Monsoon has officially entered Maharashtra, and it’s not just the weather that’s turned pleasant. This year, trends suggest that present is an appropriate time to prepare for property-buying. Now, one would think how monsoon can be the best time to go for buying or hunting property, but there are logical reasons contradicting this popular notion. As per experts, this is actually the best time to conceive the thought of buying a property. And, it is so because the season offers a parallel perspective about the overall conditions of the building as well as the area.
Maharashtra is one of the most monsoon-hit states, it faces incessant rainfall and dire climatic conditions during these months. Most areas in Maharashtra reel under severe waterlogging during monsoons, roads are flooded and drains are over-flowing. So, it is imperative for prospective buyers to evaluate how well the society or area is equipped to deal with one of the most difficult seasons. By planning to buy a property during the rainy season, buyers can get an exact picture of the quality of construction of the building. Normally structural and constructional defects like seepage, leakages or dampness in walls and ceiling are most evident during this time.
Nowadays most people look for ready-to-move-in flats and once they purchase the property they are left with no choice but to wait and see the impact of prolonged rainfall and excessive downpour on the building as well as the nearby areas. So, if buyers plan a site-visit during monsoon they can get a clear picture about these problems beforehand. Also, issues like traffic in the area, and drains & sewage lines can also be scrutinized properly if a visit is planned right on time.
This year, numbers suggest that housing sale may go up by atleast 30% during this monsoon season, two major reasons cited for this buoyancy are — marginal change in repo rate and home loan rates is still lower than pre-covid level. Another view suggests that inflation remains manageable when rainfall is ample and as per met department, this year the country is expected to receive normal monsoon, allowing enough headroom for RBI to keep the policy rate low.
Buyers need to keep an eye on current market trends, as during monsoon lot of developers comes with monsoon special discounts, freebies etc. in order to keep the sales momentum upwards. Going as per trend, if you look at MMR real estate market monsoon has been kinder for the developers with plenty of pre-launches during monsoon season and with attractive schemes.
