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The Diwali festive season is one of the most awaited times of the year for both developers and home-buyers. The period is usually marked by new project launches along with a plethora of offers, rolled-out by the developers. For the modern-day prospective property buyers, the festive season induces prosperity coupled with a host of freebies and property schemes to be availed. Developers are offering their current inventory at a fraction of the total cost of the apartment, along with offering added benefits and advantages such as tax waivers to free parking, iPhone, modular kitchens and cars, etc. With interest rates falling sharply over the last six months and most banks linking their home loan to RBI’s repo rate, there are chances of further reduction in interest rate, the time is near perfect for buyers. On the other hand, buyers consider the festival season as an auspicious time to own a property.
Inventory and New Launches: According to Anarock research report about 6.56 lakh units were lying unsold on Q3 2019 end across top seven Indian cities. Delhi NCR itself has nearly 16,800 ready units in unsold stock. Since home-buyers are keen for new investments and purchases during the festive months, the developers, too launch new projects during this time of the year. As a matter of fact, the number of projects launched during the festive season is much more than any other time of the year. As a result, investing during the festive season also provides you with an impressive portfolio of newly-launched projects to choose from.
Realty major DLF recently launched its flagship project DLF The Ultima in sector 81, Gurgaon. It has sold 376 ready-to-move-in luxury flats worth Rs 700 crore on the first day of the launch. Designed by ARCOP and landscaping for the project is devised by renowned designer Paul Fried-berg, DLF Ultima Gurgaon consists of ready to move in 3 & 4 BHK luxury residential apartments. DLF is offering fully fitted apartments in Ultima with fully functional modular kitchen with hob and chimney, wardrobes, VRV/VRF air conditioners, branded appliances i.e. microwave, dishwasher, OTG, refrigerator and washing machine, etc. The USP of the project is an exclusive 35000 sq. ft. Club House with steam and sauna rooms, spa and beauty salon, open-air swimming pool with water features, two tennis courts, two basketball courts, a card room and a snooker room and Multi-Purpose Hall. Other amenities include amphitheater, 2 parking spaces for 3 BHK and 3 parking spaces per home for 4 BHK, high end security through CCTV surveillance, 24*7 water supply, round the clock power backup and many more features for the well-being of the inhabitants.
Strategically located in Sector 81, Gurgaon which is amidst Delhi, Manesar, and Gurgaon and proffers superb connectivity through NH-8 and Dwarka Expressway from here. Modern schools, well-reputed hospital, railway station, and IGI Airport are also easily approachable from this residential property in Gurgaon.
Godrej South Estate is a new launch project by Godrej Properties located in Okhla. Set in Okhla Phase 1 luxury residential project is spread in 5 acres of land and promises a posh and modern construction. Strategically located, the project offers easy connectivity to a range of important destinations like Nehru Place, Jasola and Mohan Cooperative, Delhi Metro corridor, flyovers, Saket, etc. The area is also connected to the main road that touches Mathura road from Greater Kailash.
The residents can buy classy apartments of 2,3 and 4 BHK configurations. Welcome to a home with a cutting-edge FMAP Technology (Filter-less Magnetic Air Purification) that circulates pure & fresh air, in each and every corner of the home. Moreover, air purifiers with MFFA (Mechanical Filter-less Fresh Air) Systems are installed across the entire complex, to give you fresh air all through the day. The amenities available in Godrej residential project Okhla include a luxurious clubhouse, green landscape, swimming pool, kids play area, indoor games, water bodies, kid’s pool, outdoor games, and more. Armed with a 5-tier security system, four-in-one smart door lock; smart video door phones; lifeguard at swimming pool, this home takes care of its residents. It is for all the above-mentioned reasons that Godrej Properties Okhla has emerged as one of the most sought-after projects in Okhla.
Attractive Offers: Availability of plenty of options in a ready-to-move-in segment with RERA getting implemented later in 2016 there is a rush among developers to finish their under-construction projects and to offload their unsold inventory. A buyer today has the liberty to choose from the extensive options available in the market in both ready to move in and under-construction projects. Another key driver is offers and discounts from developers. Developers are sitting on huge inventory and, to attract buyers, the offers are bigger than ever. From big ticket discounts to assured gifts on booking, to gold coins, luxury cars, furniture, free club membership, international holidays, appliances etc. the list is endless of the festive offers on property by developers.
