FESTIVE BONANZA: Real estate industry players feel the occasion will encourage investments
City developers are doling out offers to attract home buyers this Akshay Tritiya. Usually, such baits are common during Gudi Padwa. Developers believe doing something like this will give the real estate industry the much-needed push, especially when it is going through a slowdown. While one builder is offering gold on purchase of flats, there are some who are offering international trips like a family trip to Bali. The various attractive offers include flexible payment options, savings on the Goods and Services Tax, rent and earn option, and no extra charges for raising floors. However, these offers vary across properties.
"We are optimistic that this season will give the much-needed positivity and hope the real estate sector needs. We are witnessing an increase in the number of inquiries ahead of the auspicious occasion. This year, the festival is well-timed as several initiatives taken by the government in the recent past has made it a buyer-friendly market. This will also bring back fence-sitters, who were waiting for the perfect opportunity to invest in their dream home. Real estate is a safe investment that will definitely give good appreciation and returns in the long term. The stage is set and all one has to do is make a decision and take the first step towards unlocking their dream home on the auspicious day of Akshay Tritiya. Overall, it is not only the festive spirit, but also the market momentum that is poised to be in favour of homebuyers," said Prashin Jhobalia, Vice President, Marketing, House of Hiranandani.
City builders are hoping that this time fence-sitters will invest in the market. "The real estate is already on the verge of fetching good returns and Akshay Tritiya. As a festival, it will encourage buyers towards investments thereby bringing in a spike in sales for the developer fraternity," said Bharat Dhuppar, CMO western region, Omkar Realtors.
Some associated with the industry feel, that during festivals the industry gets a push that it needs. "In today's vast residential market, most Indian buyers prefer an auspicious day to make a home purchase and hence several developers offer exclusive discounts and special schemes during this period. No floor rise charges, monetary gifts, tour trips, flexible payment options, no GST, across properties are offered by leading developers, which make it the best time to invest. The sector is relatively stable and we are hoping it will give a much-needed push to the industry ahead of the festive season," said Rahul Grover, President sales and operations at Sai Estate Consultants.
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