Be it the Reserve Bank of India’s fifth consecutive rate cut or the government’s Rs 20,000 crore stress fund for the realty space or the recent cut in the corporate tax rate-it is all about wooing the customer and uplifting the consumer sentiment. Apart from the efforts by the government, sellers, brokers and developers are leaving no stone unturned to lure the homebuyers this season.
Diwali 2019 is all about buyers. Developers are raining freebies and discounts to offload their unsold units as they are in a great pressure to create sales, lessen the inventory and get funds through customer advances.
Additionally, there is a huge supply of mid-income and affordable homes across all the major cities in the country as of now. Buyers clearly are in a dominant position to bargain hard and extract the best possible price.
No wonder, Diwali 2019 is the best time to buy house if you are contemplating to buy since a long time. Here are some the added advantage that buyers can expect during this festive season:
- Complete waivers on the Goods & Service Tax (GST) and stamp duty
- Discount up to 15 to 30 percent on basic selling price
- Cash discount on per square feet price like a discount of Rs. 200 on the brochure rate of Rs 4,000/sq ft, which ultimately amounts to about Rs. 2 lakh in a 1000 sq ft apartment.
- Complimentary modular kitchens, electronic appliances
- Freebies such as club membership, gold coins, iPhones which also can be exchanged monetarily if buyers bargain hard
- Complimentary home décor schemes
- Assured rents of projects that are yet to be delivered
So, who is offering what this festive season?
Eros Group is offering a 20:20 payment plan with free power back-up, open car parking, modular kitchen, one-year maintenance and community membership along with wardrobes in each bedroom, ceiling fans, chimney, power backup and lease rent.
NCR-based Mahagun Group is offering a GST waiver, free car parking, modular kitchen and hotel or club membership on some of its projects as Diwali 2019 offer.
Spectrum Metro has organised a lucky draw where a buyer gets a chance to win a Mercedes Benz along with an assured gift up to Rs 1 lakh on every booking.
Mumbai-based Spenta Corporation Pvt is offering assured rent for projects that are to be delivered by 2022. An assured rent of Rs 50,000 on a 2BHK and Rs 70,000 on a 3BHK are being offered to buyers each month until they receive keys to their home.
SG Estates and Saya Group are offering possession-linked payment plans, which allows buyers to book a unit at just a fraction of the cost.
Avanta Business Center has launched a special offer wherein the company will waive two months’ rent provided a customer books office space for a year. This effectively means a customer pays rent only for 10 months.
Aditya Developers is offering ready-to-move-in flats at a discount of 15 percent and rentals up to Rs 25,000 per month on a 3 BHK unit.
Bhutani Infra is offering premium electronic gadgets with every booking. This includes iPhone, iPad and LED TV.
Read on for more real estate trends.