On Akshaya Tritiya, developers doling out lucrative offers

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City developers are doling out offers to attract home buyers this Akshay Tritiya. Usually, such schemes are common during GudiPadwa. Developers believe doing something like this will give the real estate industry the much-needed push, especially when it is going through a slowdown. While one builder is offering gold on purchase of flats, there are some who are offering international trips like a family trip to Bali. The various attractive offers include flexible payment options, savings on the Goods and Services Tax, rent and earn option, and no extra charges for raising floors. However, these offers vary across properties. Rustomjee on Akshaya Tritiya is offering consumers the chance to Save upto 15 lacs - 0% GST on limited stock and for limited period. In addition, they are also giving customers the opportunity to acquire Spacious balcony 2 BHK homes at 1.26 cr + Taxes (offer valid on Azziano E wing only). All these offers are available only for Rustomjee Urbania, Thane(W) and for a limited period offer only. Whereas, Runwal Group is offering homebuyers assured Gold Voucher on 3 projects - Runwal Bliss at Kanjurmarg East, Runwal Forests at Kanjurmarg West, Runwal Greens at Mulund West.

Millennials and young couples are expected to take maximum advantage on the occasion of Akshay Tritiya because it is not only the festive essence but also the market momentum that is in favour of the home-buyers. The residential property of Ekta World, EKTA Tripolis located at Goregoan, offers a payment plan of 5% down payment, 80% bank loan and 15% payment on possession, with no floor rise, no GST and No EMI until possession and the affordable projects EKTA Parksville located at Virar currently offers a GST waiver to homebuyers and Akshay Tritiya could be the best time to select a property as it stands up to the buyers’ requirement from different perspectives.” - Ashok Mohanani, Chairman, EKTA World.   Rajan bandelkar, President, NAREDCO Maharashtra on Akshaya Tritiya shares, "“This Akshaya Tritiya brought in good luck for the real estate industry. We have witnessed a 20-25% rise in sales as compared to the previous year. The sentiments during this festive season have reinstated the faith of buyers and stakeholders both and we are looking forward towards constant growth in days to come."   "We are optimistic that this season will give the much-needed positivity and hope the real estate sector needs. We are witnessing an increase in the number of inquiries ahead of the auspicious occasion. This year, the festival is well-timed as several initiatives taken by the government in the recent past has made it a buyer-friendly market. This will also bring back fence-sitters, who were waiting for the perfect opportunity to invest in their dream home," said Prashin Jhobalia, Vice President, Marketing, House of Hiranandani.   “On the occasion of Akshaya Tritiya buyers tend to make purchase decisions for a blissful lifestyle experience. During this time, the developers aim at providing monetary compensation to the buyers by giving exclusive offers and flexible payment plans across their projects that results in immediate cash flow aiding the economic growth. So, not only is it economical for the buyers but also for clearing unsold inventories during this auspicious occasion." Manju Yagnik, Vice Chairperson, Nahar Group & Vice President NAREDCO (MAHARASHTRA)   Rohit Poddar, Joint Secretary, NAREDCO West, and Managing Director, Poddar Housing and Development ltd "Akshay Tritiya is a very auspicious time to make a significant purchase of an asset especially a home. The real estate market has been under duress for the last few years due to non-stop policy changes, but things are now looking up and hence customers should take advantage of this auspicious date "   Girish Shah, Executive Director, Residential Sales, Knight Frank India,“Akshaya Tritiya is an occasion which provides a great opportunity for the home buyers to take advantage of the attractive offers that developers come out during the festival season. Optimistically, we hope that the graph takes an upward curve by the second half of the year basis clarity on regulations and authorities post elections coupled with revised GST rates which will be adopted by the sector from 10th May onwards.”   Rahul Grover, President sales and operations at Sai Estate Consultants, " In today’s vast residential market, most Indian buyers prefer an auspicious day to make a home purchase and hence several developers offer exclusive discounts and special schemes during this period.The sector is relatively stable currently and we are hoping it will give a much needed push to the industry ahead of the festive season. "   "Akshaya Tritiya has long been considered as one of the most auspicious periods for homebuyers to invest in property, owing to traditional customs in India. Even end-customers and potential fence-sitting homebuyers eagerly wait for this festival, expecting developers to launch attractive offers and compelling schemes." Madhusudhan G, Chairman and MD, Sumadhura Group

Tags : News/Views Latest News Developers House of Hiranandani Rohit Poddar Knight Frank India millennials Akshaya Tritiya Kanjurmarg Gold Voucher Runwal Group EKTA lucrative offers Ashok Mohanani EKTA Tripolis Rajan bandelkar NAREDCO Maharashtra Prashin Jhobalia Manju Yagnik Girish Shah