Developers Opine For Festival Discounts Exclusively for Genuine Buyers

Buyers are being offered festival discounts only after they have made up their mind to buy an apartment. The festive season has begun with Navaratri about to end, followed by Dasara, Durga Pooja, and Diwali. The festival season will continue till the end of the year. During this phase of the festive season, it will be considered positive for new projects. This includes purchasing of the new property too. However, not all the developers have announced the discounts for the festive season with much fanfare.

Generally, it is observed that the housing loan companies, banks and property developers publicize about the Dasara-Diwali discounts. However, this time even though the special prices are being given away by developers, the same is not being done on a large scale as in with advertisements. The real estate slogans and promos are hardly to be seen. According to the industry observers, this trend has been credited to one of caution. 

According to a freelance realty consultant with sales and marketing tie-ups with various developers, most of the developers are exercising caution, other than those who have a few unsold apartments in a project. Many developers are promoting festival discounts silently, even as there is seen a stable rise in sales since mid-August 2013. It is believed that developers are, despite this coming up with special offers for the unsold inventory. 

Even though, the prices are low this festive season, the buyers are still expecting a further discount. The fact is that the developers cannot afford it today. Despite the buyers getting a reduced price on the offerings during this festive season, it is only on a one-to-one basis. 

Apart from this, the other sector that is the banks and the housing finance companies are yet to announce the festival loan schemes. There are talks about coming up with special schemes in the near future by numerous developers who are about to resume talks with organizations and banks such as LIC. According to an industry observer, it is observed that they are still at the negotiating stage as banks are very watchful and focused on the fine print that the offers commit to.

For more articles on real estate industry please visit Sovereign Developers Reviews Page.