Will heavenly intervention move the markets?
Ayear in which the realty market has been largely down, t he Navratra, which began on October 13, brings a ray of hope as this period is considered auspicious for those buying property. Hindus believe that striking big deals, purchasing properties and launching new projects doubles profits now. The real estate sector is likely to look up with property buyers now hoping to cash in on the season’s ‘luck’ factor.
The Navratra is dedicated to the worship of goddess Durga and her nine manifestations – Shailputri, Brahmacharini, Chandraghanta, Kushmanda, Skandmata, Katyayani, Kalratri, Mahagauri and Siddhidatri. The festival season starts on the first day of the waxing moon of the Hindu calendar month of ashvin in the Hindu season of sharad.
Four Navratras are celebrated in a year. The first is the vasant Navratra that is in the Hindu calendar month of chaitra (March-April). The second is ashaad Navratra in June-July. The third is sharad Navratra, in September-October and the fourth is paush Navratra that falls in December or January. The ongoing sharad Navratra is the most important and is known as mahanavratra. The nine- day auspicious phase divided into three- day sets during which t he goddess i s propitiated i n her three forms of Durga, Lakshmi and Saraswati. It is believed that Durga destroys impurities, Lakshmi bestows spirituality and worldly wealth, while Saraswati bestows knowledge and wisdom.
“The belief is that anything new started now or purchases made would be lucky and beneficial,” says priest Kuldip Sharma of Gopal mandir, Khan market.
Real estate builders have rolled out various schemes this festive season, giving away white goods and paying stamp duty for buyers