Property transactions in India have seen a decline during this corona virus outbreak. But that doesn’t mean that potential buyers should stop owning their own land. Players in the real estate industry in India have been working under pressures for the last few months. Due to all the turmoil in the world, prices per square foot for residential and commercial properties in the housing category across the brand.
In fact, this is the key reason for continued interest in buying properties among potential buyers. Nonetheless, the landscaping of properties improved a lot in 2020.
The most significant changes in this landscape:
- Requirements for credit scores are rising among some lenders.
- Minimum down payments are also increasing. Be prepared to have extra savings money.
- Lenders are coming up with more loan options. It is one valid reason to browse for more than one lender.
- Thanks to a massive loss, more competitive products are available to choose from in the already crowded inventory market.
- Buyers are increasingly putting their home searches on hold, on a temporary basis.
Well, if you too belong to the category of potential buyer, then here is a list of steps to be taken to purchase property in India during the coronavirus outbreak.