INVESTMENT IN REAL ESTATE IS A GOOD OPTION
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It is the general trend in a civilized society that people do earmark a portion of their income for meeting unforeseen circumstances and for meeting the future needs of self and family during the lean period including old age. Financial management if adopted in a scientific way would bring in attractive returns on the investments made. The investor should be prudent enough to select a proper scheme from out of various options keeping in mind the safety for his investment with assured good return.
Till recently, bank deposits, stocks, mutual fund, insurance policies and bullion were the most opted options by the people. Presently, Bank deposits, insurance policies, mutual funds have become unattractive because of low returns while the stock market is unpredictable and volatile. Moreover, the investment avenues in stock market need close monitoring. With the globalization of the business, many more options for investment have unfolded and the investment strategies have become very complex. This has led to the emergent of specialized investment advisers. According to many investment advisers, investment in real estate is safe and high yielding. But, the investment in real estate is a long-term investment needing considerable capital.
The liberalized scheme adopted by the Government of India has awakened the hitherto dormant Indian economy and many multinational companies have set up their offices providing employment to a large number of people. The Foreign Direct Investment in real estate and the creation of Special Economic Zones have also given a fillip to the real estate sector.
Reverse Mortgage
As a welfare measure, Government is considering introduction of a new banking system called Reverse Mortgage system to facilitate the elderly persons to get housing loan upon mortgage of their immovable property to meet expenses of certain specified categories such as medical expenses, repairs to the dwelling house etc. on the security of his dwelling house. The borrower can repay the money borrowed along with interest during his life time in installments or allow the debt to accumulate to be realized on the death of the borrower. The amounts outstanding will be a charge on the property.
Litigation
Thus, investment in immovable property would not only help the investor to have shelter over his head till death, but also get financial assistance without any commitment of repayment of amount borrowed during his life time. The manifold increase in the pay packets of the staff of multi-national companies and the migration of rural people to urban centers in search of assured income jobs and the desire to have shelter of their own have given a boost up to the real estate market. It is now the desire of every young person to have a house of his own in metropolis like Bangalore as a matter of pride and also to avail I.T. rebate available on investment in immovable properties. Since investment in property is huge, the investor should be cautious and consider various factors before making any investment in real estate.
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