Bas­ket of of­fer­ings

Of­fer­ings that will get the best re­sults this Navra­tra are those that trans­late into di­rect fi­nan­cial ben­e­fits, such as cash back of­fers, waived stamp duty and reg­is­tra­tion charges

HT Estates - - HTESTATES - Van­dana Ram­nani

Com­pared to the pre­vi­ous years, there’s not much noise around of­fers and dis­counts on realty projects dur­ing Navra­tra this year. While the im­pend­ing elec­tions could be a rea­son, the over­all eco­nomic en­vi­ron­ment, t oo, might be putting a damp­ener on things. As for project launches, there are too few of them with statis­tics show­ing their num­bers halv­ing as com­pared to last year’s 57,000 units. Most de­vel­op­ers this sea­son are launch­ing just about a new tower in an old project and nam­ing it dif­fer­ently - new wine in an old bot­tle! Free­bies, too, are sparse and in­clude a ` 50 per sq ft dis­count to at best a gold coin.

De­vel­op­ers are not risk­ing launch­ing new projects be­cause of the polls. They are con­cen­trat­ing on com­plet­ing ex­ist­ing projects and sell­ing units from the ex­ist­ing in­ven­to­ries.

“Tra­di­tion­ally, the fes­tive sea­son cat­alyzes a spurt i n res­i­den­tial prop­erty sales of be­tween 20 to 25%. How­ever, we ex­pect a rise of be­tween 10-15% this year, de­pend­ing on city and mi­cro-lo­ca­tion. The slow­down dy­nam­ics cur­rently rul­ing buyer sen­ti­ments will dampen but not ex­tin­guish the tra­di­tional fes­tive boost to res­i­den­tial sales,” points out San­thosh Ku­mar, CEO - Op­er­a­tions, JLL In­dia.

De­vel­op­ers are us­ing free­bies to off­set this dy­namic and th­ese of­fer­ings will cause some sales rip­ples. How­ever, what will get the best re­sults are those that trans­late into di­rect fi­nan­cial ben­e­fits, such as free park­ing, and waived stamp duty and reg­is­tra­tion charges, he adds.

De­vel­op­ers are launch­ing new pay­ment plans, cashback of­fers such as 5% cash back on a book­ing, gold coins, white goods etc this sea­son, says. Honey Katyal of In­vestors’ Clinic

Tra­di­tion­ally, prop­erty sales see an up­surge dur­ing Navra­tra, as mak­ing new in­vest­ments and pur­chases dur­ing this pe­riod are con­sid­ered aus­pi­cious. Com­pa­nies, in­clud­ing real es­tate de­vel­op­ers, come out with var­i­ous free­bies and dis­count of­fers to cap­i­talise on this in­creased sales ve­loc­ity.

“While a cus­tomer may base his/ her de­ci­sion on buy­ing low­value con­sumer durables based on fes­tive dis­counts and spe­cial of­fers, when it comes to buy­ing a house, fac­tors like cred­i­bil­ity of the de­vel­oper, lo­ca­tion of the project, ameni­ties pro­vided, con­struc­tion spec­i­fi­ca­tions be­come the key drivers for prop­erty se­lec­tion. Fes­tive dis­counts can speed up the de­ci­sion mak­ing process of a cus­tomer but is un­likely to af­fect his/ her choice of de­vel­oper and project,” says P Sa­hel, vice chair­man, Lo­tus Greens.

The Ma­h­a­gun Group is of­fer­ing its buy­ers a 10 gm gold coin on ev­ery book­ing made at its projects: Ma­h­a­gun Mantra- 1 ( G r e at e r N o i d a We s t ) a n d Ma­h­a­gun Mantra- 2 ( Greater Noida West).

Gaur­sons is of­fer­ing dif­fer­ent pay­ment plans for most of its projects in Noida Ex­ten­sion and along Ya­muna Ex­press­way. “For all our projects in Noida Ex­ten­sion, Gaur Ya­muna City and Saun­daryam we are of­fer­ing dif­fer­ent plans such as the 40: 60 plan or the 30: 30: 40 plan de­pend­ing on the stage of con­struc­tion of the project. As far as new launches go, we have sold 1600 units of our newly launched 14th Av­enue project that is part of Gaur City 2, Noida Ex­ten­sion. Dur­ing Navra­tra, we will be launch­ing new tow­ers in 14th Av­enue (ap­prox­i­mately around 600 units). In Gaur City 1 we have launched one tower as part of First Av­enue, in Saun­daryam we are launch­ing three tow­ers and in Ya­muna City we are launch­ing six new tow­ers that will have 1000 units. We are also plan­ning to launch Gaur suites or com­mer­cial suites of 500 sq ft each for ` 30 lakh each,” re­veals Manoj Gaur, MD, Gaur­sons.

The group also in­tends of­fer­ing pos­ses­sion of 2500 units in Noida Ex­ten­sion from May on­wards and 6000 units by next year.

Jaypee Greens is giv­ing an ad­di­tional 1% dis­count on book­ing and launch­ing its first com- mer­cial of­fer­ing in Wish­town in Sec­tor 134 this week­end.

As­sotech Realty has launched a new tower on con­struc­tion linked plan in its busi­ness park project, As­sotech Busi­ness Cresterra, that comes with at­trac­tive pay­ment plans. “

KV De­vel­op­ers is of­fer­ing a cash dis­count of ` 50 per sq ft dur­ing the Navra­tra. “We have got a good re­sponse for the of­fer and ex­pect to at­tract more book­ings out of this in the days to come,” says Aman Agar­wal, direc­tor, KV De­vel­op­ers.

The Pra­teek group has an­nounced a 15:85 scheme for its two projects – Pra­teek Sty­lome and Pra­teek Wis­te­ria. As much as 15% of the amount is to be paid at the time of book­ing and the rest 85% on pos­ses­sion.


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