Business Standard

Festive Season brings optimism in the Realty Sector


Festive season is traditionally considered to be an auspicious time for buying properties.
It is a time when most of the developers launch especial offers including discounts on properties, gold coins on every purchase to organising lucky draws, developers adopt every trick to attract buyers.
Naturally, people come out in large numbers to hunt for their dream homes.
With interest rates falling sharply over the last six months and most banks linking their home loan to RBI's repo rate, there are chances of further reduction in interest rate, the time is near perfect for buyers.
Moreover, with property prices remaining almost stagnant in the last couple of years also augurs well for the buyers. Amid the favourable conditions, developers are expected to report decent sales numbers even without offering 'expensive' return gifts.
"With the onset of the festive season, end customers, as well as developers, look forward to making the most of it. Festival season begins from Ganesh Chaturthi and lasts till Diwali. It's considered most auspicious time to invest. It is the time when developers offer many offerings and freebies to attract buyers and push their selling. On the other hand, buyers consider festival season as an auspicious time to own a property. Bhumika Group a leading name in commercial real estate in north India offering assured gift on every booking with inaugural discount in its project Urban Square Galleria located in Alwar and a gold coin on every booking in Rajasthan's largest mall Urban Square located in Udaipur," said Uddhav Poddar, MD, Bhumika Group.
"With the repo rate at a 9-year low, banks have substantially reduced home loan interest rates to a record low level. Data available with show that over 4 lakh ready to move in housing units lying unsold in nine major property markets are priced within the Rs 45 lakh bracket. Investing in these units would allow additional savings in the form of an increased tax deduction limit of Rs 1.50 lakh on interest paid on a home loan as announced in the Budget in July. The upcoming festive season could be an interesting period to take advantage of these factors as well as potential deals that might be available from developers," said Dhruv Agarwala, Group CEO,
The upcoming festive season would see the launch of Mega Home Utsav from starting 25th September 2019. To make home buying more lucrative than ever before, this year will be giving away a mega cash prize of Rs 30 lac to one lucky home buyer along with 1 lac cash prize each to 50 lucky home buyers who register during the event.
The event, to be held from 25th Sep till 31st Oct 2019, will be promoted on multiple channels, in different formats across all devices. With a positive ecosystem, auspicious timing and a larger than life offering from, home buyers have something to look up to this festive season.
Mahagun Group, adding a fervour to the festive season has extended its ongoing Great Indian Property Bazaar till the end of festive season, where the group is offering 15 great offers - 0 per cent GST, car parking, modular kitchen, hotel/club membership etc on its different projects - Mahagun Mantra, Mahagun Montage, Mahagun Myswoods, Mahagun Manorial, Mahagun Mezzaria, Mahagun Mirabella and Mahagun Meadows.
Gaur Group, the realty major has come up with festive offer at Gaur City and Gaurs Siddhartham where it is offering registry Free + 24 Free Gifts (AC in every bedroom, semi modular kitchen, led tv, wardrobe in bedrooms...Etc.)
The group has introduced the concept of Lucky Wheel at Gaur City Center offering 8 GM Gold Coin/Refrigerator/Philips Air Purifier/Washing Machine/LED TV 32"/Armani Wrist Watch/i Phone 7. Also, at it's another project Gaur Sportswood, the group has announced free registry.
Gulshan Homz, leading real estate developer offering free covered car parking, power backup, club membership and lease rent at its luxury project Gulshan Botnia, located on Noida Express.
Saya Group is offering a striking payment plan for its nearing to possession project - Saya Gold Avenue where the interested buyers can book a flat by paying only 30 per cent of total price, 20 per cent at the time for applying for OC and 50 per cent on the time of possession.
SG Estates Limited has a bunch of deals on it project - SG Shikhar Heights in Siddhartha Vihar, Indirapuram. The group has announced Rs1 lac as the booking amount with a monthly rental till possession. It is offering 19 offers including free club membership, LED TV, Chimney, HOB etc. The Group is also comes up with 15 free offer in its ready-to-move-in residences SG Grand which is located at Rajnagar Extension in Ghaziabad. SG Grand has already received Completion Certificate and families are residing here.
Bhutani Group, the prominent realty players in the commercial segment based out of Noida have introduced festive offers for its customers on its projects - Cyberthum and Grandthum. The buyer on booking 2 units of MY POD, Retail spaces and Anchor Spaces at Cyberthum stands a chance to win 40'' LED TV, Apple I-Phone 10 and Apple I-Pad respectively. On booking office space at Grandthum, a customer can win 55'' LED TV.
Spectrum Metro has a big bunch of deals with a single unit booking in their projects. Buyers can get a chance to win Mercedes Benz along with assured gift upto Rs 1,00,000 on every booking.
SCC Builders, a dominant real estate player is also coming forward with festive offers from 29th September'19 to 30th October'19 in its Ghaziabad based project SCC Sapphire (phase 2) under which customers can avail a special offer under the scheme 'Book your Home Today and Move in any day'. The group is also providing assured gifts that will given through a Lucky draw on bookings. They are also offering special rates for the limited inventory of ready to move in apartments.
Owing to the festive season, Chandigarh based real estate developer Sushma Group has announced 'Sushma Happy Home Celebration' where customers can avail limited period benefits by buying residential projects with Sushma Group. The offer primarily is about getting premium units in non-premium price for almost all residential projects, leased and ready to move business spaces in commercial projects of Sushma Group.
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First Published: Sep 28 2019 | 4:51 PM IST

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