The Indian real estate industry is positive about the upcoming festive season while expecting windfall sales growth simultaneously. Kanika Gupta Shori, the COO and Founder, Square Yards, states that housing demand is already at an all-time high and should be driven further by the festive period. Developers are also optimistic regarding the increasing demand for housing while anticipating good sales figures in the festive season with attractive offers and schemes.
Festivals have historically been positive periods for the real estate market, especially in the residential segment. Developers also come up with several attractive offers and flexible payment plans to draw more buyers in these periods. Many market players feel that the residential sector should keep witnessing steady growth momentum over the next few months, especially with evolving concepts of home ownership. Nowadays, buyers are not viewing it only as a necessity in life, but also as an investment and lifestyle choice in a manner of speaking. Many also wish to build assets for their future generations. This will keep demand high going forward according to them.
Indian homebuyers are majorly driven by auspicious events and occasions when it comes to making investments. From Ganesh Chaturthi to the New Year, the festive season will be on in full swing across the country, with high sales figures expected by industry players. Developers are also gearing up to offer the best options to customers with innovative payment plans and financing, strategic locations, reasonable prices, and more ready-to-move-in inventory alongside. Several homebuyers invest in properties in this period throughout the country, particularly in Sates like Maharashtra. Both demand and supply levels are optimal in these periods, building more positive market sentiments as a result. Mumbai, for instance, witnessed higher sales in residential units by 25% in H2 2022 as compared to the first half of the year.
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Published Date: Sep 18, 2023
