This festive season is expected to bring in the much-needed positivity and vibrancy in the real estate sector

 

Dussehra festival symbolizes prosperity and is also believed to be one of the most auspicious days where the purchase decision for property and gold is the highest. It is a strong belief that a high-value purchase on Dussehra brings good luck. Buying a house is an once-in-a-lifetime investment, in most cases; therefore it is preferred to be bought during such festive occasions. There was a ‘wait & watch’ attitude amongst the buyers ahead of RERA, that has given a rise to ready inventory, hence projects consisting of ready to move in apartments closer to commercial hubs and good infrastructure will definitely see a boost during Dussehra. In-fact, with a good amount of inventory already available, home buyers can look at moving into a ready flat instead of just investing and waiting till the project is finished.  Similarly, developers too are looking at tapping potential home buyers, who are really looking to buy. There are many offers & discounts that are floating around in the market to attract potential home buyers. It is important that these buyers/investors do not get carried away by the appealing offers and stay very of the hidden charges. With the advent of RERA customer now expect more transparency hence, they should be more vigilant and read all the conditions and understand all the hidden charges before going ahead with any offers.

A large section of Indians tends to link property acquisition with auspicious dates and hence, activity levels on the property market increase visibly during the festivals. Festivals like Navratra, Diwali, Akshay Tritiya and Gudi Padwa traditionally, have been emotionally connected to the Indians as auspicious days for wealth acquisition. Developers, on their part, go all out to make sure that the festive season is not just of symbolic relevance. With the introduction of RERA that has boosted investor confidence along with clarity about the policies, this year Dhanteras in real estate sector is likely to witness a positive impact. Coupled with that we have the Prime Minister’s vision of ‘Housing for all’, hence Dhanteras for this year and for coming years is set to be more jubilant for affordable housing.