Real estate developers look to boost sales, woo buyers with Diwali freebies

Driven by the recent repo rate cut by the Reserve Bank of India (RBI) and recent measures by the government, real estate developers are expecting a big boost in their sale numbers. The boost will also be driven by festive offers. Diwali is traditionally the time when most homebuyers purchase their dream homes. As a result, real estate developers who have been impacted by a financial crunch and low buyer sentiments are looking forward to the festival to help revive the demand in the sector.

Rahul Grover, CEO, SECCPL said, "The recent slew measures announced by the government and the affirmation by banks on channeling the repo rate cuts to homebuyers will play a vital role in the upcoming Diwali festive season to motivate buyers. This period is considered an auspicious time to buy property, and developers have already announced attractive deals like Zero per cent GST, homes with modular kitchens, free cars, and other amenities. For the homebuyer, this becomes an attractive value proposition, amidst the economic slowdown, and we should see their confidence in the sector increase, and boost consumption."  

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Farshid Cooper, MD of Spenta Corporation said, "The festival of Diwali is traditionally the time when most homebuyers purchase their dream homes. As a result, real estate developers who have been impacted by a financial crunch and low buyer sentiments are looking forward to the festival to help revive the demand in the sector. Developers are focused on new launches and special offers to capitalize on the festive spirit. In the past few months, various measures to boost housing sales have been announced, including an INR 20,000-crore fund for affordable and middle-income housing projects, a reduction of the corporate rate tax and the fifth consecutive repo rate cut by the RBI, all of which have been helping attract consumers, leading to an improvement in sales.

In Delhi-NCR market; Nirala World is offering freebies like; stamp duty, registration charge, one-year maintenance, car parking, AC, wardrobe, modular kitchen, power back up, lease rent in the ready to move-in ready to move in and under construction phase of Nirala Estate at Gr Noida West. Exotica Housing is offering a free modular kitchen in an apartment of the Fresco project in sector 137. Opportunity is only up to October 31st on limited ready to move in units.

Pacific Group is coming to a step ahead with unique festive offers in Dehradun announcing some mega-discounts on booking of Flats and Penthouses. The group on booking of its property offering Split AC in every bedroom, 32” LED TV, Microwave, Fans, Lights & Geyser, Wardrobe,  Modular Kitchen with chimney and burner, washing Machine, Refrigerator and TV.