Builders are offering flats for at least 30 per cent less than prevailing rates to attract more buyers and revive the realty market
Builders are offering flats for at least 30 per cent less than prevailing rates to attract more buyers and revive the realty market
The past few months have been good for those planning to buy a house. And with Gudi Padwa and the summer
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vacations ahead, builders have lowered prices considerably. This has reflected in the increase in theu00a0 number of buyers. Current real estate prices are at least 30 per cent lower than those a few months ago.
The Lodha group, which is offering flats worth Rs 1,999 per sq ft in Dombivli recently, managed more than 150 bookings in a day. "And with Gudi Padwa tomorrow, we are expecting more buyers," said Abhishek Lodha, director, Lodha Builders.
Dharmesh Jain of Nirmal Lifestyles too claims that he got a good response from buyers and he has something special planned for Gudi Padwa. Said Vibhoo Mehra of Mumbai Properties, "A builder who launched his project in Andheri recently, offering flats for Rs 7,600 per sq ft, received more than 100 bookings.
I too am negotiating many deals now." He added, "The real estate market which was a desert some time ago is at least seeing buyers now. This is a good sign."
Another realtor, Sangeet Kumar, added that builders will offer more discounts in the summer vacation period.
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Real estate experts say that builders would see even more buyers if they provided ready possession of flats. "There's no doubt that buyers prefer purchasing flats during the summer vacation and Gudi Padwa. But those who have the money want ready possession, which the builders aren't providing," said Ajay Chutrvedi, a real estate expert.
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