Festive Season Bring Cheers in Realty Sector

New Delhi: The recently concluded festive season which started from Navratras in October until Diwali in November, brought lot of happiness and optimism with it. It is the time when the developers attract buyers with their exclusive offerings and freebies to push their sales. Working hand in hand, the developers maximize their sales as buyers also consider festival season an auspicious time to own a property.

Compared to the last few years, this year was very different as sales jumped multiple times for many developers. With RERA already in place, developers who have been developing and delivering, saw major jump in their sale figures. Real estate sales and deliveries too, in the sector have shown a significant growth in each segment and buyers are also pretty confident to make a housing deal.

The festive season is also marked by the lucrative offers which most of the developers bring to lure customers as people consider this phase to be an auspicious time to buy new home. Paramount Group which had showering number of offers at Paramount Golf Foreste in form of free KVA Power backup, Fully Modular Kitchen, Wardrobe, Club Membership, free 2 Car Parking, free 6 months Maintenance, Microwave Oven, Video Door Bell, Hot Plate, Fire Fighting Charges, Lease Rent, Landscaping, Interest Free Maintenance Security etc., saw a good jump in real estate sales. As per Ashwani Prakash, ED of the Group, “there has been 35% increase in conversions thus escalating sales for us.”

Another prominent developer Sikka Group, which is developing multiple projects in NCR witnessed good sales aswell. Harvinder Sikka, MD, Sikka Group, says, “With our own styled payments and rental plans in form of offers in our projects across NCR & Dehradun, we witnessed over 25% increase in sales in our residential and commercial projects on a YOY basis.”

Gaurs Group, a leading name in NCR realty, did record booking of 1012 units worth Rs 411 crores during the festive season. The realty player did the record sales in Gaur city & Gaur Saundaryam in Greater Noida West, Gaurs Siddhartham in Siddharth Vihar(Ghaziabad) and Gaur Yamuna City at Yamuna Expressway. The humongous sales have actually once again brought the entire region in focus where Gaurs Group has been a leading realty player.

T & T Group, one of the pioneer in developing Digital Housing in NCR and the only one developing in Ghaziabad or Noida, saw a major increase for queries their maiden project, T – Homes in Siddharth Vihar, Ghaziabad, where they sold 57 units thus generating a revenue of over 40 crores that too, just in development of its 1st phase. They achieved this feat within 67 days of launch of the project in Ghaziabad. T & T Group has already started its construction at its first digital housing project – T Homes.

Mr Rajesh Goyal, MD, RG Group, which is currently selling few of the remaining inventory at their project RG Residency, in sector 120, Noida, added “Ready to move in properties has always been the 1st preference for buyers but it is during the festive season that we have witnessed 50% increase in sale of ready to move in units at our project.”

Saya Homes already witnessed record queries from homebuyers during the weekend property carnival and then the group by offering a unique payment plan for its project Saya Gold Avenue, at Indirapuram, sold approx 75 units worth Rs 100 crores. The group even generated a revenue of Rs 20 crores with booking of 25 units at Saya Zion, in Greater Noida West, during the festive season.

Mahagun India, another realty major which has been a front runner in developing mid- segment and luxurious homes had announced luxury property fest and then a limited period fest on the last weekend just before Diwali, the realty major saw huge foot falls during both the fests. Dhiraj Jain, Director, Mahagun, says, “festivities are the best time to invest in properties. Our limited period offers saw over 50% increase in sales in comparison to last year’s festive season. Post RERA the confidence of the buyer is back.”

Shri Group, another realty player offering assured gift on every booking in their projects, Shri Radha Aqua Garden, Shri Radha Sky Park and Shri Radha Sky Garden sold around 200 units during the festive season.

As per Ankur Dhawan, CIO, Proptiger, “festivities are considered auspicious and if the offer and the projects are good enough to invest, people tend to invest during the festive season. Over all, in all major cities in the country, there has been upsurge of sales which is a good sign for the reviving realty market.”