Real Estate: The round of offers on buying a house in Navratri is over? What’s going on in the real estate market? – offers on buying a house in navratri had gone what is going on in the real estate market know here
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This year offers are seen sporadically
Pradeep Agarwal, Founder and Chairman, Signature Global (India) Limited, says that attractive schemes are being run in his Gurgaon’s Sector 79B’s ‘Signature Global City 79B’ and ‘Signature Global City 92-2’ in Sector 92. Used to be. These include new independent floor projects and shop-cum-office plots. This company is running ‘Sone Pe Suhaga’ offer. In this, a homebuyer who books their dream home with Rs 1 lakh will stand a chance to win a new car worth Rs 5 lakh and gold coins worth Rs 50,000. Additionally, customers booking the Signature Global Shop-cum-Office plot in Sector 37D will be eligible to win 50 grams of gold worth Rs.3 lakh along with introductory benefits.
Customers bring offers but..
Pradeep Aggarwal says that during the festive season of Navratri, these promotional offers not only increase demand, but also establish the developer as a company. But this year, developers running offers during Navratri are few and far between. Rahul Purohit, National Sales Head, Square Yards, says that such festive offers are like a ritual. Through this, the developers want to ensure that the pace of buying remains the same even in the midst of rising property prices.
What were the offers earlier
Earlier, on the occasion of festivals, developers would try their best to strike deals with maximum number of home-buyers and register bountiful property sales. They offered flexi pay-plan schemes, assured gold vouchers on bookings and offers like car and furniture, club membership and even discounts on foreign-trips, etc., to boost the home-buying sentiment of customers. Some developers did not even charge stamp duty and GST to reduce the financial burden on the buyers. Before such advertisements, newspapers were colored. But this year nothing like that is visible.
freebies ain’t free
Rahul Purohit says that before you get attracted to these tempting offers, do your research before buying. It is very important to check the monetary value of the offer before availing the cash benefits. Because, some developers increase the base price of the property before giving the discount. Also, it should be remembered that freebies are not really free, they add up to 1-8 percent of the property cost.
Also evaluate flexible payment scheme
Home buyers should consider flexible payment schemes that are time bound or possession bound. By choosing the possession bound option, the buyers will get a longer time for payment. On GST exemption offers it should be checked whether the GST benefit being offered is on an under-construction property or not. Because, ready-to-move property cannot be sold with GST exemption. Buyers should also check whether the under-construction property has got OC or not, and then compare the prices before and after OC to find out whether GST exemption has been given to the buyer.
Developer’s margin has decreased
A developer from Delhi NCR, on the condition of anonymity, said that now that margin is no more in the real estate sector. The prices of building materials are increasing continuously. Work has started after Corona, but masons and laborers are not getting as before. Their wages have also increased. The earlier inventory of flats is almost sold out. New projects are not coming as much as there is demand. This is also a reason why there is not much commotion on Navratri this time.
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