Gudi Padwa is considered one of the most auspicious days of the year to buy a new home, and real estate developers are cashing in on the opportunity. This year’s baits include exemption from stamp duty, gold and hard cash benefits, and even international trips. In the bleakness the real estate sector has experienced in recent times, such offers glimmer even brighter.
Offers include no stamp duty, gold up to Rs 5 lakh (by the Dosti group) and even zero GST (Runwal). Then there are the more creative ones, such as a Harley Davidson motorcycle (offered by Aayush Poornima) and an all-expenses-paid trip to Europe (by Spenta Corporation). There are even offers of a modular kitchen and picking up the tab for any interior work.
“Property sales tend to spike up during festivals and builders align various offers, schemes and discounts with them to encourage this brief phenomenon,” says Anuj Puri, chairman, Anarock Property Consultants.
However, an upswing in sales is more likely to be due to the cut in GST and other policy changes, rather than freebies thrown in to sweeten the deal.
“Policy changes announced in the Budget, as well as the recent cut in the GST rates will further enhance numbers of home sales. Although impending elections could lend a speculative mood, largely we will see good sales numbers,” says Ashok Mohanani, vicepresident of NAREDCO Maharashtra.