By Varun Singh

October heat is what October is known for however, October 2021 is also going to be known for breaking reality records.

Till Monday evening Mumbai city had witnessed more than 6400 sales, which is way higher than the sales recorded in the month of October 2019.

in the year 2020 October month had registered 7928 sales but the main reason behind it was the stamp duty discount.

Last year the government of Maharashtra scheme of the stamp duty discount be home buyers registering their home purchase between September 1 till December 31, 2020 when given at 3% discount whereas home is being registered between January 1 to March 31, 2021 received a 2% discount on stamp duty.

Last October it was this stamp duty discount that made a bumper sale registration in the city of Mumbai.

In October 2019 the total sales registered in Mumbai city stood at 5811. However, this month till Monday evening the sales had already crossed the 6400 mark.

So what is it that is aiding the realty sales in the month of October in Mumbai, obviously it is not the stamp duty discount because there exist none.

The main reason is the pent-up demand which came out due to festive discounts.

The second wave of COVID-19 had put people on a back foot who wanted to invest in real estate because the primary focus was on health and the medical expenses.

However, with with the number of patients going town and government relaxing the restrictions people have started coming out.

Attract these fence sitters, the real estate community came up with lots of discounts during this festival season.

Normally, home buyers also expect a lot of discounts during festival seasons and many people invest in real estate in this period only.

Apart from discounts the interest rates are at the lowest at present in the country banks are also offering various offers to homebuyers.

The pent-up demand when amalgamates with the festive offer as well as the low interest rates home buyers who have been wanting to invest in real estate have come out and started buying homes which reflects in the registration figures of Mumbai city.

while there is still one week for the registrations for the month of October in Mumbai already October sales have crossed the October 2019 mark and seems like it may be close to or probably more than what October 2020 had registered in the city of Mumbai.

Good number of sales means good news for the real estate industry because the real estate industry was one of the worst affected industry during the Covid 19 led pandemic.

Many developers are giving various discounts which also is attracting homebuyers.

Developers if want to continue with this festive bonanza sales they will have to stick to the prices because no rise in home prices is one of the main reason why homebuyers are investing in real estate.

Also Read: No Stamp Duty to Vouchers worth Lacs Builders offer festive discounts to lure homebuyers

The post No Stamp Duty Discount Yet Oct Realty Sales Breaking Records appeared first on Square Feat India.

By Varun Singh

It is festive time and builders want to attract homebuyers and what works better during festive season, yes it’s offers.

Builders are offering zero stamp duty and even several other freebies that may make a homebuyer buy their homes during this festive season.

Interest rates are historically low that has pushed investors to proceed with their purchase decisions.

The real estate sector which witnessed a strong revival in the last few quarters will be looking ahead to the festive season to keep the sales momentum going.

Here are a few offers by real estate developers to look out for in the festive season.

The Wadhwa Group
In the month of October The Wadhwa Group, one of India’s leading real estate development companies and a prominent realty player in Mumbai, is currently providing various offers’ for their projects Wadhwa Pristine at Matunga, TW Gardens at Kandivali & Dukes Horizon at Chembur. For TW Gardens at Kandivali for which the construction is going in full swing, the Group is offering Zero Stamp Duty Benefit along with a 25:75 Payment Plan. For Wadhwa Pristine at Matunga which is nearing possession, the Group is offering Zero Stamp Duty Benefit along with a 25:75 Payment Plan. For Dukes Horizon at Chembur for which the construction is going in full swing, the Group is offering Zero Stamp Duty Benefit along with Flexi-Payment Plan.

Bhasker Jain, Head – Sales, Marketing & CRM at The Wadhwa Group said, “The real estate sector generally sees an uptick during this festive period starting from Navratri. Also as a buyer, one gets a diversified choice of offers, schemes, prices to make their homebuying decision convenient. Although developers come with various offers, still the buyer has to check a few factors before investing in a property such as a builder’s credibility, connectivity, proper planning, amenities, and design, etc. All nine days of Navratri are auspicious, have sacred importance, and perfect to take the plunge in the home buying decision.”

Transcon Developers
This festive season, Transcon Developers is offering Croma vouchers worth Rs. 2 lacs, Rs. 3 lacs & Rs. 4 lacs on their 1, 2 & 3 BHK homes respectively on the Tower 3 (Passcode All-Stars) of their project Transcon Triumph at Andheri West.

Shraddha Kedia-Agarwal, Director, Transcon Developers said, “Festive season and the real estate industry are always abuzz with activities – new launches, offers, benefits, attractive payment schemes etc. Today customers are globetrotters and they want to experience luxury backed homes with exclusive amenities and facilities. This is the best time to buy a property with exclusive deals and promotions from developers along with low home loan interest rates.”

CR Realty
CR Realty is providing Flexi Payment Plan and Zero Stamp Duty offer on their project Primo in Bhandup throughout the festive season this year.

Cherag Ramakrishnan, Managing Director, CR Realty said, “The festive season that starts from October, is when people are keen to explore new investment opportunities and developers too offer lucrative schemes in the market. An upward movement is anticipated during the festivities, a development that has given builders a reason to believe that the sector may bounce back to business-as-usual by the end of 2021. Low interest rates and various discount offers by developers, are believed to be the key reasons behind the revival in consumer sentiments in these markets. Combined together, such factors are helping real estate sales to return back to pre-Covid levels or even more than that.”

Sumit Woods Limited
Sumit Group, one of the prominent realty players in Mumbai, is currently running ‘Teen ka Tadka Offer’ for their project Arcenciel at Mulund West, the offering is EMI Holiday for 12 months from Bajaj Housing Finance Ltd + Flat Discount of 3 Lacs and wheel of fortune for lucky winners to win a discount of up to 2.5 lacs extra.

Bhushan Nemlekar, Director, Sumit Woods Limited said, “Buying a home at auspicious times and festivals is believed to bring prosperity and opulence in life. Therefore, homebuyers planning to invest, wait for this time of the year and also look forward to lucrative deals and schemes in the market. Considering this festive mood, we at Sumit Group provide attractive offers for the homebuyers, that becomes an attractive value proposition, amidst the economic slowdown, and we should see their confidence in the sector increase, and boost consumption.”

Also Read: Home Loan Interest Cut, Will It Benefit Homebuyers?

The post No Stamp Duty to Vouchers worth Lacs Builders offer festive discounts to lure homebuyers appeared first on Square Feat India.