This festive season bringing cheer back in realty sector
Festive season has arrived, so has the hunt by families for investment opportunities. For families and individuals, there are multiple products available in the market to invest in right from gold to an apartment. Real estate is always on top of the mind of those who want to either upgrade their residence or park their funds into a rent yielding home. In the real estate sector, fence sitting home buyers always wait for an opportune time. With RBI cutting repo rate, the lowest in could in quick succession, and the festive season bringing out subvention schemes as well as other offers from realtors, there could not have been a better time to take the plunge. During the festive season, different builders provide a range of offers, the catch lies in conducting market intelligence to put the best deal in front of the potential buyer. Several offers like waiver on stamp duty, price reduction, no registration charges, freebies have been tried and tested methods over the years; builders are now focusing on innovative offers like collective bargaining, giving more flexibility and control to buyers overlook and feel of apartments along with the other offerings. Ashwin Sheth Group is offering subvention scheme on its luxury apartment project “Sheth Zuri”, located in Thane West, Mumbai. Under the scheme, “Go-Easy Deal”, homebuyers are required to pay just 5% of the property value at the time of booking. During the period of construction, the developer will pay the interest on the home loan. For one of their other property ‘Sierra’ in Mulund, they are offering builder’s subvention i.e. 10% - Pay Now, 20% - After 1 Year from the date of booking, 30% - Completion of Top Slab, 40% - Flooring Completion (30%) & Fitouts (10%) Bringing Diwali cheer to homebuyers Siddha Group announced ‘Diwali Se Pahele Diwali’ scheme for home buyers, which offers ‘0 Floor Rise Charges’ at Siddha Seabrook project at Kandivali and discount up to 19.6 lakh for people who book homes at Siddha Sky, Mumbai’s first rooftop skywalk. Oberoi Realty is offering some attractive schemes for the festive season. Book any 3/4BHK apartments at Mulund, Borivali and JVLR by paying just 10% of the total value. One can move in their apartments at Exquisite & Esquire located at Goregaon East by paying just 25% with 0% interest. The offers are valid for a limited period. According to experts believed, buying a property in this festive season will benefit the end consumers in many ways. As per a survey conducted by Proptiger.com findings show that sales increase invariably during this season for various reasons. They have estimated that in FY20 Q3 (Oct-Dec’19) sales will rise by 30%. Also the reduction in the interest rates and availability of ready-to-move-in apartments and flats available at the right price can bring more demand during this year’s festive season. Today, homebuyers today demand little extra schemes this season. From features that reflect their modern lifestyles including modular kitchens, luxury bathroom fittings, consumers are looking for a little extra. Millennial Buyers are and educated than before, and are willing to shell out slightly extra premium by not compromising on the amenities. Right location with access to premium lifestyle options like clubs, gym, parking and markets are deciding factors. Hence such fence sitters will come out during this festive season.
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