Indians look for the right occasion as well as an auspicious one to start anything new and also property purchases are no different. A key light for the festive season used to be the mega discount offers announced by the builders. As a run upto the festival season in India a slew of measures have been taken by the government of India in order to boost the housing real estate sector.
The festive season is the best time to roll out special deals, in order to enhance buyer sentiment. As stated in the report, home sales during the festive season invariably increase for a variety of reasons. In the October-December quarter of FY19, for instance, home sales increased by 30%. While sales volumes decreased in the quarters that followed, they are expected to see an upward movement during the upcoming festive season. While the liquidity crunch and a ban on subvention schemes might keep developers from launching mega festive discount offers that typically are a big attraction for buyers during the festive season, the reduction in interest rates and easy availability of ready-to-move-in affordable homes are likely to be the big drivers of demand during the festive season this year.
Mr. Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder and Chairman – Signature Global India Pvt. Ltd. said, “There is a boost in investment decision during the festive season and most of the property purchase is also done during this point of time. As festive season will likely to boon to the real estate sector and foremost it also helps in easy availability of affordable homes which helps customers to cater their needs on affordable prices with unique offers given by the builders.”