Builders launch Diwali projects in Maharashtra

Developers are launching a slew of new residential projects after a gap of two years due to slowdown in the real estate market. They are hoping that the upcoming Dussehra and Diwali festival will revive the real esate sector.

Paras Gundecha, president of Maharashtra Chamber of Housing Industry, said: “Festivals bring hapiness and people buy new things like car and house. As per our tradition, people prefer to buy property on the eve of Dussehra and Diwali. The largest numbers of any product and housing sale happens on these said days. So most of our developers are launching new projects and expecting record number of sale.”

He said last two years were dull for property business. “I am hopeful that this year festivals will revive the market,” Gundecha said.

Kaizad Hateria from Rustomjee Group said the festive season is considered as one of the auspicious period for property buyers. “We expect substantial transactions during Dussehra and Diwali,” he said.

Rustomjee Developer is lancing several new projects that include Rustomjee Seasons in BKC Annex, Rustomjee Paramount in Khar-West, Rustomjee Elements in Juhu, Rustomjee Summit in Borivali- East, Azziano in Rustomjee Urbania in Thane-West and new phase in Global City in Virar.

Marathon Group has launched Marathon Nagari NX in Badlapur and Marathon Nexzone—a residential township will be shortly launched in Panvel.