De­ci­pher­ing in­dian Real-es­tate

Realty Plus - - Contents -

would you buy a prop­erty this Di­wali? Are fes­tiv­i­ties the best time to buy a home? Do you get real dis­counts? The Realty+ Show Episode 8 on Repub­lic TV fea­tured a high-oc­tane de­bate high­light­ing fes­tive of­fers and its im­pact on con­sumers and de­vel­op­ers.

Fes­ti­vals in In­dia are all around the cor­ner. De­vel­op­ers across the city are of­fer­ing var­i­ous schemes and of­fers to po­ten­tial con­sumers. As de­bate mod­er­a­tor, amit b wad­hwani rightly men­tioned at the be­gin­ning of the show, real es­tate and fes­ti­vals go hand in hand, so should con­sumers buy real es­tate dur­ing fes­ti­vals?

dr. Batra clar­i­fied that there are dif­fer­ent of­fers from de­vel­op­ers dur­ing fes­tiv­i­ties, but there are con­di­tions that ap­ply with each of­fer and prod­uct. He ended his state­ment say­ing there are marginally bet­ter of­fers.

To the query about whether the prices go down dur­ing fes­tiv­i­ties, n. srid­har dis­agreed with the di­rect co-re­la­tion be­tween real es­tate and fes­ti­vals, but con­veyed “The sen­si­tiv­ity and sen­ti­ment of the buyer pro­pels the de­vel­oper to use that time frame, and when there are many cus­tomers ready to buy, the aus­pi­cious days of Ganesh Chaturthi, Di­wali or Dussehra adds value to it.”

Pre­sent­ing the con­sumers’ dilemma on whether there are any real dis­counts dur­ing fes­ti­vals, Pankaj Kapoor in con­sen­sus with srid­har clar­i­fied that it’s a psy­cho­log­i­cal in­er­tia and peo­ple want to buy a prop­erty when it’s aus­pi­cious. At this time, the hous­ing fi­nance com­pa­nies come with the best deals, and dis­count of­fers from de­vel­op­ers adds har­mony to the psy­che of the con­sumer.

su­nil Mishra opined that the real es­tate in­dus­try is sim­i­lar to other in­dus­tries like FMCG, and tele­com where in dur­ing the fes­tive time, there are lots of of­fers com­ing from the prod­uct providers. In agree­ment with dr. Batra and shrid­har, he added, “Fes­tive times are a cat­a­lyst or a de­ci­sion ac­cel­er­a­tor for peo­ple who are on the fence. But there are some real dis­counts on of­fer such as smart home so­lu­tions or a dis­count on park­ing.”

san­tosh nair ex­plained, “Fes­ti­vals play on the sen­ti­ment of con­sumers and it’s an aus­pi­cious pe­riod to buy a loan. How­ever, there are of­fers through­out the year and dur­ing the fes­tiv­i­ties, some fi­nancers give dis­counts on pro­cess­ing fees which makes it con­ducive for the cus­tomer to take a loan.”

san­jay Gupta summed it up by say­ing, “At the end of the day, it’s the con­sumers who have to know the de­tails of the of­fer and see through the hid­den agenda.”

shrid­har felt that when the pric­ing of the mar­ket is op­ti­mum, it’s a good time to buy. In the next 2-3 quar­ters where de­mand is pick­ing up, there will be new buy­ers. Cur­rently, real es­tate pric­ing is op­ti­mised and buy­ers will get good prod­uctswith good ameni­ties. Giv­ing his fi­nal thoughts, dr. Batra said that ev­ery­one has a dream to live in his own prop­erty and any­time is good to buy. As prices are marginally bet­ter, dur­ing this Di­wali, the first time buy­ers in the mar­ket will un­doubt­edly kick up the de­mand. Mishra ex­pressed, “As GDP and econ­omy are in­creas­ing, Di­wali be­ing an aus­pi­cious mo­ment, it’s a good time to buy.” nair hap­pily con­cluded that it’s go­ing to be Di­wali for the en­tire year and RERA has given great con­fi­dence to see more end buyer com­ing into the mar­ket. shrid­har said that in the next two quar­ters, it would give a great op­por­tu­nity for peo­ple to buy and they should op­ti­mise it this Di­wali.

wad­hwani con­cluded the ses­sion on an op­ti­mistic note say­ing, “I be­lieve real es­tate is to be bought with more of a sci­en­tific ap­proach and a more artis­tic way of un­der­stand­ing the sub­ject rather than just jump­ing on the band­wagon on a fes­ti­val day.”

points to con­sider when buy­ing prop­er­ties on OF­FER Per Square Feet Price Ameni­ties Price Fi­nanc­ing Scheme TYPES OF REAL ES­TATE DIS­COUNTS Ameni­ties Smart home so­lu­tions Dis­counts on park­ing








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