Is COVID-19 and its aftermath, making you reconsider your home buying dreams in 2020? Well, this global health crisis has made life topsy-turvy for everyone in some way or the other. People are home confined, working from home, children are studying from home and wearing masks is becoming the new trend. Words like social distancing, quarantine, self-isolation, stay at home and be safe have become a part of everyone’s vocabulary. Every individual and industry is reeling under the impact of this pandemic. But postponing your investment plans may not be advisable.
If you are thinking of buying a house in Bangalore, then there are more reasons to pursue your dream home.
Decrease in Guidance Value Expected
After reduced interest on home loans, the Karnataka government plans to cut the property guidance value by 5-10%. This value had increased in January by 5% to 25%. Guidance value refers to the base price of properties in an area fixed by the government and is the minimum amount at which a property can be sold or transferred. The property registration cannot take place at an amount lower than the guidance value and it varies from area to area in a city.
Surveys Highlight Positive Buyer Sentiment
A reduction in guidance value will translate into reduced price of property registration and stamp duty. This will further give a boost to the buyer sentiment, which is already positive in Bengaluru. As per a recent Magicbricks COVID-19 Property Buyers Sentiment Survey, the home buyers in Pune and Bengaluru retained their intention of buying a house post-COVID-19. Even in the last six months, Pune and Bengaluru’s residential real estate market have been high performing. Driven by end-users, 67% of the survey participants wish to go ahead with their property buying decision.
Surge in Property Prices in Near Future
A report by CNBC-TV18 predicts that the property prices may increase in the coming quarters by 15-20% as demand for affordable and luxury segment is already picking up in Bengaluru. The quality of site visits has improved and buyers incline towards purchasing a mid-segment or luxurious property. In fact, with work from home predicted for a longer time, more buyers plan to buy a spacious and well-equipped apartment. The demand for villa-style homes is also on the rise as people feel the need for more space, greenery, and amenities in safe and gated communities.
Whether you are hunting for a mid-segment home or a villament in a safe and secure gated community, your search can end at Valmark. Offering Valmark Orchard Square in the mid-range and Valmark CityVille, the luxurious villaments, you can connect with the team, plan a site visit, and take the big plunge.
Valmark Orchard Square is a 2 & 3 BHK apartment project spread over 3.25 acres and has 272 apartments. If you wish to experience lush greenery and open space, then this project can delight you. Live in high-rise society in the heart of South Bangalore and experience serenity and warmth. A 2 BHK unit here starts from 1042 square feet and 3 BHK is from 1408 square feet. Besides, there are many amenities in which you can indulge, pursue new hobbies, and give a 360-degree exposure to your little ones.
