Have festive schemes made the realty business a buyer’s market
The festive season is here again and the market is ripe for all prospective homebuyers, who plan to enter the market this season. Developersarecashinginonthis spirit to revivesales, disruptedby factors such as demonetisation, economic slowdown, and introduction of GST & RERA, among others. Addtothat, the NBFCcrisis which resulted in a liquidity squeeze.
Several developers across the country are doling out discounts and freebies to offload their unsold units.
Typically, it is expected that marketwill witness asignificant jump in sales during the festive seasonthatstarts fromthebeginning of Ganesh Chaturthi celebrations andgoesbeyondDiwali. buyerhastopaystampdutyplus registration charges.
While stamp duty varies from three percent to 10 percent depending on the state, registration charges are 1.1 percent if the propertyisworthoverRs25lakh. Along with GST, many developers are also waiving off stamp duty and registration charges, which mean further savings for the buyer.
IN THE CURRENT MARKET SCENARIO, BUYERS CAN GET A DISCOUNT OF 15-20 PERCENT OR MORE ON THE MARKETED PRICE