Akshaya Tritiya is an auspicious day as per the Hindu Calendar and many people buy properties during this period. Developers are offering lucrative gifts and many even willing to pay stamp duty so as to get homebuyers.
By Varun Singh
Akshaya Tritiya an auspicious day for Hindus falls on May 14 this year. The. day is considered auspicious by Hindus and hence many invest in real estate too.
The second wave of COVID-19, which has hit India is causing a wide surge of infections. Several parts of India are already under strict restrictions in a bid to defeat the second wave of the virus.
The economic activity in many states has been hit hard due to the second wave of pandemic in India and some important sectors have already started impacting due to the prevailing situation.
It has already put the brakes on the recovery of the real estate sector which is the second largest employment generator.
After the discontinuation of stamp duty benefit by the Maharashtra Government, the real estate sector which witnessed a strong revival in the last two quarters is now looking forward to the auspicious occasion of Akshaya Tritiya to keep the sales momentum going.
Here are some of the offers put on block by developers to attract homebuyers during Akshaya Tritiya.
For Q1 2021-22, The Wadhwa Group is running an umbrella campaign, ‘Rise & Shine’ Homes for their projects – Wadhwa Pristine at Matunga West, TW Gardens at Kandivali East, Atmosphere O2 at Mulund West and Dukes Horizon at Chembur. The customers can Book now & avail of the Zero Stamp Duty Benefit at any of the mentioned projects.
Bhasker Jain, Head – Sales, Marketing and CRM at The Wadhwa Group said, “The real estate sector witnesses positive sentiments flowing in the market during the auspicious times like Akshaya Tritiya which further spike the demand for properties every year. Moreover, the lucrative and flexible festival deals offered by developers attract home buyers and lead to better sales during this period.”
Jain further said, “On the occasion of Akshaya Tritiya and after assessing the current pandemic situation, we are offering our buyers an option to Book Now and avail the Zero Stamp Duty benefit across our projects which will ease their financial burden to some extent. We have enhanced and made our processes very easy for our customers by providing online assistance with the help of virtual site tours so that they can book their dream home with a hassle-free experience even when they are at home.”
As Akshaya Tritiya is considered an auspicious time to invest in property, every year, potential home buyers make decisions to finalize their purchase during this period and also look for various offers to ease the deal.
Although the current situation due to pandemic has been a concern for the real estate sector, another developer. Vijay Khetan Group in its residential complex, Krishna Residences located in Chakala, Andheri East is offering an EMI holiday for 12 months along with Zero Stamp Duty benefit.
Anuj Khetan, Director, Vijay Khetan Group said, “We have come up with offers that are exclusive for the homebuyers that become an attractive value proposition amidst the economic slowdown thereby boosting their confidence. We are optimistic that this season will give the much-needed positivity and hope the real estate sector needs.”
Another developer Tridhaatu Realty. is offering a Zero Stamp Duty across all their projects in Chembur and Matunga.
“Considering this festive mood, we at Tridhaatu Realty are offering zero stamp duty on all our projects for the festive occasion. The residential segment looks very promising in the current scenario, as customers have now realized the importance of owning a home. With zero stamp duty on offer along with all time low home loan rates, they can now aim to fulfill their dream”, said Dhananjay Sandu, Co-Founder & Managing Director, Tridhaatu Realty.
Runwal Group, has come up with ‘Runwal Summer Online Home Fest’ which is basically a collection of offers available across all their projects – Runwal Bliss and Runwal Avenue at Kanjurmarg East, Runwal Forests at Kanjurmarg West, Runwal Pinnacle at Mulund West and Runwal Gardens at Dombivli. Runwal Summer Home Fest is a platform that offers price benefits, lucky draws, great payment plans, stamp duty discount and much more.
The offers are valid for a limited period of time i.e. till 15th May 2021. It is complete end to end online assistance. Customers can browse properties online, go through sales presentations over video calls and even book digitally.
The offers are, Runwal Bliss, Runwal Avenue, Runwal Forests and Runwal Pinnacle. These include – price benefits of upto Rs 5 lakh, lucky draw (chance to win a car, TVs and other gifts), stamp duty of just 3%, easy payment plans, flexi pay options, zero floor rise, zero PLC and price assurance. The offers may vary slightly across projects.
For their 115 acre township Runwal Gardens at Dombivli East, they are offering price benefits of upto 4 lakh with zero stamp duty, zero registration, zero floor rise, price assurance, special Akshaya Tritiya benefits and also a lucky draw with chance to win a car, TVs and other gifts.
Runwal Group is also offering its customers price assurance whereby they can buy their dream home without the price drop worries. It will safeguard their investment and boost customer confidence.
Commenting on the campaign, Rajat Rastogi, Executive Director, Runwal Group said, “We had a great start to 2021 and business has been excellent. Moving forward with the same momentum, we decided to launch this fresh initiative. This online home fest, where we have amazing offers and numerous benefits across our projects, will enable customers to get all necessary information and book from the comfort and safety of their home. We are very happy with the extremely encouraging response we have received already.”
Dr. Niranjan Hiranandani, National President, NAREDCO and MD , Hiranandani Group said, “The festive day of Akshaya Tritiya traditionally, is an auspicious day for home buying.This year too we expect smart home buyers to take advantage of both aspects – the festive fervour and aspect of making one’s dream home a reality. The need for value homes from developers of repute and proven track record has gained traction on the back of safety, security and stability. The market conditions stand favourable for the home buyers as well as the investors in backdrop of low interest rates, lucrative deals from the developers, choices of apartments, flexi payment schemes from banks and FI’s, attractive price points and other fiscal benefits to grab the right deal. The time is right for first time new age homebuyers to buy its safe nest and existing homebuyers to upgrade into spacious luxury ready to move homes conducive for new normal lifestyle in wake of pandemic”.
Also, he said, “the ongoing development of a slew of mega infrastructure aimed to enhance the rail, road and waterways connectivity to the peripheral metropolitan like Thane, NaviMumbai, Panvel will be an ideal location to grab early mover advantage.”