The real estate sector had a fantastic run post the pandemic era. The low interest rate regime gave a much needed fillip to the sector keeping the sales at its peak. But now with the exhaustion in pent-up demand, the relentless hike in the interest rates and the increasing property prices are softening the demand to a certain extent. The recent pause in the repo rate hike by RBI has been a breather for the housing sector which is now looking forward to the auspicious occasion of Akshaya Tritiya to keep the sales momentum going.
Real Estate Industry players discussed their Housing Sales outlook during Akshaya Tritiya with Team Estrade. Following are their views.
Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty said, “Akshaya Tritiya is one of the most holy and auspicious days celebrated by the Hindus across the country. As per common belief, buying gold and properties on this day brings prosperity and wealth in the future. Therefore it plays a vital role for the real estate industry as we can witness a certain spike in sales. Developers too come out with various offers that encourage the homebuyers to fulfill their dream of buying a home. We are optimistic that the recent unchanged repo rate will improve the market sentiments and this auspicious occasion will give a much-needed positivity that the real estate sector needs.”
Rajat Rastogi, Executive Director, Runwal Group said, “Festive times always bring about a positive sentiment in consumers which is visible in their home buying as well. Akshaya Tritiya is one such occasion which usually leads to a surge in home purchases. This year, we are providing various festive offers along with Flexi Payment Plans for our projects. The offers have been tailor-made to suit home buyer aspirations during this auspicious occasion. We have been experiencing a steady demand across our projects and we are certain of beginning the FY on a high note with robust sales volumes.”
Deepak Nair – Head, Marketing, JP Infra Mumbai Private Limited said, “This year’s Akshaya Tritiya is going to be more special as developers have come forward with improved customer-centric offerings considering the aspirations of the homebuyers. Home buyers wait for this day to make their home purchase as it is considered to bring good fortune and prosperity. Developers too come out with various offers which the customers can take benefit of, as it makes for quite a sizeable amount of savings and reduces his/her burden. We hope that the positive homebuyer sentiment in the past few quarters coupled with offers and discounts from developers will help to sustain the momentum this Akshaya Tritiya as well.”
For their project Labdhi Gardens at Neral, the developer is running a campaign ‘Munafe ka Mahina’ where they are providing 1 BHK apartments at an all inclusive price of Rs. 25.99 lacs*. To ease the burden of the homebuyer, they are offering either a home loan at 5.99% or a fully furnished home*. The buyer will also get 10gm gold* if he books a flat on Akshaya Tritiya.
For their luxury project Labdhi Sea Breeze at Wadala, Labdhi Lifestyle is running a campaign ‘Last Few Units Left’ where they are providing 2 BHK apartments at an all inclusive price of Rs. 1.62 crore. To ease the burden of the homebuyer, the developer is also offering a flexi-payment plan of 10:80:10. As a part of the Akshaya Tritiya Offer, an homebuyer can avail either 75 gm Gold Jewellery or a Fully Furnished Home.
“This Akshaya Tritiya, we look forward to providing an attractive value proposition to all our customers buying their dream home. Festive seasons and the real estate industry are always abuzz with activities — new launches, offers, benefits, attractive payment schemes, etc and Akshaya Tritiya is one such auspicious occasion. Today, customers want to experience luxury-backed homes with exclusive amenities and facilities. Therefore, we feel that this is the best time to buy a property with exclusive deals and promotions from developers along with flexible payment options,” says Kairav Shah, Chief Sales Officer, Labdhi Lifestyle Limited.
Samyak Jain, Director, Siddha Group said, “Festivals such as Akshaya Tritiya are always considered auspicious for home buying and the past records too have shown that sales on this auspicious day in Mumbai have always witnessed an uptick compared to the rest of the year. Going by the trend, we are expecting a surge in sales this year, too. We at Siddha Group are offering our customers discounts on the pricing that could help them save upto Rs. 10 lakhs and this will be a limited period offer.”
Himanshu Jain, VP – Sales, Marketing & CRM – Satellite Developers Pvt. Ltd (SDPL) said, “The real estate sector relies heavily on auspicious occasions like Akshaya Tritiya which leads to enhanced buyer activity and property sales. This year, as a part of our green initiative, we are providing our customers an electric bike on every booking. The demand for boosting sustainability is increasing rapidly in real estate. The initiatives being taken, and the investments being done to spur EV culture in India are likely to benefit the Indian real estate sector. We have always been in the forefront for working towards a sustainable future. This is the best buying opportunity for the buyers to buy their dream home and experience the best-in-class lifestyle.”
