KURNOOL: Orvakal airport and the Judicial capital Proposal have set off a realty Boom in the Kurnool District. The Uyyalawada Narasimha Reddy Airport at Orvakal in the Outskirts of Kurnool City has started operations now. As a part of the three-capital Plan by the State government, the High Court is probably going to come up on Kurnool-Nandyal Road. Thus, the land costs in Kurnool and Nandyal have Skyrocketed.
The industrial Hub and the outer ring road on the Bangalore Highway also resulted in the growth of Kurnool real estate activity on Kurnool.
Kurnool – Nandikotkur Road is Quickly developing area in Kurnool with the Proposal of National Highway connecting to Vijayawada, Besides Kurnool-Nandyal Road, Kurnool – Bellary Road is also a rapidly developing area in Kurnool with the proposal to build a six-lane highway connecting Pune.
Don’t Just Invest but Invest in Right Property
Simply putting aside your excess income in a savings account may not earn you enough. Consider investing in a property. Let’s compare some options for a better understanding.
A savings account will earn you a maximum interest of 4% per year. A fixed deposit (FD) account will earn you interest from 6% per annum before taxes. A recurring deposit account (RD) will earn you interest from 7% to 8% per annum before taxes. Certain investments in mutual funds can offer between 10% and 15% (or even more), according to the funds.
FD and RD are risk free, because market fluctuations do not affect them. While mutual funds are risky and dependent on market conditions, they have the potential to beat inflation over the long term. This can be an enormous advantage because you are saving today for a house. The same house will cost more tomorrow. So Smarter risk = higher reward. Also, the younger you are, the more risk you can take because of your reduced financial commitments. Buying Plots in Kurnool is Very Good investment it gives you More Returns on investment.
How To Choose A Right Property in Kurnool?
We all dream of owning a home, but have you worked out the details? Are you looking to buy an apartment, an independent house, an Open Plot? How many bedrooms do you want? What amenities are you willing to pay for – parking, pool, clubhouse? Where it is located – in the heart of the city limits or on the city outskirts?
The cost of owning a home varies depending on all (and more) of the factors mentioned above. For example, a house on the outskirt’s costs much less than a house in the city for the same square footage. Knowing these details means you’ll know exactly how much money to save. However, it is crucial to set a budget in line with your current repayment capacity. Sometimes many options for a home they can’t really afford and struggle with EMIs later on.
Be Financially Disciplined to Build Down-Payment
Financial discipline is the Keystone to making this dream affordable. Pay the down payment on a house out of your own pocket.
How to Plan Financially to Buy a property
Where does most of your monthly income go? About rent, groceries, restaurants, shopping, entertainment? Analyze this. Categorize your spending and figure out how you spend your money, then set a budget. In this digital age, you do nothing manually. There are so many apps available to help you budget. You can compare your income to expenses and track how you are spending your money.
It can help you cut down on frivolous spending and save for your down payment. You don’t have to cut your lifestyle expenses completely; you just need to cut them. For example, if you are currently eating out 10 times a month, reduce it to 5 or 6 and save money. Likewise, instead of buying “branded” groceries to cook at home, consider switching to private labels or generics, which may be cheaper. The same goes for skipping expensive gym memberships to exercise at home, taking public transport (or even a bicycle, if possible) to work, etc.
Set Loan the Money for Future EMIs:
Buying a house without a home loan seems impossible today. And home loans don’t come cheap. Pay EMIs every month, and that’s likely to be way more than the rent you’re currently paying. So, use an online EMI calculator to figure out how much you may need to set aside each month to pay off your loan payment. Once you have a clear number, it may be a good idea to funnel your savings and ROIs to set aside that amount each month before you even start paying off your EMIs. It will be a good rehearsal of how you will manage your finances when EMIs actually start.
At Malla Reddy Infra Projects, we present top-tier amenities and 8 years of hassle-free maintenance accompanied by a personal touch in our swift services and on-time delivery. Our KUDA and LP-approved premium Houses for sale in Kurnool are an ideal choice for investment with promising ROIs. Click to know more about us and our projects