Developers gear up for Diwali, housing demand likely to sustain

Mumbai, 17th October 2022: Real estate has always had a track record of shooting up on the growth graph during the festive season. Moreover, the energy that surrounds during these Festivals such as Diwali are considered to be auspicious to buy a home. There is definitely an inclination towards purchasing property during festivities.

Festive season such as Dhanteras and Diwali mostly see home-buying at its peak. Most people believe that this is an auspicious time to buy something new. A lot of people end up buying property on Dhanteras since they see own home as a sign of prosperity and good financial health.

Even Banks roll out offers for home loans which empowers home buyers to buy their homes at cheaper prices. Going against the rising interest rate trend, several banks have already slashed interest rates on home loans as part of the festive bonanza. State-owned Bank of Maharashtra has decided to reduce the minimum interest rate at which it will offer home loans to 8 per cent from 8.30 per cent effective from October 17, 2022. Last week, the State Bank of India (SBI) decided to offer a concession of up to 0.25 per cent on home loans, 0.15 per cent on top-up loans, and 0.30 per cent on loans against property for a limited period. In contrast, the Bank of Baroda (BoB) has waved off processing fees for its home loans and provides reasonable interest rates commencing at 7.95% p.a.

During festive seasons, developers too roll out several offers to entice their customers to buy their dream home.

This Diwali, Runwal Group has come up with a bouquet of festive offers at their various residential properties across MMR. At the Kanjurmarg West located project, Runwal Forests, they are providing the customers with flexible payment plans and at Runwal Bliss in Kanjurmarg East, they are offering a 10:90 subvention scheme in which you can pay just 10% now and 90% on OC receipt. For Runwal Pinnacle in Mulund, buyers will get the benefit of an easy payment plan where they have to pay just 10% now and low fixed pre-EMIs till March 2023. Lastly, at Runwal Gardens in Dombivli, Runwal Group has thoughtfully provided festive offers where customers can book their homes by paying just 1% now and the rest in a Flexi pay plan along with the advantage of no pre-EMI till Feb 2023. Moreover, all the mentioned projects are also offering zero stamp duty and spot booking offers. Offers are valid for a limited period. T&C apply.

Mr. Rajat Rastogi – Executive Director, Runwal Group said “As always, the festive season brings about a positive vibe in the market. Home buyers are more inclined towards property purchase during this period we have put together a thoughtfully curated bouquet of offers and schemes at our projects for the festive season. This will help in making their decision-making process easier and faster. At Runwal Group we have been witnessing a great year and the velocity has picked up further since the festive season started a month back. The Dussehra-Diwali period has always been good for the industry in general and we are certain this year will be no different. Like I have said earlier also, good projects by reputed developers will always have more traction and we have been seeing this at all our projects.”

This Diwali, Pushpam Group has amped up its charm with the Double Dhamaka offer for their resort homes, Pushpam Sanskruti in Karjat. The main attraction of this special Diwali Offer is a guaranteed rental income of Rs. 11,000/- till possession for its customers and monthly 20% ROI after possession, more than 25 lavish ready amenities, RCI membership, and unlimited holiday. Pushpam Group believes in providing customers with the right value for the money. By investing in these resort homes, buyers can enjoy a blend of leisure, luxury, and investment. Additionally, these homes can rightly be called, ‘The Kamanewala Ghar’. Offer valid for a limited period. T&C apply.

Dr. Sachin Chopda, Managing Director, Pushpam Group said “Diwali is one such festival which is strongly found in our country’s rich cultural past, and the real estate industry by definition represents elegance and success. Many prospective buyers regard Diwali as an opportune time to seal their deal. The demand in the real estate sector is buoyant and consumer sentiment has turned upbeat for this festive season. For the more affluent and HNI segment, resort homes have emerged as a sought-after option, both for investors and end-users.”

With Diwali around the corner, Tridhaatu Realty announces an array of offers; where one can avail Premium Air Conditioned Homes furnished by IKEA along with attractive payment plans of 20:70:10 and 50:25:25 for their nearing completion projects Tridhaatu Morya and Tridhaatu Aum, respectively. Additionally, they are also offering Spot booking Offers together with Zero Stamp Duty, and Zero GST benefits for both projects located at Chembur. Offers are only valid for a short period of time on the exclusive and limited inventory this Diwali. So, hurry and grab the exciting offers!

Mr. Govind Krishnan Muthukumar, Co-founder & Director, Tridhaatu Realty said “Attractive price points and innovative payment plans are among the leading options that home-seekers are looking for in this festive season. As far as the real estate sector is concerned, this time the reason to buy a home goes beyond the traditional beliefs associated with the festival of Diwali and has more to do with the multiplying benefits and making the investment more profitable. We at Tridhaatu Realty curate festive payment options based on the requirements of our customers.”

Sumit Woods presents Exclusive Festive offers for potential customers, where one can avail of sparkling offers this Diwali. The Group is rolling out a range of benefits on booking a Limited Edition Sea View Home at their South Mumbai project – Sumit Atulyam, Matunga West such as a 50:50 builder subvention scheme under which the homebuyer pays 50% at the time of booking and the rest 50% on possession. Additionally, they are also offering an EV CAR on all bookings at Sumit Atulyam. They are also gifting their customers 21 Tola Gold on booking a home at Sumit Arcenciel located at Sarvodaya Nagar, Mulund West. Offers are valid only for limited inventory. T&C applies to all offers.

Mr. Mitaram Jangid, Founder and Director, Sumit Woods Limited said, “We at Sumit Woods are welcoming this Diwali by providing offers that will meet the contemporary needs of the homebuyers. We believe homes are a second name for comfort, and our eco-friendly homes are a perfect example of our commitment to quality and concern for the environment as well as our customers. We are optimistic that the wide range of projects in line with current demands will steer the real estate ship towards positive growth.