Festive season expected to drive real estate surge, inquiries up by 10–15%, but developers keep incentives

Festive season expected to drive real estate surge, inquiries up by 10–15%, but developers keep incentives

With Diwali approaching, real estate developers and market experts anticipate a strong boost in property sales this festive season. Industry professionals report a 10–15 percent rise in property inquiries and bookings, attributing the growth to several key factors — including recent GST rate reductions, attractive home loan interest rates, and the traditional sentiment of investing in property during the festival of lights.

However, market observers added that developers and brokers are continuing to attract customers using incentive schemes, including discounts, white goods (electronic items), and payment plans.

Pratap Singh Ahlawat, Founder & CEO, Pranshi Infra Advisors, a real estate broking firm operating in north-India, said that RBI estimates EMIs now consume only about 27 percent of household income, compared to over 50 percent in 2011, which is encouraging genuine homeownership.

“The festive season is once again proving to be a catalyst for real estate demand, with inquiries rising by nearly 10–15 percent. What stands out this year is the confidence of end-users who are actively closing deals rather than just exploring options. Interestingly, we are also witnessing increasing traction from aspirational buyers in smaller cities, who see festive periods like Diwali as the most opportune time for long-term wealth creation through real estate,” Ahlawat told Moneycontrol.

Market upbeat in Delhi NCR, Mumbai

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Ashish Mishra

Prinicipal Correspondent|moneycontrol

Delhi-NCR market is witnessing a surge in buyers’ sentiment as inquiries about residential real estate witnessed an uptick of about 15-20 percent and in some pockets like Dwarka Expressway, it grew by up to 25 percent.

Sidharth Chowdhry, Managing Director, Dalcore, which is developing a luxury housing project on Golf Course Road, said that the festive season continues to be the strongest demand driver for housing in India, contributing nearly 30–35 percent of annual sales in many markets.

“This year, we have seen enquiries rise by almost 25 percent compared to the previous quarter, with conversions also picking up steadily. The combination of stable interest rates, rising disposable incomes, and positive consumer confidence is ensuring that festive demand translates into sustained growth for the real estate sector,” he said.

Chowdhry added that branded residences have emerged as a leading category this year as discerning buyers are showing a strong preference for trusted developers and lifestyle-driven projects.

Market analysts in Mumbai report a rise in property inquiries driven by the festive season. However, incentives remain limited, particularly in the luxury and upper-middle-income segments.

“A noticeable uptick in interest has been observed in the Mumbai housing market,” said a real estate broker based in Mumbai.

According to a report by Knight Frank, Mumbai city (area under BMC jurisdiction) recorded 6,238 property registrations during the ten days of Navratri (September 22–October 1, 2025), marking a 20 percent increase over the 5,199 registrations in the same period last year.

This surge also contributed to a 17 percent YoY rise in state revenue collections, which touched Rs 587 crore during the festive period. Experts said that the festival of Diwali is further likely to boost the housing market as inquiries have increased.

Shishir Baijal, Chairman & Managing Director, Knight Frank India said that the uptick in buyers’ sentiment is supported by stable interest rates, improving affordability, and the recent GST simplifications, reflects the sustained confidence of homebuyers.

Inquiries up in Bengaluru

Ramji Subramaniam, Managing Director, Bengaluru-based Sowparnika Projects, said that a combination of festive offers, lower home loan rates, and the recent GST reduction on construction materials is driving higher footfalls and stronger booking conversions.

“This year, we are witnessing a clear boost in buyer confidence, with inquiries rising by about 10–15 percent. With affordable and mid-segment categories continuing to form the backbone of housing demand, we expect the festive period to nudge buyers who have been waiting on the sidelines to finally take the plunge," he said.

Monty Joshi, Co-founder, Sarvam Properties, echoed similar voices and said that inquiries have noticeably increased, particularly from families hoping to align major investments with auspicious timelines.

Festive season offers

Developers and market observers say that the industry is carrying on incentives to push sales on in the ongoing festive season. The incentives include some token discounts, as well as flexible payment plans, and white goods and jewellery offers, although the offers, as well as the level of incentives, are varying widely across markets.

For its maiden Mumbai project The Westpark, DLF instituted a 14-stage payment plan in July, largely linked to construction, with Rs 35 lakh as the application amount.

Similarly, Sarthak Seth, senior vice president, chief sales and marketing officer at Tata Realty & Infrastructure Ltd, said, “This festive season, we are ensuring that our projects offer not just world-class residences but also unmatched value to our homebuyers— from an easy 10:20:30:40 payment plan, to a Rs 5 lakh furnishing voucher on every sale.”

Some developers are also cashing in on the launch of the new iPhone 17 range, marking a return of the trend of developers offering white goods as sweeteners to close sales.

"At Siddharth Vihar's Prateek Grand Begonia in Ghaziabad, buyers get an exclusive offer of a special payment plan in which they can book their home by paying 5 percent of the amount, and also get an iPhone 17 and 17 Pro on booking of a 2BHK & 3 BHK, respectively. Likewise, for Prateek Canary, located in Sec-150 Noida there is a special payment plan of 40:30:30 along with an iPhone Air on 3BHK Elite booking, and iPhone 17 Pro and iPhone 17 Pro Max on 3BHK and 4BHK respectively," said Prateek Tiwari, MD of Prateek Group, a developer in the National Capital Region.

Sahil Agarwal, CEO, Nimbus Realty, said that at Nimbus The Palm Village project in Sector 22A, Yamuna Expressway, the company is offering the buyers a 30:40:30 payment plan, 10 gm gold coins on booking of each low-rise apartment, and the first transfer is complimentary.

"Further, at Express View Park II, Plot GH-03, CHI-V, Expressway, Greater Noida, we are hosting a celebratory carnival with special gifts like an iPhone, Rs. 51,000 in cash, a 5 gm gold coin, an air conditioner, and a double-door refrigerator," he said.

In other emerging markets like Pune too, large local developers have announced incentive schemes such as EMI holidays and token discounts, as well as gold coins.

Aakash Agarwal, MD, Krisala Developers, a Pune-based real estate firm, said that his firm is offering exclusive benefits such as EMIs starting at just Rs 9,999 per month for 36 months, a no-EMI period of 12 months, a chance to spin the wheel and win additional discounts up to Rs 1 lakh, and gold coin vouchers worth Rs 1 lakh.

“These offers are designed to ease the initial financial burden, give buyers greater flexibility, and create a sense of celebration around one of life’s biggest investments," he said.