Innovative Pricing Plans: Apart from the attractive deals and discounts, developers also introduce innovative payment plans by introducing attractive EMI payment plans 20:80 payment schemes, or even assured rental, until or after possession. Such lucrative plans may prove to be the deciding factor for a prospective home-buyer to invest in a property due to availability of a highly flexible, yet secure the payment option. Real estate companies have also come out with offers such as cash discounts and zero stamp duty fee to woo home buyers.
Auspicious Offerings: Mostly, Indians take investment decisions like purchase of a property after taking into consideration many factors including auspicious dates, Vaastu, and numerology. As festive seasons are considered highly auspicious time for investment, it would be a suitable time for Vaastu-conscious buyers, even from the millennial segment, to invest and realtors also grab the opportunity to promote Vaastu-compliant homes through targeted campaigns and promotions.
Strategically located at Sector 22, Gurugram, Ambience Creacions are Vaastu compliant luxury ready to move in apartments spread over an area of 15 acres. The complex is decked with modernized facilities and amenities providing an unmatched living experience. The USP of the project is a Furnished Club with modern sports facilities, party/ meeting rooms, swimming pool and gymnasium. Other amenities offered in Ambience Creacions are 24 hrs backup electricity, car parking, CCTV cameras, community hall, cricket court, drainage and sewage treatment, fire safety, gated community, gymnasium, indoor games, jogging track, landscaped garden, lift, maintenance staff, multi-purpose hall, play area, rain water harvesting, security, street light, swimming pool, table tennis, tennis court, toddlers pool and yoga, aerobics and meditation room.
Located close to the Old Delhi Gurgaon Road, Sector-22 is an emerging locality of Gurgaon buzzing with real estate activity. The property’s closeness to the Indira Gandhi International Airport (11.9 km), National Highway-8 (3 km), and MG Road (5.7 kms) make sure that it is centrally connected to all major points on the map. In vicinity of Ambience Mall, Columbia Asia Hospital and Fun n Food Village this residential property in Gurgaon is among the fully developed infrastructure and inhabited Sectors free from bottlenecks.
Bestech Park View Grand Spa is artfully designed ready to move apartments in New Gurgaon in Sector 81, Gurgaon. This residential project offers spacious 3-BHK and 4-BHK apartments ranging from 2,660 sq. ft. to 4,200 sq. ft. along with penthouses and villas. Bestech Park View Grand Spa in Gurgaon is one of the most coveted residential projects to live in. The Spa Signature Tower offers some of the most upscale living spaces in Gurgaon. Artistically designed by the internationally renowned architecture firm Chapman Taylor Park View Grand Spa is conceived as a gated community, Wi-Fi enabled and an ultimate Eco-friendly habitat.
The 8-acre central park, gives residents in the inside-facing units a scenic view of gazebos that have been erected, a central water body is in place and so is an amphitheater. From sporting activities to yoga and meditation, the project has something that would interest all. Tennis courts, squash court, spa, Jacuzzi, restaurant among others. Amenities on offer include kitchen accessories include a hob, chimney and microwave oven, VRF Air conditioning in living rooms and wardrobes. Located in Sector 81, Park View Grand Spa in Gurgaon is known for its easy-to-reach facilities. It is just 1.5 kilometers away from NH-8. You can reach here within 15-20 minutes from International airport and proposed Metro Station. The seamless connectivity to Delhi is an added advantage for the residents.
Offers on Home Loan: Other than discounted property prices, buyers can also avail attractive home loan offers during the festive season. From concessional interest rates to numerous freebies, banks and lending institutes have a number of home loan schemes to offer during festive season. Banks are also strategically tying up with companies across sectors to offer cashback and special deals. Home loans and interest rates at this time turn out to be a lot more attractive.
Linking of Home Loan Rates to Repo Rate: RBI’s decision to make it mandatory to link of home loan rates with the repo rate have made home loans cheaper, which in turn drives the housing demand and help developers gain significant profits. The increased discount on interest rates while availing a home loan of less than Rs 45 lakh, valid till March 31, 2020, will benefit developers immensely, owing to an increased demand from potential home-buyers.
Sources:
https://www.bloombergquint.com/business/about-12-of-unsold-houses-in-top-seven-cities-are-ready-for-possession-report-says
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