According to Hindu beliefs, Akshaya Tritiya marks the beginning of special occasions in our country. Akshaya Tritiya in India is considered to be an auspicious day to start anything new in life. We rely on special days for everything and without a doubt, this holds true for our home buying decision as well. Buying a home is a vital decision and an investment of a lifetime for most people. In India, there is an increase in demand for real estate during all the major festivals due to the traditions and positivity that are associated with them.
Akshaya Tritiya is one such day that is considered very auspicious in India to invest in gold or property. People believe that the return of investments that are made on this special day would be increasing in the future. Akshaya Tritiya 2022 falls on 3rd May. If people are able to buy a home on this day, they can avail themselves of many tax benefits.
The government is very keen on boosting the real estate sector in our country and encouraging more people to invest in the real estate market. For instance, the potential buyers who want to go in for a home loan are now eligible to get an income tax exemption on home loan repayment as well.
Akshaya Tritiya importance
We are influenced by our cultural traditions and rituals for everything in life and naturally, they have an impact on our home buying also. Buying a home is a major decision and a lifetime investment for many. In India, there is an increase in demand during major festivals like Diwali, Dussehra, etc due to the traditions associated with them.
Akshaya Tritiya is one such occasion that is considered very auspicious in India to invest in gold and property. It is believed that the value of investments that are made in gold and property on this day would be increasing in the future.
On buying a home on this day, people can avail themselves of many tax benefits as the government is very keen on boosting the real estate sector and encouraging more people to invest in the real estate market. For instance, potential buyers who want to go in for a home loan are now eligible to get an income tax exemption on home loan repayment.
Real estate developers are aware of the buying pattern of people in India. They offer special discounts and irresistible schemes which will totally attract the buyers to make an investment. In fact, the developers are very keen to cash in on the increasing home buying demand and are seen offering a variety of schemes in different kinds of projects to lure consumers.
It is often seen, especially on Akshaya Tritiya day, many people prefer to invest in gold as it is a tradition. However, purchasing gold is unstable as compared to investing in property. It is better to buy a property on Akshaya Tritiya in India. Investing in property brings in numerous tax benefits which are not possible in the case of an investment in gold.
Takeaway
While you can decide to buy a house at any time of the year, the festivals are considered very auspicious in our country and they also tend to bring in a lot of discounts, competitive prices, and many other benefits.
With the government’s determination to reform the real estate sector and the relatively stable property prices, there cannot be a better time for people to invest in a good property. So, what are you waiting for? Go ahead and buy your dream home on the special day of Akshaya Tritiya 2022. However, make sure to explore all the options and analyse the offer before making the final decision.