Housing & Car Loans: Home and Car Buys Get Easier

The new property promotion advertisements are highlighting attractive payment options, promising quick and timely delivery and assuring buyers about regulatory clearances obtained through adequate disclosures and by flashing their RERA registration numbers.

Clearly, while the new real estate regulations are making home buying safer and more predictable for buyers, there is no reprieve for property developers who are still out in the sluggish market looking to move their inventory by bettering offers even after complying with the new norms.

Take the safe route home…

Property prices also aren’t displaying strength. In fact, there are fears that a sluggish economy might trigger a further slump before any significant recovery is noticeable. This subdued sentiment along with a soft and benign outlook for interest rates in the near term is making home buying a memorable experience for prospective buyers. Developers are wooing buyers with special offers, especially with the festive season round the corner and no visible signs of a pick-up.

In fact, there are concerns that some of the heavily debt laden developers might become prime prospects for bankruptcy. Already, there are rumblings that some mid-sized developers in north India are ready to fold. Any such developments could send shock waves through the market. In such a market, only completed, ready to movein properties will have any demand at all. And these should be the only consideration set for prospective buyers. Given the high inventory levels of about 50 months of sales across key cities, even this should offer enough choice for home seekers.

And drive carefree.

Navigating with caution may be necessary in the home market, but you have no worries when it comes to driving down the street. Car makers are pulling out all stops to offer a wide range of models across segments to court you. You have various fuel variants, model price points and style variants (like base, sports and premium editions) on offer for a standard model or platform. Hyundai’s i20 for instance has over 12 variants if you include engine and fuel specifications.

Add to the variants the number of new model launches by leading players across segments—SUVs, sedans, hatchbacks and small cars—and the range on offer today possibly surpasses anything an Indian consumer has witnessed in the past. Gone are the days of the 5-to-6 models in a segment. Today, there’s enough and more to choose from.

What’s even more exciting are the offers that have been rolled out since GST was launched. Most car makers are offering added benefits on each sale. And if that isn’t enough, low interest rates and longer-duration financing schemes are putting even the luxury car brands within reach of a far larger section of the population.

There couldn’t be a better time to get a new set of wheels. Play hardball and you could end up with a dream deal on your car. So, get on the road and find your dream wheels.

(A marketing initiative by Open Avenues)

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