Navratri is considered auspicious to buy new assets. With the onset of this festival, real estate developers also come up with their special offerings for buyers.
Navratra or Navratri is a nine-day festival celebrated across India with great zeal and vigour. It involves worshipping nine incarnations of Goddess Durga. In India Navratri is celebrated twice a year: Chaitra Navaratri normally falls in the month of March-April and Shradiya Navaratri is usually celebrated in the month of October or November.
This period is considered auspicious to buy new assets. With the onset of this festival, real estate developers also come up with their special offerings for buyers. Usually, developers offer discounts on property prices during this festival season. The offers, however, are generally for a limited period or on specific days. For example, a discount on the per square feet rate on the last two days of Navratra is a common practice. Developers also offer free gifts during this time. The commercial real estate fraternity remains quite upbeat about the festive season and looks forward to the start of new projects. Some developers start the construction of new malls, retail shops etc.
Banks also encourage property buying during the Navratras by offering several schemes. These schemes include lower interest rates, waiver on processing fees, and faster processing of the loan, etc.
These days are considered highly auspicious; purchasing made during this time is believed to bring good luck, opulence and wealth to the buyer. Especially the real estate sector sees a massive boom during these nine days.
However, despite the offers being lucrative, experts suggest that buyers should not fall for these and must conduct a thorough research before making a buying decision. Buying a property is an important decision in a buyer’s life and all required parameters such as builder reputation, location, specifications and etc should be checked.
Whatever be the case, the Navratra season is believed to be a good time to buy property and if you are looking to invest in property, then this may be the right time for you.
(By Pushpender Singh, Managing Director, JMS Buildtech)