Those looking to buy a house have something to cheer. Developers across country are coming up with various offers ranging from discounts to innovative structured payment plans to lure buyers in the dull real estate market.
Instead of launching new projects, builders are now focusing on completing their existing projects along with measures to boost sales amid slowdown. “Developers are giving flat discounts, statutory charges waivers like VAT, stamp duty and registration along with innovative structured payment plans and various other incentives,” Santhosh Kumar, CEO – operations & international director, JLL India said.
Residential real estate sector has been growing on a slow pace since the last couple of years owing to regulatory hurdles, delayed projects and high price. Experts feel that government’s reforms steps and initiatives in recent times has helped the sector, which is now showing signs of revival.
However, it will take a long way for real estate to rebound and come out of the woods. Home sales are expected to improve with an increase in demand and once the issues related to sector are resolved. The sector is expected to show further improvement with the appointment of regulatory authority next year under Real Estate (Regulation and Development) Act.
“The residential realty market is slowly picking up, with well-located projects by reputed developers seeing increasing demand. However, the momentum is still below expectations, and developers have reduced the supply pipeline in an effort to even out the demand-supply mismatch. This strategy is gaining results,” Santhosh Kumar further added.
In the current market scenario, realty investors are taking a well-researched decision on buying flats. Developers are tapping this and coming up with innovative and attractive schemes before the festive season
“Customised payment plans seem to be dominating among buyers and schemes that assure good rental returns have also caught the fancy of several developers,” Manish Sinha, Head of QuikrHomes, said.
QuikrHomes analysed the discounts/offering various residential real estate developers are offering in these top 8 cities
Realty developer Puravankara Projects has come up with a new scheme for its ready-to-move-in properties across cities including Bangalore, Chennai, Kochi and Coimbatore under Managed Residences Investment Plan (MRIP). The buyer of any of their ready-to-move-in property will get assured rentals for the next 7 years and free maintenance.
Bangalore-based Brigade group is giving “Free Bedroom Offer at no Extra Cost” in their Brigade Orchards project at Devanahalli. Investing in its Brigade Meadows Project could help with “Assured Rentals for 2 Years”.
Vaishnavi Group is offering Flexi-payment plan for their projects Vaishnavi Commune and Terraces. The flexi-payment plan includes subvention scheme, rental option, customised payment schedule.
Alpine Housing is offering “Pay 1 Lakh to Own your Dream Home and Nothing until Possession”
Yashasvi Group is offering 20:80 scheme for their luxury villas project Green Avenues on off Sarjapur Road.
Mahindra Lifespaces is offering “Save Up to Rs 3Lakhs and Flexible Payment plan of 30:40:30 scheme” in its project Windchimes at Bannerghatta Road
Dreamz GK in Bangalore is offering “Buy Flat & Get Free Farm Site (plot) worth Rs 4 Lakh” across their projects in Bangalore.
Paramount Golf Foreste at Sector Zeta-1 in Greater Noida is offering No Pre-EMI till possession along with assured rentals starting from Rs 8,000 per month.
Prateek Group’s Stylome project at Sector 45 Noida is offering free maintenance for one year.
Supertech Supernova’s Astralis offer – “Invest just once. Get a Lifetime of assured rental.” This includes 12% assured rentals till possession and 8 % till lifetime.
Central Park Flower Valley in Sector 32-33, South of Gurgaon, has attractive payment plans.
Aashiana The Centre Court project in Gurgaon has on offer “possession by January 2019 or 100% money back.
OliveHills in Hinjewadi, Pune, is offering flexible payment scheme along with 3 to 5 years of Interest Free EMIs.
“Buy a 2BHK for the Price of 1BHK” offer made by Roswalt Realty in their project Roswalt Heights, Chembur Mumbai.
Runwal Group is offering higher floors with no floor rise in their project Runwal Pearl on Ghodbunder Road.