In Indian society festive seasons are considered as an auspicious occasions to buy new products. Similarly Dusshera is also an auspicious occasion, on this event homebuyers prefer to book their dream home. Whereas, from last couple of years realty market in not doing well due to the constant rise in home loan interest rates which is causing to low demand and supply in housing sector. On the other hand government tightening its grip over realtors by making amendments in property norms such as FSI and the latest blow for property sector is Revised Lease Land Policy which is directly affecting to common man.
However realtors are trying their best to lure homebuyers they are offering special offers and additional discounts, add-on benefits and surprise “spot gifts” such as gold coins or even a foreign junket to make the customer sign the dotted line. In Mumbai, for example, there was a case in which one lucky winner buying into a project is offered another flat as a prize!
On this auspicious season realtors bodies are organizing several property expos in the different parts of Mumbai to increase sales.
When asked to the one of the luxury realty company Rustomjee Group’s director Mr. Percy Chowdhry said, “festive season is considered to be the most auspicious occasion to take important decisions like investing in stock market, buying gold or a house. The belief of seeking God’s blessings before investing in property or moving into a new house has come down through ages in our Indian culture and still continues, leading to booking of a dream abode by the house hunters. The festive season especially Dussehra and Diwali is not only considered to be an auspicious period for home buying, but also with the various incentives and discounts offered by developers makes it lucrative for buyers too.
Developers all across the country launch new projects that offer innovative amenities in newfound & flourishing destinations that promise to provide the comforts of modern living. Developers are involved in detailed consumer behaviour study which helps them create new projects to suit the prerequisites of its diverse buyers. Furthermore, the pricing of such projects are arrived at after due consideration given to its buyer’s purchasing capacity. Year-on-year we receive an overwhelming response for our projects, during the festive season.
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