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This post today is about the auspicious month of Ashada for investing in a property and how buying a house now can help you SAVE big time! Read on…
June-July which is the usual time of frenzied tax filing, last minute investments and property buying has an added anxiety and apprehension of investing in a dream home during the month of Ashada.
July 31 deadline for Tax filing may seem a month away, but investing and saving is on everybody’s mind with the last minute rush to safeguard income from pinching tax.
A house is the largest investment a majority of us make in our lifetime and even better if we get to buy our dream homes and live in it, mortgage and loan free! With home loans, tax concessions are a breather. It is a known fact that buyers benefit from income tax (IT)deductions on properties bought on loans. Under Section 80C, buyers can claim tax deductions of up to Rs 1.5 lakh and for a property that is self-occupied by the buyer, a Rs 2 lakh benefit is available under Section 24 (b) of the Income Tax Act.
Is Ashada the most auspicious time to buy a property?
“Aadi” is said to have originated from the Sanskrit word “Ashadi”. This perceived ‘unholy season’ of Ashada Masa/Ashadam has begun on June 22th and will end on July 22rd as per the Hindu calendar, and mostly observed in Karnataka, Andhra Pradesh, and Telangana. Even though this period is considered to be not so good a time for special occasions like house warming/gruha praveshamsand weddings, this month is regarded as the most auspicious time for worshiping gods and goddesses. Temple visits, pujas, worshiping family gods and scared rituals are all on the cards for south Indians.
And, the same Hindu calendar encourages house warming ceremonies and home buying between February and September every year, which covers Ashada, Shravana, Bhadrapada. So, when it is believed to bring luck, enhance peace and prosperity, why wait to buy your dream home or for good things to happen? Ashada and beliefs related to it have no spiritual backing of facts and so, it is up to those who believe in the rituals and customs versus those who are practical in their thoughts.
Don’t wait for Ugadi/Gudi Padwa, Dusshera or Diwali to buy your dream home. Invest when it is the right time for your investment to grow in the market. Remember, consistent growth is better than a growth spurt and fluctuations when it comes to your hard earned money. Put your buck where it counts.
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