The Commencement of the Festive Season has proved to be very fruitful for the Real Estate Sector. A strong wave of increased property sales flooded the market right with the advent of Navratri, which is only the first of many festivals to follow in the coming month.
Dhanteras & Diwali are considered to be the most promising festivals in terms of sales for the Real Estate Sector. Both the festivals are marked with auspiciousness and have a special place in the heart of the homebuyers who wish to make big purchases. The Indian consumer’s behavior is highly influenced by the Auspicious Occasions as they are considered to bring great fortune along with them. This sentiment is further edified with magnanimous festive offers.
The Lockdown that was implemented to curb the spread of the Coronavirus Pandemic had a severe impact on the Economy as a whole. One of the most affected sectors was real estate with a major decline leading to overall depreciation. It also lead to fall of prices as the Real Estate Developers due to the shortage of demand. The price slashes have also aided the rise of Real Estate Sector again as they have posed a captivating opportunity for the buyers.
There has been a dramatic increase of 100% in the Property Booking and Sales since the Collapse of the Market due to the Coronavirus Pandemic. This is great news for everyone as the Real Estate Sector makes up for a big part of the overall Economy. The Market of Real Estate influences the economy in a major way as it enables overall growth with flow of monetary funds.
The Real Estate Sector is making a steady and speedy recovery post the normalcy restoration. During the Festive days of Maha Navratri, the sale of Houses in many cities of the country has witnessed a 100% growth in comparison to the last year. This is a major breakthrough for the Real Estate Sector as the rise comes despite the ill-effects of the aftermath of the economic backlash the country had to face due to the Pandemic.
The main states with the highest increase are Madhya Pradesh, Rajasthan, Gujrat & Delhi further expected to report a greater increase in property sales in the upcoming time.
Real Estate Organizations like Naredco & CREDAI have also reported major sale during the time of Navratri. As per the records of these organizations, the sale of houses has more than doubled since last year’s Navratri.
Even thought the Real Estate Developers were faced with a grave situation in the past, they are now putting their best foot forward to appeal the majority of the potential buyers with their respective projects.
There are many other reasons behind the sudden and later gradual increase of property sales. The Festive Season has enabled many Real Estate Developers to lure the potential homebuyers with appealing offers that resonate with them. Easy Payment Plans and Easy Availability of loans is another reason why the property sales are booming. It is easier than ever to make a real estate investment right now. In addition to being easy, it is also very happening considering the festive deals that are going around in the market. These deals include massive discounts, additional benefits like Modular Kitchen, payment plans like never before etc.
In addition to the festive offers and government reforms in the policies for homebuyers, there are also initiatives being made by the Developers to boost their sales teams and channel partners. Many great and lucrative incentive schemes and additional offers are introduced to give them the right push to work harder and drive in significant and rewarding leads which turn into sales with great potential. The sales teams are also given the chance to earn amazing gifts like a car or gold coins to enthuse their spirit.
Punjab is among the top cities that have witnessed the upsurge. People have also considered investing in properties in Punjab, specially Tricity including Chandigarh. One of the Top Developers of Punjab, SBP Group has also seen a significant rise in the number of sales made with the begging of the festive season. The hype is especially beneficial for affordable luxury housing townships like City of Dreams, Mohali and Projects like Gateway of Dreams, Zirakpur. These Properties provide the residents with A1 living and hence have a higher chance of being chosen by potential homebuyers. City of Dreams is also offering additional benefits worth approximately 4 Lacs along with dreamlike homes.
If you considering investing in a Property in Punjab, there are many promising projects of SBP Group that offer a great lifestyle at very pocket friendly prices.