Ahmedabad realtors look for new ways to entice buyers
Owing to declining sales and liquidity crunch scenario, real estate developers of Ahmedabad are looking for innovative offers to attract buyers.
Developers and promoters are offering schemes like free parking, interest free EMIs, free club membership, and varied discounts to buyers though they may not offer direct cash discounts.
Local developers in Ahmedabad have not leveraged their balance sheet to the extent the top realty players in other major cities have done.
This had led to enough “holding capacity” for the developers to sustain themselves in trying times. However, many of them, especially the new entrants, are now feeling the cash crunch.
Industry estimates cite a drop in real estate business in the city at anywhere around 20-30 per cent. The dip in business comes at a time when supply is constantly being added in residential property market, wherein almost 50,000 units are expected to come up in next three years.
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