It is raining schemes! Festive season is the perfect time for enhancing sales for any business but more so real estate- the traditional Indian buyer continues to consider the navratras and Diwali as the most auspicious time to purchase his dream home. No wonder then, developers are all out to woo the buyer by offering attractive payment schemes, huge cash discounts and freebies and it is raining schemes! Add to that RBI governor’s surprise gift to the sector this Diwali, the mood is already upbeat with the announcement of interest rate cut on housing loans.
Therealtypaper gives you a lowdown on the festive offers this Diwali in Indian real estate
1Supertech Limited
Supertech Limited, has launched a ‘9 Days of Navratras – 9 EMIs free’ scheme on all the its projects across Noida, Greater Noida, Ghaziabad, Gurgaon, Meerut, Muradabad, Rudrapur, Haridwar and Bangalore. Says RK Arora, chairman, Supertech Limited, “Navratri time happens to be the most auspicious time for a buyer to invest in a property. Festivals are well connected to the emotions of the customers; thereby at this auspicious time – housing sales are expected to show improvement in the current market for a good revival. In the real estate sector, it is happening for the first time that a developer is offering a scheme wherein the customers can make a booking on any Supertech project during the Navratras and do not have to pay first 9 EMIs. The amount of these EMIs will be borne by Supertech. We hope our valuable customers who can take the maximum advantage out of it.”
2Wave Infratech
Wave Infratech has launched festive offers such as on every booking at Wave City Center (residential or commercial), customers would get a gift voucher worth Rs 1 lac from Tanishq. Similarly, for the Wave City township – on every booking, customers would get a gift voucher worth Rs 41,000. Says R.K. Panpalia, MD, Wave Infratech- “With the festive season around the corner, the real estate market is upbeat for revival. With renewed market sentiments, this is the perfect time for customers to consider making an investment in the real estate sector or finally booking their dream home. The festive season is always considered a good time for investments and the sale generally is very positive and upwards. This is the time when we prefer to offer something extra to our customers and expect to generate greater response for our offerings.”
3SARE
SARE homes have launched a nation-wide ‘Gold Rush’ scheme under which they would offer 5 Kg gold across their projects in addition to discounts to customers on paying the initial booking amount. Says Vineet Relia, managing director, SARE Homes- “While the country prepares for the upcoming festive season, the festivities seem to have started much earlier for the real estate sector. The overall mood among the buyers and the developers is upbeat thanks to the interest rate cut and the RBI’s revised risk weightage to increase the loan-to-value-ratio by 90. Such a move would help prospective buyers plan their home financing options better. We have also taken a conscious approach this festive season and are looking to revive the purchase sentiment through schemes and promotions.”
4Raheja group
Raheja group subvention schemes are available. Payment plans have been re-designed keeping in mind the ease and convenience of the customer. Says Navin Raheja, managing director Raheja group- “The residential market in Delhi NCR has bottomed out and it is a rare opportunity to get exciting discounts across projects. This is a time when exciting payment plans as well as freebies such as complimentary furnishing, a shop free with an apartment, bank subvention schemes, as well as attractive pricing are the norm, and are playing a very strong role in ensuring that clients are convinced on value for money products on offer. The market for Gurgaon’s luxury real estate market is already showing signs of significant revival with excellent schemes and options available.
5Ajnara India Ltd
Ajnara India Ltd is providing a 7-7-7 scheme where the customer needs to pay 7 percent of the property cost at the time of booking; gets Rs. 7 lakh discount and the unit is offered for possession in the next 7 months. Says Ashok Gupta, Ajnara India ltd, “The company is offering a 7-7-7 scheme this festive season, where it offers a discount of upto Rs. 7 lakhs and possession in next 7 months. To avail this benefit, homebuyers have to pay 7% of the property cost at the time of booking. This scheme is available for Ajnara Daffodil, Ajnara Gen X, Ajnara Integrity, Ajnara Le Garden, Ajnara Homes, Ajnara Ambrosia and Ajnara Panorama.”
6Gulshan Homz
For its project ‘Gulshan Ikebana’, Gulshan Homz if offering add-on goodies for ground floor and top floor units. A completely installed Modular kitchen with chimney will be provided to the ground floor flat buyer and completely installed Modular kitchen with chimney, and in addition to this 4 installed split A/C (brand- LG/Samsung 4 star rating) will be provided to a top floor flat buyer. Says Deepak Kapoor, president CREDAI-Western U.P. and director, Gulshan Homz, “This time of the year is expected to create heavy footfall as the customers are eagerly waiting to invest during the festive season. This time being considered auspicious, the demand for property is very high and thus, provokes the developers to offer unique schemes. We believe that providing add on goodies to a flat not only reduces certain monetary burden off the customers but also gives a superior look to the home. We are offering fully installed modular kitchen with chimney for Ground floor buyers and fully installed modular kitchen with chimney along with 4 installed split ACs for top floor buyers.
