With the festival of Diwali, the biggest in the country, on the anvil, real estate developers are accelerating their sales and marketing efforts in a bid to ramp up housing sales and catch the attention of prospective homebuyers in a positive and festive period when buying sentiments are healthy. Several real estate developers are coming up with mouth-watering assured gifts and other special offers in a bid to draw more buyers to their projects. Nowhere is this more prominent than Mumbai where the sector has been witnessing a semi-slowdown of sorts over the last 4-5 years.
However, the realty market in Mumbai has been showing green shoots of progress over the last few months and this has made several top realty players come up with special offerings and other incentives for buyers, namely cash back offers, free cars, fully furnished apartments and more flexible payment options among others. Every year, real estate developers launch new schemes and offers for luring more buyers around Dussehra and Diwali. Buyers are expected to be majorly drawn to special offers like a free car with every apartment which is being offered by top realty players.
Buyers should check the validity periods of such offers along with negotiating for aspects like floor rise charges and maintenance charges among other aspects. Customers should also check the reputation and track record of the real estate developer along with the location where the project is being developed. The number of new launches has gone up this year as per report and realty players have actually offered several discounts and other buying schemes throughout the year. There are other offers like zero registration/stamp duty charges, free home appliances, assured gold coins and zero EMIs till possession.
In fact, real estate developers who urgently require cash to fund further development, are wooing customers with several innovative offerings. Yet, experts remain cautious on whether these festive offers will bring in a large number of buyers as far as the Mumbai real estate market is concerned. Mumbai is already witnessing the development of several premium housing projects like Chandak Nishchay at Borivali East, Omkar Lawns and Beyond at Andheri East and Sethia Imperial Avenue at Malad East.
