After Navratri festival, preparation for the festival of Akshaya Tritiya is keeping the developers across the country on their toes! As the day is considered it to be auspicious for buying gold, starting a new venture and buying a property; developers are leaving no stones unturned to capitalise and lure real estate customers on this occasion.
The major trend can be seen in the city of Mumbai. “Customer enquiries have increased. Festivals like this certainly provide a push to the otherwise slow real estate market. Festivity may or may not turn into the actual transactions, however, the mood in the market does change to positive with realty developers launching good deals, offering free goodies, several lucrative schemes and discounts,” says Jayesh Arora, a real estate consultant in the city who deals in suburbs such as Thane and beyond.
Some deals such as EMIs waivers; rental scheme where in the buyer will get the guaranteed rental returns for two years from the date of possession and free air conditioner; cash discounts from are being offered by various renowned developers to pull the market crowd.
Expert also say, the discounts and schemes considering the Akshaya Tritiya have also attracted many buyers and investors to the recent exhibition by MCHI and CREDAI.
Similar trend was also seen in Delhi NCR. “The real estate market in Noida and Greater Noida has been slow like other cities. Many projects in the NCR are under construction or moving at a slow pace of development. In a bid to attract buyers and raise funds, such festivals are considered to be an opportunity,” says Neeraj Mittal, owner of SV Realtech Pvt Ltd.
“Noida and Greater Noida are end-user markets, thus festivals and discount impacts them. They seem to be in a mood to buy especially when the property prices are almost stable,” he adds.
While there are many offering cash discounts on basic sale price, some are also offering eight gram cold coin with online booking of a flat and easy payment schemes plan in Greater Noida (West).
With slow market pace and property prices almost resting at one point, this may seem to be a time to buy a property. With discounts and offers such as mentioned above, buyers are in a good position to enjoy property transactions.