The past 2 years have been a challenging phase for many people due to the unpredictable COVID-19 pandemic. Due to uncertainty, people had paused in 2019 & 2020 to buy the best apartments in Perungalathur. But in 2021, the situation is getting better, and people’s interest in searching for flats for sale in GST, Chennai and flats for sale near Tambaram is pacing up rapidly. The builders see a good amount of apartments bookings in 2021. If this trend continues, 2022 will be a boom for people buying an apartment in Perungalathur.
On the other hand, especially after the pandemic, some people are shifting their plans from buying the best apartment in Perungalathur than leasing an apartment in Perungalathur. This has its own pros and cons. To uplift the financial status, purchasing an apartment is still the better option considering many other factors. If you are one of those people who are confused about buying or leasing an apartment, this blog is a good read for you! The following are some of the best reasons for buying the best apartments in Perungalathur than leasing:
1. Investment for Life
When you invest in a property like an apartment, you are creating wealth for a lifetime. Though real estate value fluctuates now and then, the ability to create wealth out of buying the best apartments in Perungathur is considered the option for long-term benefits. For instance, when you lease an apartment for 5 years, your money stays safe for the respective years, but the value of money decreases due to inflation and other predominant reasons. At times, when you leave out the apartment after your lease period, some owners might charge you a considerable amount from your capital lease amount as a part of maintenance or for any small breaks or cracks in interiors (made by your kids).
As a best practice, when you can afford an apartment, just go for it. The value of your apartment increases over a period of time, thus creating a safer place for your future generations. To help you serve better, Isha Homes builds flats for sale in GST, Chennai or flats for sale near Tambaram for people who want to buy an apartment in Chennai.
2. Customising is impossible in a leased unit
One of the biggest cons of leasing an apartment over buying an apartment in Chennai is the inability to customise your rooms as per the requirements. As a part of the agreement, most owners leasing their apartments are bound to mention non-customisation as one of the pinpoints to safeguard their apartment’s interior as per their needs. Due to this factor, people leasing apartments cannot do even minor interior changes in their apartments.
For instance, when you lease a 2BHK or 3BHK apartment in Chennai, chances are more that you allocate each room for a bedroom or playroom (as per the requirements). When your kids need the appearance of the playroom to be comic themed or wild animal-themed, you cannot customise it due to the agreement. On the other hand, buying an apartment in Chennai will give you the provision to design, alter, play around with interiors, wall ceilings, wall paint colours and many other options to make your apartment a comfortable space to live in and rejoice with your family for years.
3. Avail Income Tax Benefits
Did you know that apartment/house owners enjoy tax-saving benefits? Yes. According to the Indian Income Tax Act, people taking up a loan for buying an apartment can avail income tax exemption under the rule for affordable homes act 80EEA of up to 2.5 lakhs. Especially after the Covid-19 outbreak, many public and private banks have come forward to offer housing loans to people with minimal interest value ranging from 6 to 7%. Apart from this, as per the Pradhan Mantri Awas Yojana (PMAY), the Indian Government is offering an interest subsidy of up to 2.67 lakhs to first time home buyers.
Owing to the benefits of tax saving and the PMAY Scheme, you can opt for buying apartments in Chennai rather than leasing an apartment in Chennai. If you pick the right bank with a suitable loan scheme, you can end up creating wealth that can fetch you profits in the upcoming decade.
4. Stability for future
Most people who want to lease an apartment think about investing in fixed deposits and mutual funds instead of buying an apartment in Chennai for lumpsum. The prime reason for this thought is to improve their financial stability by multiplying their money through investments. But in reality, buying flats for sale in GST, Chennai is an apt option as it will be a one-time investment, and it will multiply and improve your principal amount year after year. Besides, it benefits you and your future generations to live in the apartment or sell that for many other purposes.
For the past 10 years, there has been a clear spike in property appreciation, and it will relatively reflect in the upcoming years as the COVID-19 situations are getting better in Chennai. In fact, when you buy the best apartments in Perungalathur from Isha homes, you can get guidance from the experts on choosing the apartment that best fits your requirements, such as 2BHK and 3BHK.
5. Living in a real-time community for years
Imagine you are leasing an apartment while looking for flats for sale in GST, Chennai; you tend to stay/ live and mingle with a group of like-minded people who will potentially become your neighbours/friends for the lease period. Most lease periods in Chennai last for 3 to 5 years depending upon the space and lease amount. If you have a kid who has their school near your apartment or your office is nearby, your family staying near your leased apartment, or you and your kids get used to the community, you ought to leave that place after the lease period.
There are instances where you may not get another apartment for lease in the same area. Though it will not affect you a lot, your kids may long for the locality and the neighbours with whom they had spent for a long time. To avoid these scenarios, you can buy flats for sale near Tambaram or the best apartments in Perungathur to stay at a commutable distance from schools, colleges and IT Hubs.
6. Penalties against lease agreement
The lease agreement often comes with norms and penalties for varied reasons. Signing a long term lease agreement means you lose the opportunity to live in any other location until the stipulated time. For instance, you will agree to the terms when you have to take a 3bhk apartment instantly for lease. But in reality, when you don’t like the location in a few days or lack the amenities as you expected, you lose the opportunity to shift to another apartment until your lease period.
On the other hand, when you want to leave the leased apartment before the lease period, you ought to provide the house owner with a hefty amount, which will put your money in vain. Hence, to be on the safer side, buying an apartment or flat for sale near Tambaram is always preferable when you get it within your budget, just like Isha Homes’ best apartments in Perungalathur.
7. Asset for lifetime
Buying an apartment is a dream come true moment for many people. In fact, many of us work hard for years to experience this incredible moment with our beloved families. As great as money, we value assets, and that’s what we consider a moment of achievement. When you have the necessary money in hand or are eligible to buy an apartment out of a loan, this is the apt moment to convert your dreams into a reality.
Did you know? The amenities and the luxury you can enjoy in your own apartment can leave you awestruck. It’s now or never, so don’t miss out on buying an apartment in Perungalathur, GST, in 2022.
Why Choose Isha Homes to buy an apartment in Chennai?
For nearly two decades, we have been helping people buy luxury as well as affordable homes and apartments in Chennai. With a sheer passion to uplift people’s lives, Isha Homes constantly strives to bring happiness in the lives of people to cherish for long years. Our new flats for sale in Perungalathur (flats for sale near Tambaram) are brimming with amenities to take you a step forward in all aspects and uplift your lifestyle as you dream of! Contact us to buy Flats for sale in GST, Chennai and the best apartments in Perungalathur.
Easier connectivity to Perungalathur
Compared to all the above-mentioned advantages of leasing an apartment in Perungalathur, here is an exciting piece of news for you.
From Anna Nagar & Koyambedu, you can reach Perungalathur via 200 feet road.
Guess what? Perungalathur is also connected through Oragadam to Sriperumbathur via Bangalore highway.
It is easily connected from North Chennai via 400 feet bypass road to Perungalathur.
Reach Perungalathur from Vandalur to Kelambakkam road, which connects ECR and OMR.
The 150 feet Eastern bypass road is easy connectivity to Perungalathur, which connects from Tambaram to Velachery.
