THIS NAVRATRAS GET SPECIAL FOR NCR DEVELOPERS
Navratra, 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. Apart from this strategy, most developers believe in launching new projects due to religious beliefs and even because of positive market sentiments.
This year again, the real estate developers did not leave any stones unturned as they had much to offer to the customers, from offers to discounts to unique payment plans and even project launches. This Navratra came out with a lot of success for the real estate market which had been going through a recovery phase. Mr. Arun Gupta, MD, Propertree real estate services, said, “In India, buyers generally prefer to buy properties during some auspicious occasion and Navratra being one of the most sacred time of Hindu religion, we usually witness greater queries and bookings from customers as compared to other days. This season we witnessed an increase in demand by approx. 30% with over 50 bookings we made in the nine days and the overall market performed very well”.
KPDK Buildtech, a venture of the renowned MKG Group had recently unveiled its maiden commercial project ‘Newtown Square’ to be developed at Sector 95 A, Gurgaon which is bang on main Pataudi road. The company had offered an inaugural discount of Rs. 800/ sq. ft. for the festive season which turned out to be a big hit amongst the customers with a total of 45 bookings made by the company during the festival. Mr. M. K. Gupta, Chairman, KPDK Buildtech said “Navratri’s is considered to be one of the most auspicious time for investment and real estate as a decision is one of the biggest choices of one’s lifetime. The sentiments of the public are very positive during this season and it is often observed that, customers specially wait for this time to come; as developers are also offering freebies during this period. This was our very first festival season with our first project. We are feeling extremely proud and excited the way these days turned up. The footfall was great and the conversion was even better”.
Mr. GV Shashidhar, CEO, Casohome.com states “The real estate sector, this festive season has begun extremely well with developers getting lots of bookings during the Navratris. The general performance of the market was quite good as compared to the last year’s with a marginal increase in the sales this season. We were able to cater to 34 bookings during the festival. One of the most significant reasons has been the uprising of tier 2 & 3 cities like Bhiwadi, Neemrana, Rishikesh, etc. where the top notch developers of the country have put a strong foot with quality projects at very promising prices. The market trend is now drifting as tier 1 cities are saturating and others are coming up. The festive season is still left with Diwali approaching and thus, another boost of sales will be observed”.
Urbainia Spaces, an establishing realty major in NCR also had a good Navratri with their maiden project Grid 1, located at Yamuna Expressway. Mr. S. J. Singh, CMD, Urbainia Spaces said “This festive season turned out to be very much as anticipated. The market sentiments were flowing positively in this quarter with the festive season around the corner. We achieved a decent number of 25 bookings during the Navratri and are hoping to continue the momentum with Diwali approaching”.
The Visava Group is an upcoming name in the Indian realty sector with plans to develop projects at Neemrana. The company has planned to invest over 600 crores in the region and is soon going to launch its maiden project ‘Visava City’ there only. Mr. Chaman Panwar, MD, The Visava Group said “The sector is on a sharp recovery phase with this festive season providing it with a major boost. We are all geared up to soon launch our maiden project, and already we have received about 25 queries during the Navratris. This has been highly motivating for us and we believe to receive an overwhelming response once we launch our project”.
With developers receiving good footfalls and maintaining high conversions throughout the season; the customers are now looking at Diwali to get the remaining best out of the market. Developers on the other hand are also getting ready to receive a good response.