HT Estates

Have festive schemes made the realty business a buyer’s market

- Siva Krishnan letters@hindustant­imes.com

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

monetary benefit.

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