Realty developers woo buyers with gifts, discounts this festive season

Written by Preeti Parashar | Chandigarh | Updated: Oct 31 2010, 03:28am hrs
In order to spur growth and attract buyers this festive season, real estate developers are offering substantial discounts and gifts. With various developers launching new schemes and announcing attractive prizes on purchase of a house, the sector is expected to log better sales. As per market experts, sales get a boost of about 10-15% on an average during the festive season.

Rohtas Goel, chairman and managing director, Omaxe said, Festive season is considered to be most auspicious for investment in real estate, influenced by the Indian mythology. Over the years, we have witnessed that the peak festive months of October and November drive maximum sales for realty projects. We are expecting an increase of 15-20% in sales across all our projects during the forthcoming festive season. Adding further, This year we have introduced a subvention scheme for the first time in our project Royal Residency, Ludhiana wherein a buyer needs to pay only 20% at the time of booking and balance in easy installments spread over 15 to 20 years. The EMIs will start after 18 months. This is a unique scheme for limited period where the customer has to pay only Rs 7.14 lakh to buy a 3 BHK apartment in this upcoming township. Also on booking of Flat/Villa in Omaxe Riviera, Rudrapur one can win gifts like LCD, 1.5 ton AC and a chance to win car, motorcycle, scooty and refrigerator.

With more people investing in a home during Navratras and Diwali offers like cash prizes, heavy discounts, foreign trips etc are common amongst realty developers. Ravi Saund, head business development, CHD Developers shared that the third phase of their project in GurgaonAvenue 71 will be launched for the customers this festival season. Further revving up the festivities we are offering a discount of 10 % on the purchase of property during this season. With the success of Avenue 71 we plan to launch two more residential projects by the end of this year.

On the other hand Paramount group of companies is offering a 22 inches LCD on every booking. To celebrate the festival season, almost every company floats special offers with all the products whether big or small. We have also decided to celebrate the coming festive season by offering LCD to all our clients who book a flat in any of our projects during this period, said Ashwani Prakash, executive director, Paramount group.

Toeing the same line developers in Raj Nagar Extension Developers Association are also churning out gifts like white goods on first 100 bookings, flat Rs 50,000 off on first 50 bookings and assured return for eight months etc.

Paras Buildtech's vice president sales and marketing Harmit Chawla said, Our buyers of first 50 flats will get a 42 inch Plasma TV. Though sales have been good this year we believe that such offers not only help boost sales but bring buyer closer to the developer. Delivery and quality of product is the first thing that matters but it cannot be denied that festival offers add value to companys reputation.