Akshaya Tritiya is on 10th May in 2024. Akha Teej /Akshaya Tritiya is a popular festival in India that occurs on the third day of the month of Vaisakha. This festival has lately gained popularity as an auspicious day to invest in real estate. In the belief that any investment made on this day would provide financial stability and long-term benefits. Buying a home is one of the most significant purchases that you can make in your life, so it’s no wonder that people choose to do it during Akshaya Tritiya. It is regarded as one of the most auspicious days, and any investment made on this day is deemed auspicious.
The virtue of purity
The value of Akshaya Tritiya inspires individuals to invest in real estate. It is one of the few auspicious days in the Hindu calendar that do not require a “shubh muhurat,” as this day is auspicious in itself. It is associated with the goddess Lakshmi, hence, any investments made on this day will result in wealth and success.
Good deals and discounts
As the demand is exceptionally high during Akshaya Tritiya, developers are looking for approaches to capitalise on it to increase sales. As a result, several developers provide generous discounts or incentives to entice purchasers. Offers such as reduced or free stamp duty, gold coins upon booking, and upfront discounts are common.
Tax planning is efficient.
The day falls generally in April or early May. Buying a home at that time offers to take advantage of several tax breaks, including deductions for home loan interest, debt repayment, registration fees and stamp duty, and property tax. Thus, owning a property allows to take advantage of these tax breaks from the start of the fiscal year, which eventually makes it easier to put together a budget.
A variety of options
A time when builders and developers introduce new houses. This led to a greater number of houses being offered for purchase, providing homeowners with a wider range of options. The greater availability of alternatives during this period of time leads to a more competitive market and, perhaps, buying at cheaper rates.
Flexible payment options and low EMIs
Many developers also provide flexible payment arrangements, such as no-interest EMIs or low-down payment options. This lowers the loan amount for property purchasers and allows them to better arrange their finances.
A family tradition.
Buying a property on Akshaya Tritiya is a tradition that many families have been following through the generations. This may give individuals a sense of continuity and connection to their cultural and familial roots.
Although all of these might not be relevant to everyone, they are definitely worth considering in the market for a home. As a whole, Akshaya Tritiya could represent an ideal period for buying a house, but the decision should be determined by one’s financial situation and needs.
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