7Rudra Buildwell Pvt. Ltd.
NCR based Rudra Buildwell Pvt. Ltd. has come out with a special scheme for buyers who are interested in buying units that are 1,450 sq. ft. in size or above. As per the scheme, the company will provide the unit with a complete modular kitchen. This scheme will only be available at the time of 9 days of Navratris. Says Mukesh Khurana, of Rudra Buildwell “Navratris, the special nine days of Hindu calendar is a much awaited festive time for most. This is the time when buyers invest maximum in real estate and other assets. Customers in India have a general feeling that investing or buying some asset during this season is proved to be extremely lucky. For the real estate sector, this season is supposed to be the highest sales and revenue earner throughout the year. A very obvious reason is that, most developers offer heavy discounts and offer unique payment plans and schemes to lure the customers. Going ahead with this frame of mind, we are also coming out with our own festive season scheme for the customers. We hope that these nine days prove to be productive for the sector as well.
8Saya GroupThis festive season, Saya Group is offering 10:80:10, the No pre EMI scheme for its recently launched project ‘Saya Gold Avenue’ located at Ghaziabad.
According to Vikas Bhasin, MD, Saya Group, “Investing in property involves heavy duty fund management and allocation. Those buying a property on loan are under a double-edged sword, where high EMIs can sting hard. Thus, this move by RBI will provide the property buyers with reduced EMIs, thus reducing pressure on their pockets. We at Saya Group are providing new festive payment plan under a 10:80:10 scheme along with No Pre EMI clause on our project Saya Gold Avenue where one can pay 10% at the time of booking and 80% from bank funding and remaining 10% on offer of possession. The catch here is that, till offer of possession of unit, customers are not liable to pay the instalments to bank.”
9Shri Group“For every business, this is the perfect time to come out with something new in the market so as to generate the highest sales,” says Sudeep Agrawal, MD, Shri Group. Thus, festive season in India is very crucial with respect to enhancing sales and offering the best deals in the market. “We have also come out with a festive season scheme and two new payment plans this year for our new customers, for our project, ‘Shri Radha Sky Gardens’ located at Greater Noida West”. The company is offering scheme valid only for new buyers for top floor apartments of the project ‘Shri Radha Sky Gardens’. A customer interested for 2 BHK/2BHK + Puja units can take a discount of Rs. 90,000 or 3 ACs free of cost. Customers interested for 3 BHK units can take a discount of Rs. 1,20,000 or 4 ACs free of cost. The company has also come out with two new payment plans; special payment plan Rs. 3,200/- all-inclusive with dedicated open car parking and subvention payment plan Rs. 3,395/- all-inclusive with dedicated open car parking.
10JM HousingRealty major of NCR, JM Housing recently announced the offer of possession of its residential project ‘JM Aroma’, located at Sector 75 Noida. The company had successfully delivered ‘JM Orchid’ at Sector 76, Noida back in 2013. For this festive season, the company has come out with new payment plans for its projects ‘JM Florence’ and ‘JM Aroma’. A 30:70 festive payment plan for JM Aroma and 5:95 plan for JM Florence. “In India, buyers generally prefer to buy properties during some auspicious events and upcoming festive season commencing with Navratri is considered as one of the most holy times of Hindu calendar and we usually witness a greater footfall of customers as compared to other days. Keeping this in mind, this year we have launched two different schemes for our two projects. 30:70 payment plan for JM Aroma, where 30 percent of the amount is to be paid at the time of booking and rest on possession. Also, 5:95 payment plan with No EMI till offer of possession for JM Florence where 5 percent of the amount is to be paid at the time of booking”, avers Rupesh Gupta, Director, JM Housing.
11KV DevelopersKVD is organising an exclusive offer for its potential customers valid for the period 13 October to 11 November 2015. At the end of the festive month, the names of customers enrolling for bookings will be drawn through a lottery. The first winner will get a bumper prize of two Sedan. The next five winners will win a trip for a couple to a foreign location. Then next 10 winners will get home theater. The next 25 winners will receive gifts of electrical home appliances like TV, refrigerator, washing machine, microwave oven and more.Says Aman Agarwal, Director, KV Developers, “Festivals in India are not mere sentimental times but they do play an important part in country’s economy. While the real estate market across the country in the wait-and-watch mood, the festive season is likely to offer the much-needed fillip. It is right time to go ahead and seal the deal. The positive sentiment is all poised to peak in the festive season. As we look at the Indian economy today, overall sentiment has revived and financial confidence has returned to Indian household. Moreover, the huge rate cut by RBI has come as a pleasant surprise and has infused positive vibes in the realty market. In addition, the rate cuts at a time when the festival season is approaching, is bound to send positive sentiments in real estate market. We are confident this time market will gain momentum and sales would get traction up to 30 to 50 percent.”