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With the housing sector on the upswing, many young professionals are getting tempted by builders' sales pitch to buy a property. However, interest rates on home loans are now bound upward. Taking on a large liability early in their lives also creates its own issues. Millennials need to weigh the pros and cons carefully before taking the plunge.
“Demand from millennials is up due to the tax benefits. They prefer compact apartments with an extra room to accommodate work from home. Their budgets range from Rs 50 lakh to Rs 1.5 crore across cities,” says Ritesh Mehta, head (west), residential
