Developers Ring In Festive Season With Bumper Offers. Are You Game?
The festive season is one of the most awaited times of the year when up for grabs are deals that make it a win-win situation for both developers and homebuyers. This year, too, developers are pinning their hopes on the upcoming festive season to attract homebuyers back to the market, by showcasing offers that start from tax waivers to free parking, iPhones and cars, etc. This could be a good time for small-budget investors, too, as developers are offering their current inventory at a fraction of the total cost of the apartment, along with offering added benefits and advantages.
“The festival season begins from Ganesh Chaturthi and lasts till Diwali. It's considered the most auspicious time to invest. It is the time when developers offer many schemes and freebies to attract buyers. On the other hand, buyers consider the festival season as an auspicious time to own a property,” explains Uddhav Poddar, managing director, Bhumika Group.
Here’s a look at some of the most attractive deals available for you:
GST waiver: Developers in the national capital region, especially in Noida Extension, have waived the goods and services tax on property purchases, which otherwise adds an additional five per cent burden on property purchases. Mahagun Group is offering this deal on its project in Noida. Gaur Group has also announced free registry for one of its project.
Discount on down payment: Developers such as SG Estates and Saya Group are offering possession-linked payment plans, which allows buyers to book a unit at just a fraction of the cost. While Saya Group is allowing booking at 30 per cent property value, the remaining amount could be paid at the time of receiving occupancy certificate and possession. SG Estates has reduced the booking amount to Rs 1 lakh for its ready-to-move projects.
Assured gift on booking: To attract buyers, some developers such as Gaur Group, Gulshan Homz and Bhutani Group, are offering freebies that include a home with furnishings such as modular kitchen, appliances, furniture, etc. Some are even offering an iPhone and even a foreign travel package, etc.
Gold coins: Buyers looking for premium offers, can also consider gold coin offers launched by Bhumika Group, Gaur Group and County Group on each booking. Gold coins have remained one of the favourite freebies of the buyer due to its premium value.
Home Utsav: Housing.com has collaborated with several developers and channel partners to bring Home Utsav 2019. Homebuyers can avail of cash discounts, gifts and best prices during the month-long affair.
However, while discount shopping, here are some tips you should follow:
- Don’t rush for freebies. Prioritise your requirements.
- Free car parking, modular kitchen, free maintenance cost, stamp duty and registration charges waiver, are some of the offers that you should look out for.
- Don't fall for unrealistic festive offers. Properties in certain markets are already available at a discounted price. If the builder is touting the deal as a 'limited offer', be aware that after the festive season, the benefits would remain almost same or will be translated into some other offer.
- Understand whether you are really saving big with the deal. The overall cost of the freebie is included in the cost of the home. It is the buyer who needs to decide which deal or offer suits them the most.