1. From car to iPhone 7 with booking, festive offers galore to attract home buyers; adopt caution while taking the bait

From car to iPhone 7 with booking, festive offers galore to attract home buyers; adopt caution while taking the bait

From the latest Apple iPhone to gold coin and a new car, developers across the country are offering a wide array of deals this festive season to lure home buyers and come out of the slump that continues to hit the real estate sector.

By: | New Delhi | Published: October 7, 2016 3:05 PM
Union labour ministry, EPFO, ETFS From the latest Apple iPhone to gold coin and a new car, developers across the country are offering a wide array of deals this festive season to lure home buyers. (Reuters)

From the latest Apple iPhone to gold coin and a new car, developers across the country are offering a wide array of deals this festive season to lure home buyers and come out of the slump that continues to hit the real estate sector. Developers are touting this as one of the best time to go for property purchases as the festive season is considered auspicious and the deals on offer are not witnessed throughout the year.

As part of festive deals, ABA Corp is offering Apple iPhone 7 for its booking in Cleo County Sector 121 Noida. Similarly, Prateek group is also offering the new Apple iPhone with every booking for Prateek Edifice and Stylome in Noida sector 107 and 45 respectively, along with gift vouchers for rest of its projects – Carnesia, Paeonia and Grand City. Gaursons Group is offering deals that include no registry charges, no service tax (on select units), 21 assured gifts and customised payment plan valid for its projects in Gaur City and Gaur Saundaryam in Greater Noida West, Gaur Sports Wood in Sector -79, Noida and Guar Cascades in Raj Nagar Extension.

AS Sivaramakrishnan, head, residential services- India, CBRE South Asia Pvt said, “The festival season, which is considered an auspicious time to invest in real estate, means developers are packaging their projects with various offers to help boost sales. While these offers can be very attractive, our advise to potential home buyers is that before investing in a project, one should do all the due diligence required.”

Keeping in mind home buyers’ perspective, there are many developers who are offering deals suiting needs of the consumers like – free modular kitchens, RO facilities, and customised and flexible payment plans. Delhi-based KV developers has a scheme called ‘Khushiyon Ka Tyohaar Ghar Ke Sath Lijiye Car’. This scheme offers a car free along with a house during this festival of happiness, which will continue till October 31, for the first 50 bookings and assured gifts on every booking.

Mumbai developers are also not lagging behind in the festive offers to boost sales and attract home buyers. Rusomjee Group is rolling out offers for their marquee properties across Mumbai. Confirming this, Kaizad Hateria, brand custodian & chief customer delight officer, Rustomjee Group said, “We are offering discounts and flexible payment plans for Rustomjee Seasons, a residential project located in Bandra and Rustomjee Paramount in Bandra-Khar. The flexible payment plans are as low as 5 per cent for home buyers. Offers like book your apartment by paying 5 per cent and the rest of the payment can be made in flexible instalments; are being specially offered to the customers during the ongoing festive season.”

Apart from attractive pricing, Rustomjee Urbania in Thane, has a scheme where one can book 2BHK apartments at Aurelia. Then buyer will be exempted from extra floor rise cost.

However, consumers need to be cautious while going for a deal and do their research well. They should avoid projects which are immensely delayed. Samantak Das, chief economist & national director – research, Knight Frank India lists out what consumers need to be careful about when offered such attractive deals. “Festive season offers usually comprise of waiver of stamp duty and registration charges, no pre-EMI contracts, free partial fit-outs and several other flexible payment schemes. Since festivals are considered to be an auspicious period for investing, consumers get attracted by these lucrative offers. However, instead of going ahead with a deal simply on the basis of these offers, consumers must ensure that they conduct due diligence on the project and developer in order to make an informed choice,” Das said. He further added that it is important to choose trusted builders who are known for delivering on promises as well as do a thorough check on the offers and paperwork before booking the flat.

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