Realty developers offer discounts to push sales this festive season
In an evident attempt to push property sales during the forthcoming festive season this year, realty developers are offering real festive discounts after a gap of nearly two years.
According to analysts’ projections, the period between October and December 2014 will likely garner sales of at least 60,000 units across seven major cities of India. The projected figure underscores almost a two-fold increase over the sales recorded in seven big cities in 2012 and 2013, when realty developers were hit by a slowdown.
In anticipation of increased sales during the festive season, a number of realty developers have already started slashing the costs of their properties by 7 percent to 15 percent across major cities. The highest portions of these price markdowns are apparently being offered in the Delhi-NCR region and Mumbai.
Previously, in an effort to entice customers to purchase property, several developers announced freebies in the name of free vacations, gold coins, motorcycles, and modular kitchens.
Meanwhile, noting that a good festive season can contribute 30-40 percent to the total property sales in 2014, Ashutosh Limaye – JLL India’s head of research & real estate intelligence service – said: “This time, the festival season will see more activity and sales. The sentiments are positive; enquiries have gone up substantially.”
Source – Business Standard
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