Buying house? Pay advance and get up to 25% concession
An HR executive working with a multinational company says that a 3BHK flat in a premium housing colony cost Rs 50 lakh. He also mentioned that the builders had pointed out the same amount for 2BHK three years ago but now at the same price they are offering a 3BHK apartment. He also added that this is the best time to purchase the flat. If the customers have money in their pockets, the builders are ready to welcome buyers with concession. The builders are ready to offer discount up to 25 percent if buyers are ready to give payment within 2 days.
A leading developer says that the economic slowdownwith political imbalance is responsible for offering discount. This situation may change after the declaration of election result. An upcoming residential complex on the SP Ring Road near new Chandkheda in Ahmedabad is priced at 45 lakh for a 2BHK flat. The developers are ready to give concession of around 22% on paying instant cash. Same situation is of the resale market. A 185 sq yard flat in a posh tower in Anandnagar was priced at Rs 80 lakh, when asked for discount the developers the ready to give concession of 12 lakh in the condition of paying full payment within 2 days.
An insider mentioned that the trend of downfall started from last 2 years when sales started slowing down due to rising prices.
Mr. Yogesh Bhavsar, president of Gujarat Institute of Housing and Estate Developers (GIHED) says that some developers are offering big discounts which will depend on the condition developers who have holding capacity will never offer discounts and the rest of developers have only single choice to give discount.
Source: The Times of India
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