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Investing in real estate has long been considered an excellent strategy for long-term wealth generation, since it can provide the investor with very high returns through the years. There are a plethora of advantages to property investment as it is a source of steady cash flow, good rental returns and can grant plenty of tax benefits. Being one of the leading real estate developers in Mumbai and other cities, L&T Realty offers an array of impressive residential projects that are highly lucrative for potential investors and homebuyers.
Without further ado, let us discuss why now is a good time more than ever for you to invest in property, given the present state of the economy:
It is associated with prestige and authority
Other than gold, real estate is one of the safest forms of investment and securing your money. From mutual funds, fixed deposits, bonds and equities to cryptocurrency and digital currency, there are various investment options out there for you. Yet, real estate is more than just an investment, for owning a house holds sentimental value and is also a sign of authority and prestige. Having your own abode is a necessity, and property investment is a way to not only fulfil it but also for protecting your future. Hence, purchasing real estate is among the safest and most profitable long-term investments you can make.
It provides tax advantages
Real estate investment is a smart move in order to obtain tax savings. There are several tax advantages it offers. For instance, you can get savings of up to INR 1.5 lakhs on the principal amount if you have availed a housing loan – under Section 80C of the Income Tax Act. Moreover, according to Section 24, you can get savings of up to INR 2 lakhs on the interest payable. Also, as per Section 80EE, you can claim an additional deduction of INR 50,000 per annum in respect of residential property loan, beyond the deduction that can be claimed under sections 80C and 24. Thus, you can reduce a considerable amount of taxable income by investing in real estate.
It is a profitable material asset
Real estate has a strong tangible asset value compared to other types of investments that have little to no tangible value, such as for example, stocks. That’s why it offers long-term security as opposed to the others as its value is very less likely to plunge. Real estate does not pose insurmountable financial hurdles, hence it is a profitable asset to own.
It offers financial security
Property investments pave the way for obtaining a consistent cash flow. If you are renting your apartment, then the rental income you earn on a monthly basis can help you generate a decent passive income. This is particularly beneficial for individuals nearing their retirement age, as this income can let them enjoy their retired life peacefully with financial security.
It is great legacy to leave for your heirs
Most people pass down their assets to their descendents or legal heirs – and leaving them with property assets instead of cash is an ideal option. Real estate is a fantastic income-generating asset that increases in value over time, making it a great legacy to leave behind for the inheritors.
It is a well-structured investment
Since the advent of RERA, the process of investment in real estate has become even more transparent and structured, comprising established and properly-documented court precedents. And once the prescribed legal procedures like registration and stamp duty are completed, there will be absolutely no chances of fraud if you have invested in a credible project – for example – Veridian Powai and other properties developed by L&T Realty.
These are the major reasons that make property investments worthwhile. Get in touch with us at L&T Realty if you are looking to invest in a new home, and are seeking information on L&T Centrona price or details on any of our other projects.