The festive season has already started from Navratri and will go on till Diwali. This is the time when most people are favorably inclined towards making big purchases like homes and cars. This is also a time when real estate developers offer several benefits, freebies and other special schemes for buyers. Developers are also offering several incentives and gifts to buyers this year, particularly in Delhi-NCR.
According to experts, real estate developers in Delhi-NCR are already offering free wardrobes for buyers in every bedroom, 32-inch LED television sets absolutely free of cost, modular kitchens with RO and even fully furnished apartments in some cases. Several developers are offering gold coins with home purchases or even global holidays. There are direct discounts offered on the selling price of apartments along with offers like free maintenance for 1-2 years and free car parking. Developers are clearly preparing for the rush during the festive season but it remains to be seen whether buyers are tempted by these offers or not.
Industry experts estimate that the festive season will be favorable for the real estate sector on the back of policies like affordable housing, GST, RERA, FDI and REITs. The Mapsko Group, for example, is offering several benefits at attractive rates for its apartments which are ready-to-move in. These include maintenance for 1 year, 5KVA power backup and free club membership. According to the Director at Mapsko, Rahul Singla, the company is also offering assured gifts through scratch cards in case of on-spot bookings in the festive season.
The Eros Group is offering a flat discount of 5% on the basic selling price (BSP) of every uit at its Eros Sampooranam project in Greater Noida West. Experion Developers is also giving buyers of 3 BHK air conditioned apartments (sizes starting from 1758 sq. ft. approximately) fantastic gifts in the form of free Mahindra KUV100 cars. The Director at Elan Group, Ravish Kapoor, stated that the festive season is primarily concentrated around our emotions and people like investing in this auspicious period, which includes purchasing their dream homes. As a result, the Elan Group is offering several prizes for all buyers including a luxury cruise, mid-segment cars, gold coins and i-Phones according to him.