The gravity of a situation is not felt until we don’t see it from our standpoint. In this case, the focus lies on a pandemic that our generation is facing for the first time; here, the coronavirus and the lockdown that followed!
The year is 2020, and who knew that a wave of an unknown virus would sweep everyone off their feet, and the world will come to a standstill within a few months.
The COVID 19 era has made us realize the importance of spatial living and made us rethink the importance of owning a home! Four walls and a roof that makes us feel safe and secure.
But, what if the place we call our home is not truly ours? What if the place we thought we would be safe is taken away from us, and at the end of the day, we are looking for space actually to be safe and, in this case, to be alive!
This scene does belong to a book, but a reality of the dire situation the majority of the tenants face on a yearly or quarterly basis.
Seeing the dubious situation of the tenants in this period of the pandemic, one of the renowned Real Estate Builders in Jaipur, Mahima Group, decided to come up with an initiative to free the people from the doubt of renting vs. buying a house and turning the tenants to landlords with ease.
Mahima Groups Initiative to Turn Every Tenant to A Landlord
The unpleasant emergence of coronavirus has pushed the world to unstable economies, and the markets have crashed. All the losses, including equity markets, shares, mutual funds, and other verticals of investments, are only the tip of the iceberg, and the hidden repercussions are likely to surface further with time.
Even in these uncertain times, Real Estate is one such commodity which is the safest and by far the most profitable investment. Owing to factors like appreciation over time and tax benefits, buying a home over renting will be wise.
As the times are changing, a family’s needs are also seeing a change and growth over the period. Mahima Group’s initiative to turn every tenant to the landlord is the result of all the hassle that the tenants faced during the lockdown period.
Take a look at,
What do the Plans Look Like?
Mahima Group has rolled out two excellent schemes that will turn every tenant into a landlord. And what’s more? The EMI plans in these schemes are a piece of cake.
Under one of the schemes, if you buy a flat or villa in any of the under-construction properties like Mahima’s Sansaar & Mahima’s spring villa at Main Tonk Road and Mahima’s Shubh Nilay at Ajmer Road, them, you won’t have to pay any EMI until the possession. To say it in simpler terms, you can book your own home without paying the EMI.
In the second part of the scheme, if you buy a flat in ready to move in apartments like Mahima’s Nirvana at Ajmer Road and Mahima’s Bellevista at Jagatpura, then Mahima Group will bear the cost of the 50% of EMI for the next 36 months which means, the homeowner will only have to pay the amount equal to the rent of flat.
Basically, in both the schemes, you can own a home without incurring any additional costs.
So from where did the idea of launching these schemes occurred?
Here is the key,
How has COVID 19 Affected Housing?
In the wake of coronavirus pandemic, the world is forced to rewire the norms of all that, which was once considered normal. Starting from casual handshakes to lifestyle and housing, everything is now affected by the wave of transformation bought by COVID-19.
The fortunate people who have their own homes are lucky enough to stay indoors and have the freedom to live the way wanted. Also, when no one was allowed to move with the exception of an emergency, the homeowners still enjoyed walks on terrace and balconies.
On the other hand, the tenants were not allowed to move out of their homes to maintain social distances, and even if they left due to some unavoidable reasons, their entry was restricted after that.
In addition to it, few cases also involved the tenants’ untimely eviction as soon the news of coronavirus came to the streets. This left the helpless tenants without a reliable option to turn to and to vacate the property despite paying the rent faithfully. This kind of scenario is not new and has been a tale of almost 60% of the tenants for long.
Apart from this, the disturbing clashes with the landlord, sudden inflation of rental rates, and hindered privacy are few of the hundred issues faced by tenants regularly.
To uncover the truth of the problems faced by tenants in the long run, Mahima Group asked the ‘1000+’ of tenants of Mahima Group properties and discovered the fact that a majority of the tenants wish to buy their own but can’t do so due to financial crisis, lack of good location in budget and hefty EMI’s.
Hence, Mahima Group devised ways to solve these frequent issues by making everyone free from rent and making them a homeowner.
Now let us understand,
How is Buying a Home Better than Renting?
For many of us, buying a house is considered a milestone in one’s life. People work hard and aspire to achieve this personal dream, both for investment and emotional reasons.
Out of numerous pre and post-COVID impacts, one of the most significant ones is the reduction of the gap in buying a house vs. renting. The equation is becoming more balanced, and the growth of more potential buyers is hitting the real estate market, which is causing a shift back towards buying a home rather than renting a space.
If we talk about the statistics,
Acc. to Q1 2020, buying accounts for 29% of national median income while renting accounts for only 25%, and Q2 is yet to be seen.
In support of the stats, there are significant benefits of buying homes, which include creating long-term wealth accumulations and numerous tax advantages.
Also, if you are looking for rental income that can only be possible if you buy a home as real estate property performs better than any other asset.
Apart from these, you also get a greater feeling of security, and a sense of achievement affects your emotional being positively.
In accordance with the latest trends and situations, Mahima Group clearly understands the usefulness of owning a home and offers the best residential properties in Jaipur to make everyone realize the dream of their home.
Hence, buying is a clear winner in the long run!
On the Whole,
It won’t be an exaggeration to say that the 2020 pandemic has turned the world upside-down and made everyone reflect on their choices of living and the lifestyle that was once considered normal.
The time to reform things, innovate, and to be prepared for a better future is now!
Buying a home now under two of the most attractive schemes brought up by Mahima Group to make everyone free from rent, is the best time to invest in assets that will prove beneficial in the long run.
Consider that someday, your house might be worth more than what you paid, and you can move on to make a profit from the same.
Sounds good? Well, acting on it is even better!
So why think twice? Get more information about the schemes and take your first step towards a better lifestyle.