general need is for a 2 BHK apartment, but if you are working from home, we suggest you should opt for 3 BHK apartments in Surat.
3. What time is best to buy a new property?
Ans. In India, there are specific time periods that people believe are the best time to buy any property. I.e. Navratri, Diwali, Dhanteras, the Hindu new year, etc. Many top real estate developers in India also launch new offers and discounts to attract more home buyers. However, in today’s time, most developers run those kinds of offers and discounts throughout the year. So, if you are ready to buy a new property in Surat, now is the best time for it.
Also read: Real Estate Terms – All You Need to Know