Prop­erty mar­kets to take a 16-day ‘break’

HT Estates - - HTESTATES - Arati Bhargava

The span of 16 days from Septem­ber 27 is the only one in the year when prop­erty trans­ac­tions are min­i­mal and vir­tu­ally shunned, es­pe­cially by the Hin­dus. The pe­riod known as pi­tra­paksh will end on Oc­to­ber 12 this year.

Pi­tra­paksh, based on the Hindu cal­en­dar, starts from the full moon day of bhadra­pad shukalpaksh and ends on amavasya (moon­less night) of ashvin kr­ish­na­paksh. This is a pe­riod of aus­ter­i­ties for the Hin­dus dur­ing which prayers are held, rit­u­als per­formed and do­na­tions made by fam­ily mem­bers and loved ones for de­parted souls. It is be­lieved that any good at­tained through these acts is trans­ferred to the de­parted soul and en­sures that the soul gains peace and lib­er­a­tion to be one with God. The de­parted soul in turn blesses the per­son who per­forms the prayers and rit­u­als on its be­half.

Most Hin­dus do not buy any­thing new or launch projects in this phase. As­so­ci­ated with prayers and thoughts for the dead, pi­tra­paksh is a time for piety. New busi­ness trans­ac­tions or pur­chases are put off and un­der­taken dur­ing the aus­pi­cious time of Navra­tra that be­gins when pi­tra­paksh ends. The same is true for land deals and prop­erty sales.

Ac­cord­ing t o real es­tate agents, peo­ple in­ter­ested in buy­ing prop­er­ties make en­quiries about selling and buy­ing prop­er­ties but they gen­er­ally wait till the pi­tra­paksh pe­riod ends to fi­nalise deals. There’s a fall in the num­ber of gen­eral prop­erty queries too, mak­ing it a vir­tual hol­i­day pe­riod for prop­erty deal­ers as hardly any se­ri­ous busi­ness gets done.

Sales dur­ing the 16-day pe­riod are gen­er­ally low, pick­ing up only at the on­set of the fes­tive sea­son, says a south Delhi-based prop­erty dealer. The ori­gin of pi­tra­paksh dates back to the epic pe­riod. Pi­tra means an­ces­tors and paksh stands for pe­riod. It is be­lieved that af­ter a per­son dies, the soul goes to pitralok, an area be­tween earth and heaven. Three gen­er­a­tions of souls of a per­son’s an­ces­tors live in pitralok. Af­ter death, when a soul goes to pitralok, the soul of the first gen­er­a­tion moves out of there. Prayers and good deeds per­formed for the sake of the soul dur­ing pi­tra­paksh helps the soul in its on­ward jour­ney to heaven.

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