It’s no surprise that the 2020 pandemic bought an unprecedented slump in demand in the realty sector.
While the sector faced the outbreak’s heat, it’s likely to see a silver lining with the festive season being around the corner.
Low-interest rates and lucrative offers by developers make a captivating deal for the home buyers.
So if you’re wondering if you can get special house offers, then read on.
We will discuss the festival offers on property and shed light on the realty sector’s revival.
Finally, you’ll know why the festive season is an ideal time to invest in property.
The revival of the realty sector
There was a recent event hosted by PropTiger in which they hosted over 30 developers.
This covered 80 prominent developers, including Lodha, Godrej, PS group, and Emaar.
About 15,000 buyers registered for the event, resulting in excellent deal flow.
Another event called the Unlock Gurugram Campaign saw a positive response from the buyers as well.
This showcases the confident sentiments among home buyers and the willingness to invest in the property.
Therefore, while the time is trying for every industry, developers are coming up with the best deal to make it easy for homebuyers to decide.
Let’s now see the real estate offers that make this festive season an ideal time for you to invest in property.
Home Buying During Festive Season
1. Home Loans
Generally, banks and other financial institutions introduce creative offers during the festive season to draw more customers.
Moreover, RBI declared a slash in repo rates this year.
So if you’re planning on financing the home, this seems an opportune time to make that call.
Lastly, you’ve to be cautious about investing as well. While festival offers on property and deals from the developers make it a great time to invest, it’s wise to run a quick background check on the developers and look for their credibility.
If you’re finding it difficult to do so, worry not.
Our realtors at Buniyad make the entire process easier for you by identifying and suggesting reliable and credible developers, along with the best property advice in your desired location.
2. New Projects
Developers grab this opportunity to launch new offers, anticipating the increase in demand.
But, since the construction has been on halt for a brief time, it’s likely the developers will come up with creative offers to clear existing inventory.
Hence you will find more opportunities in ready to move in properties versus an under-construction one.
At the same time, the festival offers on property are something you shouldn’t skip.
3. Festive Offers
October-November is that time of year when potential buyers keep their eyes peeled for Diwali offers on property.
This year, some developers are also offering extra space at the current price.
Not only this, but freebies and giveaways are bound to make a better deal for the home buyers.
Example: a Noida-based developer, Gaur City is offering easy payment plans with a 10% down payment in 30 days, 40% within the 1st year, and rest 50% at the time of delivery of the project.
Other reasons that make this the best time to buy a home:
- The unprecedented pandemic outbreak reinforced the importance of owning a home.
- Property price in festivals is at an all-time low.
- Developers are actively trying to sell the inventory; hence, you can get great deals.
- A plethora of real estate offers to choose from, especially in the move-in-ready properties, so there is no risk involved.
- After the RERA regulations, you can verify the credibility of the developers easily and quickly.
- This is a great time to buy if you were already looking to purchase before the lockdown, or you’re an NRI.
So these were some of the reasons why this festive season could be just the right time if you were sitting on the fence.
Reach out to our realtors who have extensive experience and knowledge of the market and let us guide you in purchasing your dream home!