July-August is no more a lean period in the Indian real estate sector. NCR realty developers and builders are raining freebies and discounts this year to woo the home buyers like never before.
Traditionally, June to Septemeber is considered a lean period when it comes to real estate market. However, 2018 is witnessing an unusual marketing and sale activity by the real estate players, especially in the NCR.
Thanks to RERA, buyers are slowly and subtly gaining confidence to invest in properties once again. And NCR developers seem to eager to tap the trend at the fullest. More than 18 developers of the NCR region, including DLF, Vipul, Godrej, ATS, Prateek, Supertech, Gaurs, etc., are running full-page ads in leading newspapers regarding monsoon offers for buyers.
Compulsion To Reduce Inventory:
It is an upswing housing sale in the last quarter of FY18 that has pushed the marketing momentum in the rainy season this year for good. Plus, the slump for past few years has led to huge stock which the developers are now in a rush to dispose off.
Instead of paying tax to the government on more than one-year-old inventory, the fund-starved developers reportedly prefer to pass on the benefits to buyers and generate cash flow.
Early Bird Benefit:
Active marketing activities in these months will undoubtedly help the developers gain some foothold in the market ahead of the festive season. As the marketing activity gains further momentum with higher allocation for ad budget during the festive season, real estate experts expect sales to further pick up.
What’s On The Plate
To woo the home-buyers, NCR realty developers are not only offering heavy discounts but are also offering freebies like free car parking, free modular kitchen, free power back-up, EEC etc. Like, Prateek Group is reportedly offering no EMI till possession homes with no charges for IDC, PLC, club membership, car parking and freehold conversion, besides offering a free modular kitchen, power back-up, EEC etc.
In its Diwali Se Pehle Diwali offer, Gaur Group is offering multiple waivers on GST, club membership, car parking, floor PLC, power back-up installation etc, besides a free semi-modular kitchen, AC, TV, lease rent and free maintenance for six months.