Navratri, which translates to “Nine Nights,” is a major Hindu festival in India. Devotee of goddess Durga celebrate this festival which lasts for nine nights and ten days according to the lunar calendar. Navratri is celebrated in September or October months. This is widely commemorated with zeal and dedication, and it has profound cultural, religious, and social importance among people.
There are some aspects of Navratri like religious significance, mythological background, fasting and devotion, cultural celebrations, and religious variations.
Investors believe that buying a real estate property during Navratri has special significance since it corresponds with the auspicious and spiritually charged environment throughout the celebration. People also believe that purchasing real estate at time of Navratri year by the blessings of Goddess Durga brings supernatural favours and wealth into their new homes. Navratri season also brings various offers and discounts from builders and developers, making it appealing for home buyers to invest as the prices are at more reasonable. Furthermore, investing during this time of the year brings generational wealth, financial security, and long term commitment for investment growth.
Offers and Discounts: During Navratri, builders and developers come to various offers and discounts to entice potential real estate buyers. You can learn about them through various advertisements on social media accounts and websites. Some Prices can be decreased with elimination in registration fees, and flexible payment options, making the property affordable and easy to buy. To sum it is a win-win situation for buyers.
The Propitious Timing: This nine-night holiday is deeply believed and widely celebrated among people with considerable religious importance. It is embedded in India’s rich tapestry of history and spirituality and is thought to be a time when cosmic powers are at their highest, embracing positivity and making it an opportune time to make critical life decisions. It is considered a holy period to purchase real estate, as it is exceedingly advantageous and brings prosperity and blessings into one’s life.
New projects launch: In India, launching new real estate properties and developments during Navratri has become a popular and smart option for investors and developers. Real estate developers come up with some attractive and undeniable offers to attract potential buyers with cost-saving alternatives. As the timing is fortunate while corresponding to religious and cultural beliefs, Navratri real estate projects are launched during this time. Navratri’s communal atmosphere produces a welcoming environment, making it a great time for real estate deals.
Future investment: As Nvaratri represents the beginning of a new chapter in one’s life and since real estate is a long-term investment, this time of the year is an excellent opportunity to invest in a property that will give you stability and financial security in the near future. Hence, investing in real estate during Navratri is a wise financial investment.
Low interests and tax benefits: Navratri season offers significant tax benefits and interest rates for real estate investors. During this time, buyers can claim deductions on interest paid on home loans, reducing their taxable income. Additionally, banks often offer special holiday offers on home loan interest rates, presenting an ideal opportunity to secure favourable terms and secure long-term financial rewards. Under the Income Tax Act, buyers can deduct the interest and principal on their house loans, reducing their overall financial burden.
Questions investors have while buying a property during Navratri:
Is it good to negotiate the price?
Yes, the heightened demand for real estate during the holiday season may provide purchasers with extra bargaining power. Developers may be more willing to provide better terms or offers, making this a good moment to negotiate.
What precautions should I take while investing in a property during Navratri?
While Navratri is an auspicious season for property purchases, it is critical to undertake complete due diligence, examine property paperwork, and consult with legal and financial experts to ensure a smooth and secure transaction. So, it is advised to take precautions with it.
Is there any particular day during Navratri to finalise the deal?
The ninth day of Navratri, also known as Mahanavami, is considered to be the most auspicious day for all real estate-related deals. On this day, many real estate investors prefer to make the purchase and finalise the deal.
Am I eligible for tax benefits if I buy a property during Navratri?
Under the Income Tax Act, homebuyers can certainly deduct the interest and principal on their home loans. At the beginning of your property search during Navratri, you can keep track of receiving these deductions in the following fiscal year.