This is the time of year when the festive season officially begins. People desire to make new investments and purchases at this time of year. To celebrate the mood, property developers provide discounts and schemes to entice purchasers, including freebies and other perks.
For many Ganesh Chaturthi symbolises the start of a long celebration season that will last until Diwali. This is considered an opportune moment to purchase a home. Consequently, developers as well as home buyers, look forward to Ganesh Chaturthi, making the most of the festive spirit. During this time, developers sell close to one-third of their available inventory, according to industry estimates.
This year is no different when it comes to special schemes and offers being dished out by developers as Ganesh Chaturthi approaches. From special box rates on premium 3BHK apartments in prime Andheri East to 0 stamp duty and registration taxes to reduced interest rates for 24 months or the Pre-EMI holiday schemes, it’s raining offers for homebuyers. Spot booking offers with low payment options, and happy hour discounts are also being given this festive season.
“The residential real estate market is witnessing a strong momentum since Ganesh Chaturthi is an auspicious occasion favourable to buying property. This Ganesh Chaturthi, Dosti Realty has something for everyone and it also coincides with Dosti Friendship Month which means the offers are bigger and better this 2022. There are attractive offers like 5.99% loan interest for 24 months/ Pre-EMI Holiday and 0% Stamp Duty and Registration across our projects Dosti Eastern Bay – Wadala, Dosti Mezzo 22 – Sion, and Dosti West County – Dosti Nest & Dosti Tulip in Balkum Thane (W). In our Kandivali (W) project Dosti Oro 67 we have a 0% Stamp Duty and Registration offer. And for our Shil Thane project, we have Gold Worth up to Rs 3.89 Lakhs* as well as 0% Stamp Duty and Registration. Besides this, across all Dosti Realty projects as a special surprise, we have Spot Booking and Happy Hours offers. So, no matter which part of the city you are looking at buying a home, we have something to offer whether it’s a 1 BHK, 2 BHK, 3 BHK, 4 BHK, or even Jodi options. In addition, within each configuration type, there are various layout options to suit our customer needs” Deepak Goradia- Chairman and Managing Director, Dosti Realty.
According to a recent report by property consultant Anarock, housing sales this year in seven major cities – Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, and Pune – will exceed the 2,61,358 units recorded in 2019, the pre-pandemic level, but will fall short of the 3.43 lakh units recorded in 2014, the highest in the last ten years. MMR’s luxury house sales share climbed from 13% in 2019 to 25% in H1 2022 in terms of overall sales share.
Hiral Sheth Gandhi, Director-Marketing, Sheth Creators said that everyone eagerly awaits festivals like Ganesh Chaturthi which marks the beginning of a long festival season, up to Diwali. “This period is considered an auspicious time to buy a home. To make the most of the festive spirit, this year Sheth Creators is offering spacious Ready-to-Move-In 3BHKs with OC obtained at an all-inclusive price of Rs. 3.2 Crore. The largest gated community in Andheri East, Marol, the project is a destination that takes care of all religious, educational, health, and entertainment needs of every homebuyer. Vasant Oasis is a luxurious, self-sustaining township with sound infrastructure and best-in-class amenities. Each of the magnificent towers in the project maximizes space utilization and offers unhindered views of the airport and city skyline while aiming to rethink the design of spacious luxury residences that meet the rising demand for well-being and improved quality of life.”
The real estate industry generally expects that, given the increase in employment and income levels, the recent interest rate hikes will not hurt home sales. With rising income and employment levels, as well as positive customer mood, the industry believes that a rate increase is unlikely to have a long-term impact on residential sales. Sustained momentum in the real estate sector is expected to have a long-term and favourable impact on the country’s overall economic growth.
Parikshit Pawar, Chief Marketing Officer, Shapoorji Pallonji Real Estate, said, “In India, the festive season is regarded as an auspicious time to purchase a home. It’s a time to embark on new journeys. Real estate developers incentivize homebuyers by sweetening the deals and bringing them to fruition. This festive season, Joyville too, gives its customers more reasons to celebrate with offers ranging from gold to home appliances and furnishings starting at Rs. 1.5 lakhs. The overall market sentiment has been very positive. We expect to see a significant surge in demand as we move closer to the festive season.”
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