The buyers aspiring for a dream home these days could actually book home with nominal amount and could pay the remaining amount after a year.
Apparently aiming to infuse life into dormant reality sector, builders have floated battery of offers for luring buyers as the city has geared up for auspicious Ganpati festival.
However, realtors claim that it's the buyer who would emerge as winner while taking away discounts, below par property rates and all the sops. Significantly till recently due to steep recession, all kinds of sops and offers had vanished from the real estate market.
Floating unique post-paid concept, Casa Greens has offered ready possession on booking amount with the EMIs starting a year after possession.
Builder Anoop Agrawal (New York City) told dna that its end-user market and properties ranging from Rs 10 to 25 lakh are in demand. "We are booking flats on just Rs 21,000 with keeping property rates at 1600/sq ft," Agrawal said, adding that the time is optimum for buying properties as rates are still 10% below than normal.
Pankaj Chatterjee from IBD Group sounded similar.
"The reality market is still tight but hopefully Ganpati festivities might boost market sentiments," said Chatterjee adding that his group is offering properties at just 10% booking amount. We are offering properties at Rs 2751/sq ft, he added.
However builders' association CREDAI Indore is not too pumped up. CREDAI Indore president Gopal Goyal talking to dna said that still the reality segment is in dire straits due to prevailing uncertainty and recession. “The recent enthusiasm shown by realtors only would benefit buyers and not the builders who wish to free capital from completed projects," he claimed.
Private and public sector banks also have turned on the front foot by offering easier loan sanctions, offering schemes like cash back and waiver in processing fee.