Festive season continues to increase realty sales

This year’s Dussehra and Diwali are over. However, festive discounts and special offers are still available in both the residential and commercial real estate sectors, pushing up more sales across India. Real estate experts predict property sales will continue through the latest season until the Pongal holiday in January 2023.

This festive season comes during a time of high customer demands across all sectors; compared to the other sectors, real estate has experienced the most significant increase. Moreover, this festive season’s demand has been fuelled by solid market sentiments similar to those already seen by Covid.

When interest rates are increasing, builders have come up with festival-specific sops, such as easy EMIs and innovative funding models, to endorse the time homebuyers. The October-December quarter (Q4) of 2022, which generally watches healthy demand, is expected to include the tradition this year. It would sign up a substantial year-over-year jump in homes sold.

The pandemic’s recovery has also driven demand in the corporate world, rapid booster shot efforts, and emerging workplace trends. Since several months ago, the real estate business has been growing, which is likely to continue. Demand from small and new companies for office space has increased.

Mr. Kushagr Ansal, Director, Ansal Housing, said, “There is no doubt that the realty sector will also get this response in 2023. The manner in which the customers have expressed their interest this year is a good sign for the sector.”

Mr. Dhiraj Bora, Head – Marketing and Communication Paramount Group, said, “The residential real estate segment is witnessing a boom during this festive season. Homebuyers usually tend to invest in properties around the festive season because it is considered an auspicious period for home buying.

By Prabeen