All set for that big buy?

All set for that big buy?

All set for that big buy?

At least 72 per cent of prop-erty seekers confirm that they are likely to make a purchase this season. From the developers' perspective, 59 pc anticipate the market to boost between 5 pc and 20 pc. At least 38 pc developers are introduc­ing new projects this season. These are the figures that a re­cent survey by makaan.com, an online real estate service sug­gest.

The study conducted in met-ros and Tier II cities, seeks to ad­dress questions on whether the real estate market will experi­ence a surge in both property buying and selling, starting Deepavali.

The study, titled FestiveReal-ity, says that 80 pc home buyers are looking forward to attrac­tive offers this year. Singing the same tune, 64 pc national devel­opers have confirmed that they are introducing perks on their projects.

Other highlights

Amongst all cities, Pune tops the charts with 84 per cent buy­ers looking forward to attractive offers. Mumbai and Delhi fol­low the city with 80 per cent and 78 per cent of property seekers expecting perks, re­spectively.

With 80 per cent each, real­tors from Hyderabad and Pune have shown the maximum incli­nation towards offering free-bies this year.

Nationally, 45 pc buyers feel that projects/options tagged with cash discounts, would be their first preference. On the contrary, 19 pc are not interest­ed in any kind of freebies. For them, other factors like loca­tion etc matter more.

For 15 pc parking facility and club membership along with the ideal house, is enough for closing a deal.

Another 14 pc would prefer fully furnished homes over any other freebie.

Across cities, 59 pc realtors feel that cash discounts are the perfect freebie and can attract maximum property seekers.

Another 13 pc feel that buy­ers give a higher preference to property options that are fully furnished.

Looking Confident

Over the last few months, prop­erty seekers have been apply­ing the wait and watch ap­proach, but this festive season they look more confident, as a majority are ready for making a property purchase. On the same hand, developers seem to have sensed this trend and are hoping that property transac­tions would go up significantly this year.

The level is varying from city to city, but one cannot deny the fact that positive sentiments are back considerably, both among seekers and realtors.

Practically Superstitious

The survey also called Indian home buyers "practically super­stitious".

Participants who were asked why they were choosing to buy a house around the festive sea­son, revealed that they were in­vesting during this period be­cause of the plethora of property options available at this time of the year, and also owing to the "good fortune" it brings.

At least 32 pc of respondents think that the festive season is an auspicious period to make a high value purchase. Hyder­abad, with 43 pc, tops the charts when it comes to seekers who consider buying property around this time as auspicious. Delhi and Bangalore follow this trend with 39 pc believers each, according to the survey.

Ready to move in homes

With developers not able to de­liver projects within the stipulat­ed time period, seekers today are taking a more cautious ap­proach (when it comes to mak­ing a property purchase).

Buyers are giving their first preference to a ready to move in home, even if it is by a moder­ately known developer.

At least 39 pc national seek­ers give their first preference to a ready to move in home from a moderately known developer.

Last Updated: Wed Aug 07 2013

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