Why 2024 is the Perfect Year for Your First Property Investment?

Dec 15, 2023 - by Flat In Kalyan

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Why 2024 is the Perfect Year for Your First Property Investment?
As the real estate market in Kalyan continues to grow, more and more people are considering investing in their first property. With the right research and planning, 2024 could be the perfect year to take the plunge. In this blog, we’ll explore some of the reasons why 2024 is an ideal time to invest in property in Kalyan.

Infrastructure Development
One of the most significant factors that make 2024 an attractive year for property investment in Kalyan is the ongoing infrastructure development in the area. The government has announced several major projects, including the Mumbai-Nagpur Super Corridor, which will connect Mumbai and Nagpur via a high-speed rail network. This project is expected to be completed by 2024, making Kalyan a more accessible and desirable location for investors.

In addition to the Super Corridor, several other infrastructure projects are underway in Kalyan. These include the construction of new metro lines, flyovers, and bridges, as well as improvements to existing roads and highways. These developments will not only make it easier for people to commute to and from Kalyan but also increase the value of nearby properties.

Rising Demand for Housing
Another factor that makes 2024 an ideal time to invest in property in Kalyan is the increasing demand for housing in the area. As more people move to Mumbai in search of employment opportunities, there is a growing need for affordable housing options. Kalyan, with its proximity to Mumbai and lower property prices, is becoming an increasingly popular choice for first-time buyers and investors alike.

According to a report by Colliers International, residential sales in Thane and Navi Mumbai (which include Kalyan) increased by 35% in 2019 compared to the previous year. This trend is expected to continue as more people move to these areas in search of affordable housing options. As a result, property prices in Kalyan are likely to rise over the next few years, making it an excellent time to invest before prices become too high.

Government Initiatives
The Indian government has also introduced several initiatives aimed at promoting affordable housing and attracting foreign investment in real estate. One such initiative is the Pradhan Mantri Awas Yojana (PMAY), which provides subsidies and tax benefits to first-time homebuyers and developers of affordable housing projects. This scheme has helped to boost demand for affordable housing options and has made it easier for first-time buyers to enter the market.

Another initiative that could benefit property investors in Kalyan is the Real Estate Regulation and Development Act (RERA). This act aims to promote transparency and accountability in the real estate sector by requiring developers to register their projects with regulatory authorities and provide detailed information about their properties. This will help to protect buyers from fraudulent activities and ensure that they have all the necessary information before making a purchase decision.

Potential for Capital Appreciation
Finally, one of the most significant benefits of investing in property in Kalyan is the potential for capital appreciation over time. As we’ve discussed earlier, the ongoing infrastructure development and rising demand for housing are likely to drive up property prices in Kalyan over the next few years. This means that investors who buy properties now could see significant capital gains when they sell their properties in 2024 or beyond.

In addition to capital appreciation, investors can also generate income from their properties through rentals or leasing agreements. This can provide a steady stream of passive income while they wait for their properties to appreciate in value over time.

2024 could be an ideal year for first-time property investors looking to enter the market in Kalyan. With ongoing infrastructure development, rising demand for housing, government initiatives aimed at promoting affordable housing and foreign investment, and potential for capital appreciation, there are many factors that make Kalyan an attractive investment destination. However, as with any investment decision, it’s essential to conduct thorough research and seek professional advice before making a final decision. By doing so, investors can maximize their returns while minimizing their risks over time.

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