Realtors expect festive demand to lift home sales to a decade high


Real estate developers and brokerage firms are expecting the festive season to be the best in a decade as post Covid the demand for homes continue to increase despite rise in interest rates and construction cost.

Builders like Tata, DLF, Mahindra, TARC, Karle Infra and Arvind SmartSpaces are ready with festive offers and launches to cash in on increase in demand.

“As we look forward to the upcoming festive season, the real estate market is expected to experience strong demand. Festivals also bring with them an auspicious period. We expect to experience end-user-driven demand as customers show a preference for home buying. Customers who have been holding back or were on the fence during the past few months would be eager to purchase now,” said Arvind Subramanian, MD of Mahindra Lifespaces.

To cater to the growing homebuyers’ demand, developers have started to provide financial assistance that in turn lowers the financial burden on the home buyer. For instance, Tata Realty has launched “It’s Interesting” campaign aimed at assuming the financial burden beyond 3.5% of interest rate on homes by Tata Realty for 12 months.

“Festive seasons have always been an auspicious time to make purchases of prodigious values. Homes, being the most significant and consequential investment, are widely purchased across the country during Indian festivals,” said Sarthak Seth, chief sales and marketing officer, Tata Realty & Infrastructure.

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Developers have also started offering up to 2% of the unit cost to the customer who refers projects to their friends or family.

“We have launches scheduled in Delhi and some of them will be launched during the upcoming festive season. TARC Tripundra located at Main Bijwasan Road, Pushpanjali Greens is one of them. We are also offering referral benefit,” said Amar Sarin, managing director, TARC.

Living through the pandemic and adapting to the hybrid work model has reinforced the importance of home ownership. The demand for real estate continues to remain strong, despite the gradual rise in home prices due to an increase in input costs.

“Both the quantum of home sales and average sizes of homes sold have increased post the pandemic with homes playing multiple roles for different members of the family. The festive season is also a good time to buy because developers, as well as lenders, offer an array of discounts and special offers enabling homebuyers to get the most value for their money,” said Avinash Suresh, chief operating officer at Arvind SmartSpaces.



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