Benefits of Investing in Property for Salaried Couples
Elite lifestyle and rising inflation demand high earnings and at the same time better savings. This becomes the prime reason of increasing growth of working couples. The traditional way to hive up the extra money is to put it in bank accounts and get a certificate of deposit. Another alternative of investing in property money safely is in treasury bills. Though these methods are safe enough but it will not yield a nifty return. Nowadays, just saving is not enough, an enthusiast will try to make more money with the saved money and that’s how one gets attracted to stock markets and property investments.
Here’s a phrase for the sharpers, the more you want to earn, the riskier it is to be confronted. In stock markets, one can gain a lot but it can be quite heartbreaking when one suffers a severe loss. That’s why investing in property has become the number one choice of investment for those who want to earn plenteous money while keeping their hands safe.
Tricity is coming up as an incomparable destination for investors as well as developers as the major key for considering investment in property is to look for a region that shows clear signs of growth and economic sustainability. The tricity fulfills the criteria with a rapidly developing infrastructure. Major real estate developers have announced many upcoming projects in Chandigarh that cover the affordable and mid-section buyers. Property developers too are offering a fair share of affordable housing units that tempts home buyers.
There are ample of lucrative deals to hatch in investment for salaried couples. For a working couple, an efficient tax plan could be achieved by jointly making use of their dual income to invest and the income tax rules to their advantage as if the couple seeks a joint home loan in place of an individual home loan, the spouses could claim individually a maximum tax write-off of up to Rs 1 lakh on the principal repayment and an approx. of Rs. 1.5 lakhs on interest payment, for the same home loan. Thus, it will be a neat saving for the couple. The other benefit of owning a property is saving the rent allowance. It is preferred to make use of one’s house rent allowance (HRA) as the same is partially exempted from tax, provided rent is actually paid. If one of the spouses owns the house, the other spouse may pay the rent for him or her, to claim HRA. If the couple resides in a rented house, the HRA exemption for the rent paid, could be shared by the couple.
Investing in property will prove to be a good financial move for the salaried couples to secure themselves for future as well as endow their savings at the right place. One such rewarding investment is the newly built green residential towers in the heart of tricity’s fastest developing area, Zirakpur, called the Green Lotus Avenue. These luxury flats and penthouses have spacious rooms, eclat interiors and all facilities of comfort and convenience. Competitively priced, these apartments are an ideal investment and will make for the perfect home for you and your loved ones.