Festive Cheer For The Real Estate Sector
28 Oct 2015
The festive season has reached its boiling point. With Diwali round the corner, the market is swarming with high octane activities. Festive season brings a surge of positivity in the market. Especially in the property market. The auspicious occasions of Dussehra and Diwali propel people to consider buying house properties. As along with festivity comes a hoard of offers, tax exemption, best deals and lot more. No wonder the market takes an upward swing in the festive time of the year. A time which brings a wave of excitement amongst the developers and buyers alike.
Dhanteras, the first day of Diwali, holds special significance, as it is the festival of wealth. It is customary to buy gold or property on this day as it is believed that new purchases bring good luck. Hence, it provides a lot of promising prospects to the developers. The developers have geared up to reap the full benefit of this occasion and this time, as an added advantage, times seems quite favourable for the buyers to consider investment in new property. The slashed repo rate, attractive offers by the banks, dropped interest rates will certainly help the market to soar.
The festive season of last year was an important one, as it brought the ailing realty sector back on track, and it has been going quite strong ever since. The industry experts believe the momentum will continue until mid-2016, as there is huge demand for 2 & 3 BHK flats. The demand had always been there, but the other factors like high interest rates were adding to the reluctance of the buyers, which is not the case any longer.
If we have to talk about the Pune realty market, in particular, it is common knowledge that it held on pretty nicely even in the difficult times thanks to the IT sector of Pune and the constant demand for luxury and semi-luxury homes. With the grand prospects ahead the builders and developers in Pune are all set to welcome the grand Indian festive season with open arms.