As per Jon Lang Lasalle (JLL) report in Mumbai Metropolitan region (MMR) alone there are 86196 unsold housing units.
Gudipadwa is the last hope on which developers are pinning their hope. The festival popular among developers to find home buyers has seen many developers giving away discounts. As per Jon Lang Lasalle (JLL) report in Mumbai Metropolitan region (MMR) alone there are 86196 unsold housing units.
The Gudipadwa sops are also seen as a measure to spurt sales. The discounts in several cases includes lower per sq ft rate, and also freebies like TV, air tickets and others. Housing experts believe that this padwa will be different from the previous years, which were clouded by the fears of demonetization, RERA, and GST. Also, new launches will be seen.
There are various schemes being offered especially for padwa. For example, Ashar group in Thane is offering Rs 250 per sq ft off, similarly Paradigm Realty is offering 55 inch LED TV, Honda Activa and 10 gm of gold. Most builders including Transcon have come up with a scheme where a buyer has to pay only 10 per cent during the booking, then 10 per cent during registration and the remaining 80 per cent during possession. No GST or discounts on GST is one of the biggest give away from many developers across the city and neighbouring towns. Many developers are also offering the subvention scheme.
Pankaj Kapoor, MD, Liases Foras, a real estate research firm, said, "Padwa is the most auspicious period for real estate industry as people prefer to buy homes during this period. Last year's padwa was mired under RERA, demonetization and GST, which had limited the supply side. This year, the scene is different, and developers also want buyers, hence they are going to offer discounts and freebies. There will be more project launches by the padwa period."
Developers also agree that they are carrying out launches for home buyers during Gudipadwa. Deepak Goradia, Vice Chairman and Managing Director, Dosti Realty, said: "This new launch on the cusp of GudiPadwa which is marked as an auspicious period for property purchase among homebuyers, is done keeping in mind the contemporary needs and demands of potential home buyers."
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