With the start of Ganesh Chaturthi, that will continue on up to the period of Dusshera and Diwali, the Festival Offers has brought in a flood of positive sentiment into the real estate sector. AK Tiwary reports about the indomitable spirit and resilience of the NCR markets
The real estate sector witnesses positive sentiment flowing in the market during festive seasons, which further raise demand for properties every year.
The lucrative and flexible festival deals offered by developers, too, attract home-buyers and lead to better sales during this period.
While investing in property, buyers should not only look at the deals but also consider the reputation of developers and other factors like connectivity, accessibility, plan and execution of the project, amenities on offer, and potential for appreciation when closing deals.
Demand for workspaces in homes, functional areas, and dedicated space for study, exercise will continue to dominate the market.
Housing remains the safest investment option: conducive government policies, coupled with lucrative offers with guaranteed high and secure returns by developers, will attract investors and end users to keep market sentiment buoyed throughout 2021.
This festive season is expected to register voluminous end user and investor activity, backed by favourable market conditions for investment. Signs are clear with sales seeing a tremendous spike post-June 2021.
Keeping these in mind, top firms like Central Park, Silverglades, Gaurs Group, Signature Global, Antriksh India, Mahagun, Migsun, and Trehan Group have come up with festive offers to promote sales in their projects.
Central Park is offering Rs 1,000 per sq ft discount on its new launch, Bellavista Suites in Sector 48, Central Park Resorts. “Post-pandemic, people are looking for projects that will provide them with better lifestyle while also meeting their health needs in a green setting. Buyers are demanding projects in the lap of nature. We are dedicated to fulfilling all their current demands in our new projects,” Amarjit Singh Bakshi, CMD of Central Park, said.
Signature Global has schemes offering discount of Rs 100 psf on booking of a floor. For the current festival season, many promotional offers have been lined up, as demand for luxury independent floors is picking up.
Manoj Gaur, CMD of Gaurs Group, says: “In the aftermath of the pandemic, the real estate market is seeing favorable homebuyer and investor sentiment. From June 2021,when states began the
progressive opening-up process, the number of home sales and new launch rose. Home loan affordability remains strong as the RBI kept key lending rates at record low levels. The country’s real estate market will benefit from the favourable effects of the world’s largest immunization programme.”
Anubhav Jain, CEO of Silverglades, said: “In view of the festival season, we are of-fering 20:80 payment plan in our luxury mixed-use proj-ect, Hightown, in Sushant Lok A Block, Gurugram. Prospective buyers will get a credit of an amount equiva-lent to four years of home loan interest. The scheme will help homebuyers reduce their financial outflow and maximize their returns.”
Ankit Kansal, thunder _and MD of 360 Realtors, says: “The festival season helps in faster recovery in the real estate market. A home purchase is a very crucial decision in India and, hence, many buyers wish to purchase during festive seasons. This translates into higher sales. In markets like Pune and Mumbai, sales have jumped by around 30% due to the Ganpati festive season.”
Antriksh India has recently launched a new luxury project, Central Avenue, in Sector 33, Gurugram.
Rakesh Yadav, chairman of Antriksh India, says: “We are offering a special inaugural offer of up to 10% discount at the time of booking and a special construction-linked payment plan. The wide range of products in line with current demands will steer the real estate ship towards a recovery path. We expect sales will surpass those of the pre-Covid era.”