Earlier festivals in 2014 may spur realty activity, experts say
The monsoon season generally underscores a period of slow realty activity, but that perception is apparently set to change in 2014; thanks largely to the fact that some of India’s major festivals are falling earlier than usual this year.
In the wake of earlier festivals, realty developers have started announcing attractive discounts and offers to cater to the pent-up demand for housing. As such, with the conventionally-slow monsoon market set for acceleration this year, experts are of the opinion that the monsoon months unfold a good period for potential home-buyers and investors to purchase property.
Since the festive season is deemed an auspicious period for making important purchases which involve huge investments, experts are projecting that the earlier-than-usual festive season this year may spur the activity in the real estate sector; marking a noteworthy turning point for the realty scenario on the whole.
To entice the investors with attractive deals, realty developers are offering a number of promotional schemes for this year’s festive season, which has already commenced with Ganesh Chaturthi and will stretch till the end of the year. The schemes being offered by developers range from free parking spaces to payment of home-loan interests by developers till the possession of property.
However, urging the homebuyers and investors to “not get carried away” by the developer’s promotional offers, online property portal Commonfloor.com co-founder and CEO Sumit Jain said: “While it is still too early to gauge the offers, it is also premature to expect many freebies.”
Source – Hindustan Times
CommonFloor, Experts, Festive season, free parking spaces, Ganesh Chaturthi, huge investments, Investors, real estate investors, Realty developers, Sumit Jain
