Real estate developers in the National Capital Region (NCR) are offering freebies and discounts to lure buyers in the Navratri (nine-day festival) that began on April 1. Offers vary from free parking and free power backup to free air conditioners and attractive payment schemes.
Gaursons India, a prominent NCR developer, is offering two payment options to buyers.
Managing Director Manoj Gaur says Navratri is considered one of the most auspicious times of the year, and many people invest in real estate during this period.
“Buyers can avail of our two attractive payment plans in Gaur Properties, more so in Gaur City, where there are several schemes on offer. In the first scheme, the buyer will pay 15% now and 85% on possession. In the second option, known as the 40:30:30 scheme, the buyer can pay 40% now, 30% after six months, and the rest on possession,” he says.
The Prateek Group has also launched payment schemes for two projects – Prateek Stylome and Prateek Wisteria – where a buyer pays 15% at the time of booking, and the rest on possession. The company promises possession in six months on both projects. For its other projects, Prateek offers free covered car parking and power backup.
Ajnara is also offering a payment scheme on two projects – Ajnara Grand Heritage and Ajnara Daffodil. Buyers pay 60% at the time of booking, and the rest on possession, which is scheduled after six months. The Avalon Group, which has projects under way in Gurgaon, Bhiwadi, Neemrana and Vrindavan, is offering a discount of Rs 75 per square foot on bookings.
Kaushal Jain, managing director of the Arihant Group, says: “Festival season, especially Navratri, is considered auspicious for buying or investing in property. Understanding this popular sentiment, Arihant will be offering two window ACs in the Arihant Ambience project at Crossings Republik, Ghaziabad”.
High inflation and interest rates, and firm property prices, were a dampener in the NCR real estate market during the 2013/14 fiscal year. Developers expect a good start to the new financial year with Navratri discounts. A stable government at the Centre after the election is also expected to give the economy – and therefore the real estate sector – a much needed boost.