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Jan 21, 2014, 04.30 PM IST | Source: MakaanIQ

Is it the best time to buy your dream house?

Makaan.com analyses the trends in the property market and discusses whether it is the best time to buy one's dream house.

The festive season, even past Navaratra, will continue for another couple of months. Generally, the property market experiences a boost as realtors offer attractive festive deals to cut down the inventory. The festive season from October to March is the most auspicious time to buy houses in the Indian real estate market as the prices stand largely in support of the buyers.

Real estate companies, developers, builders and brokers try to offload their inventory during this time to avoid big permanent price cuts and make maximum sales.

But what do these schemes signify? What should the buyers expect? Makaan.com has listed the reasons and the offerings of buying a property during the festive season for the benefit of the home buyers.

Festive season is the best time to buy a house; Why?

During the ongoing festive season, buyers are flocking to buy some of the best housing deals in most of the localities. As per Makaan.com’s research on Homebuyers’ Expectations this Festive Season the overall mood among home buyers is upbeat with majority of them being optimistic about purchasing a property during the festive season.

The desire to finalise a property seems to be more intense this year as the buyers are looking forward to support from the developers. One-third of developers’ sales happen during the festive period that starts from October and goes on till March; but why is there such deep significance around buying a home during the festive season?

Is it only about the freebies and schemes that the developers offer? Or is there more to it? Let us understand the reasons behind the traditional trend:

  • Symbolizes security, prosperity and happiness
  • Period of high religious sentiment
  • Denotes putting down permanent roots as:
Diwali marks returning home of lord Ram
Ganesh Chaturthi marks the rebirth of lord Ganesha
Dussehra marks the victory of good over evil
Christmas marks the birth of Jesus

As a result:
The adults get a place for Golden Years
Children grow up in a secured environment

  • Best time to plan the purchase of second home
  • Higher disposable income as people save for the festivities
  • More loan options as banks also bring out offers
  • Developers’ support through offerings
Developers’ support through offerings:

Traditionally, these months see better property sales compared to the first five months of the financial year because they are considered auspicious for buying property. This year, the festive season offers in property market have increased considerably as the sector is experiencing high inventory levels with low sales throughout the country. Real estate companies are rushing in with cash discounts, freebies and schemes ahead of Diwali, a time that registers high volume of home sales in the country. 

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Property rates
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Mumbai
Capital Values Rate/Sq ft (INR)
Aajiwali
3000 - 5000
Ambernath
3000 - 5000
Badlapur
1000 - 3000
Bhandup (West)
11000 - 13000
Chembur (East)
15000 - 17000
Chembur (West)
11000 - 14000
Dombivali (East)
4000 - 6000
Ghatkopar
13000 - 15000
Heeranandani Gardens Estate - Powai
25000 - 30000
Hiranandani Gardens Estate - Powai
25000 - 30000
Kalyan (East)
2000 - 4000
Kalyan( West)
3000 - 5000
Karjat
1000 - 3000
Khandala
8000 - 10000
Kharegaon
5000 - 7000
King Circle
17000 - 28000
LBS Marg
12000 - 15000
Lonavala
3000 - 5000
Mulund (East)
11000 - 14000
Mulund (West)
11000 - 14000
Mumbai Nasik Highway
3000 - 6000
Powai
15000 - 17000
Senapati Bhagath Singh Road
3000 - 5000
Sion (East)
18000 - 21000
Sion (West)
17000 - 22000
Tilak Nagar
12000 - 22000
Ulhasnagar
3000 - 5000
Vikhroli
11000 - 14000
4 Bunglows
17000 - 28000
7 Bunglows
13000 - 23000
Chandivali
10000 - 15000
Malad (East)
12000 - 14000
Versova
21000 - 24000
Airoli
4000 - 8000
Belapur
6000 - 9000
Ghansoli
6000 - 8000
Kalamboli
4000 - 9000
Kamothe
4000 - 6000
Nerul
7000 - 10000
Palm Beach Road
12000 - 15000
Panvel
3000 - 6000
Sanpada
8000 - 10000
Sea Woods
8000 - 10000
Ulwe
3000 - 6000
Uran
3000 - 6000
Vashi
9000 - 12000
Altamount Road
62000 - 72000
Breach Candy
62000 - 74000
Chowpathy
48000 - 58000
Colaba
42000 - 46000
Cuffe Parade
67000 - 69000
Dadar(East)
32000 - 34000
Dadar(West)
29000 - 32000
Lower Parel
32000 - 34000
Mahalaxmi
38000 - 40000
Malabar Hills
68000 - 75000
Mumbai Central
23000 - 34000
Napean Sea Road
66000 - 74000
Parel
26000 - 34000
Prabhadevi
37000 - 39000
Tardeo
41000 - 49000
Worli
36000 - 41000
Andheri (West)
18000 - 20000
Andheri(East)
15000 - 17000
Bevarly Park
5000 - 7000
Bhayander (East)
5000 - 6000
Bhayander (West)
3000 - 5000
Boisar
1000 - 3000
Borivali (East)
11000 - 13000
Borivali (West)
10000 - 14000
Dahisar
4000 - 8000
Goregaon (East)
13000 - 17000
Goregaon (West)
12000 - 14000
Kandivali (East)
12000 - 14000
Kandiwali (West)
11000 - 12000
Malad(West)
9000 - 14000
Mira Road
5000 - 7000
Naigaon
1000 - 4000
Nala Sopara (Eastt)
3000 - 5000
Nalasopara (West)
3000 - 5000
Poonam Nagar
6000 - 8000
Shanti Nagar
7000 - 9000
Shrishti
6000 - 9000
Vasai Road
1200 - 4000
Virar
1000 - 3000
Note: Price trend are based on asking rate and not necessarily on the transaction date
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