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City Beat: Positive Buyer Sentiment Turns Ahmedabad Into Zero-Negotiation Market For 3 Months [Video]

City Beat: Positive Buyer Sentiment Turns Ahmedabad Into Zero-Negotiation Market For 3 Months [Video]

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Today, we talk about Gujarat's economic and industrial hub Ahmedabad and the latest developments that will impact the real estate in this city.

In a one-of-its-kind development, the rise in home buying across Ahmedabad has turned the city into a “zero-negotiations market” for home buyers for the coming three months. This would mean that developers, against the general practice, will not offer any discounts or deals to home buyers as the festival of Diwali approaches. Given the positive sentiment, we are not likely to see offers like “buy two, get one plot free,” “two-wheelers for on-the-spot bookings” and discounts as high as 25 per cent.

In another development that showcases positive buyer sentiment, there has been a rise in demand for home loans in Gujarat. The state, according to a report by the State Level Bankers' Committee, has witnessed a rise of 28 per cent over last year in the number of home loan beneficiaries. The report says that fresh loans worth Rs 9,616 crore were granted to 82,332 beneficiaries in 2015-16.

Meanwhile, another development that hints at latent demand for housing units in Gujarat, the findings of the Union government's Sample Registration System-Baseline Survey, 2014, has revealed that more than 85 per cent of families in the state live in one-room or two-room houses. This is attributed to the little attention that had apparently been paid to affordable housing by the government so far. Now, according to experts, a thrust on affordable housing in the state should change the picture completely.

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