Real estate developers offer attractive I-Day discounts in bid to catch festive season buyers early

Festive sales activation campaign has been advanced this season considering the number of new launches expected this year during Navratras and Diwali.

Several real estate developers are offering schemes and discounts this Independence Day. Sops, usually reserved for Ganesh Chaturthi, Navami and Diwali, are on offer this Independence Day, as there is an extended weekend opportunity. Experts say the offers will lure people in to take this opportunity to make site visits. The idea is to create an effective tipping point.

A few developers in Mumbai are offering zero stamp duty, no GST, flexi-payment plan and 12-month EMI waiver to homebuyers who book apartments between August 1 and August 31.

A builder in Mumbai, JP Infra is offering zero stamp duty, flexi-payment plan, 12-month EMI waiver and furnished homes for its JP North Garden City located in Mira Road. Labdhi Lifestyle is offering no stamp duty and no GST for their projects Labdhi Seabreeze in Wadala and Labdhi Gardens at Neral with prices starting from 84.99 lacs and 18.99 lacs respectively. This is open until August 15.

Tridhaatu Realty, a developer in Mumbai, is offering a discount of Rs 10 lakh for a 2BHK unit and up to 20 lakh discount on a 3BHK.

In Delhi-NCR, Bhutani Infra is offering buyers the freedom to choose their preferred property at a rate preferred by them. The scheme started on August 1 and will continue till August 15. It will be applicable only on 77 units across all Bhutani Infra projects worth Rs 1 crore and above. In the scheme only 77 people will be selected for allotment. The final winners and their allotment will be decided based on a lucky draw.

Under the scheme, if a buyer chooses a Bhutani Infra property, he can quote a price for the property selected. For instance, if the price of a unit is Rs 2 crore then the buyers can quote a price of Rs 1.75 crore or Rs 1.5 crore as per his budget. The price will be locked and the winner will be decided through a lucky draw, said Ashish Bhutani, CEO, Bhutani Infra.

The Gaurs Group is offering a car on each booking in its Gaur World Smartstreet Project, a commercial complex, in Greater Noida West. The scheme is  valid for two days - August 12 and 13. Gaurs is also offering free maintenance of shops for three years.

The company is also giving away an iPhone on each booking for its shops in Gaur Aerocity Mall in Ghaziabad. Other offers include free registry and two years’ free maintenance at Gaur Aerocity Mall.

In Bengaluru, Provident Housing is currently running the Freedom Online Home Fest 4.0 wherein a buyer can book a housing unit from anywhere, at any time and with significant savings of up to Rs. 12 lakh.

Experts say that these offers are being given away early to have a first-mover advantage in terms of sales and build on the sense of urgency. Having said that, buyers should be cautious and analyse each deal before investing.

A NCR-based real estate developer Signature Global is offering 1 pe 5 offer. Under this scheme, a buyer booking a unit in independent floor projects in sectors 37D, 93, 92-2, 79B, in Gurugram will receive benefits worth Rs 5 lakh for Rs 1 lakh along with an additional Rs 77,000 as part of the Independence Day.

“This year, Independence Day has created an extended weekend opportunity where a lot of people will be thinking of leaving the city for a short break. By offering Independence Day discounts, developers can make site visits in the city more attractive than leaving town, coupled with the usual sense of urgency that discounts create. Demand exists anyway - it is only a question of creating an effective tipping point,” said Prashant Thakur, Regional Director and Head - Research, ANAROCK Group.

Festive sales activation campaign has  been advanced this season considering the number of new launches expected this year during Navratras and Diwali. “The idea is to enjoy the first mover advantage, and be ahead in terms of sales. Most of these offers are for under construction projects, and in Mumbai primarily, by tier 3 and tier 4 developers who are gradually utilising the premium that was offered to them by the government two years ago,” explains Ritesh Mehta, Senior Director and Head, West and North, Residential Services & Developer Initiatives, JLL.

With inputs from Ashish Mishra in Delhi and Souptik Datta in Bengaluru