An advantageous series of property discount scheme is in motion after a prolonged span of 2 years. Exclusive festival discount offers via WhatsApp text to the mobile users talks about the price cut by many-a brokers across plentiful cities ranging from 7 to 15% majorly in Delhi/NCR. And however, in the past free vacations, motorbikes, a gold coin and a modular kitchen in the hand of freebies were offered to the audience in order to persuade sales.
Property analysts and consultants are regarding a probable situation to deposit sales to a least of 60000 units in October–December phase across seven major cities which is fortunately recorded as almost double of 2012 & 2013 due to the fact that slowdown which had cause a strong attack to the developers then.
Sales are anticipated to soar up to 200000 units this year with a solidifying support of 30-40% by the festival season discounts. Whereas on the other hand annual sale of approximately 120000-140000 in the previous 2 years wherein festival season barely played a role in persuading customers for sale which truly reflects that the inquiries have risen substantially proving the impact of festival discounts leading to enhanced sales and activity, said Ashutosh Limaye, head (research & real estate intelligence service), JLL India.
Property analysts and consultants are regarding a probable situation to deposit sales to a least of 60000 units in October–December phase across seven major cities which is fortunately recorded as almost double of 2012 & 2013 due to the fact that slowdown which had cause a strong attack to the developers then.
Sales are anticipated to soar up to 200000 units this year with a solidifying support of 30-40% by the festival season discounts. Whereas on the other hand annual sale of approximately 120000-140000 in the previous 2 years wherein festival season barely played a role in persuading customers for sale which truly reflects that the inquiries have risen substantially proving the impact of festival discounts leading to enhanced sales and activity, said Ashutosh Limaye, head (research & real estate intelligence service), JLL India.
The brokers were providing 10-12% discount on the upfront price of flats, as stated by Supertech Chairman and Managing Director R K Arora. In regards to discounting philosophy, a broker in Noida proffers up to 10% on unit charges along with no transfer charges whereas in Gurgaon a variation of discounts is figured between a range of 7-10 per cent accordingly.
Housing prices might soar up from 5 to 8 or even 15 percent in various micro markets in this year lately. Abundance of discounts have been encountered when the prices are expected to hike as seen by the people tracking the sector, said Samantak Das, chief economist at property tracker Knight Frank India. He added, two parameters of having a backdrop of stable government combined with a positive and high expectation of swift decision making reforms that tend to a formation of a positive mentality in regards to sale and fresh launches of residential sector.
The sector has been engaged in struggling with the deteriorating sales and considerably higher inventory for about two years. Developers were undergoing a massive stress of funds along with an insufficient number of lenders willing to lend money to the sector.
An ideal market should typically hold an inventory of about eight months and however the inventory record in late June was registered as - Mumbai Metropolitan Region of 53 months, National Capital Region of 45 months, Hyderabad of 47 months, Pune of 23 months, Chennai of 26 months and Bangalore was listed with the least inventory of about 19 months, says research firm Liases Foras.
Housing prices might soar up from 5 to 8 or even 15 percent in various micro markets in this year lately. Abundance of discounts have been encountered when the prices are expected to hike as seen by the people tracking the sector, said Samantak Das, chief economist at property tracker Knight Frank India. He added, two parameters of having a backdrop of stable government combined with a positive and high expectation of swift decision making reforms that tend to a formation of a positive mentality in regards to sale and fresh launches of residential sector.
The sector has been engaged in struggling with the deteriorating sales and considerably higher inventory for about two years. Developers were undergoing a massive stress of funds along with an insufficient number of lenders willing to lend money to the sector.
An ideal market should typically hold an inventory of about eight months and however the inventory record in late June was registered as - Mumbai Metropolitan Region of 53 months, National Capital Region of 45 months, Hyderabad of 47 months, Pune of 23 months, Chennai of 26 months and Bangalore was listed with the least inventory of about 19 months, says research firm Liases Foras.
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