THE FESTIVE SEASON IS HERE...
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YOU COULD BANK ON THE
FESTIVE PERIOD TO INVEST SMARTLY AND NOT GET CARRIED AWAY BY
FREEBIES AND DISCOUNTS THAT COME YOUR WAY
THE FESTIVE season ushers in
a period of smart property deals for the ambitious investors.
Mumbai's property market requires large capital involvement while
investing in properties; therefore, correct analysis and appropriate due
diligence become even more important. It is important to maintain the
correct balance between offers, discounts and choices while investing in
Mumbai's property market.
Gaurav Shah, director, sales and marketing, Ravi Group says, “The dynamics of Indian real estate market reaches its apex during this time of the year as the nation prepares for the festive season. The season commences with Ganesh Cha truthi followed by Navratri, Durga Puja and Dussehra and reaches its peak around the festival of lights, Diwali. Buyer should always look for meaningful festive offers that help them realise their real estate dreams and also ensure that they are benefiting from the offer. The purpose of buying during the festive season is to benefit from the offer, so the motto of the consumers should be to buy the desired property at the lowest possible price.“
Experts point out that during the festive season, realty companies launch new projects an also promote their existing projects by offering significant discounts, gifts and other free bies. Buyers should keep a track of projects that are coming up, status of the project, one's budget and then, based on the shortlisted projects, look for discounts offered during the festive period.
“While offers and discounts are available, a customer has to personally like the property and not get lured with the attractive pricing or freebies associated with it. Once the customer has shortlisted twothree properties, he has to arrive at the best price after comparing the discounts the net result being what is the gross outflow divided by the number of sq ft of the carpet area,“ feels, Harjith D Bubber, MD and CEO, Rivali Park, CCI Projects.
INVEST SMARTLY IN MUMBAI'S REALTY MARKET DURING THIS FESTIVE SEASON
Experts suggest that all developers want to make the most of the festive season and of the prevailing market senti ment during festi vals and auspicious dates.
Consumers must research thoroughly; Analyse one's financial predicament; Determine on a deal that is most lucrative for the family; Search for banks that come out with enticing offers during the festive seasons; A pre-approved home loan could help the buyer secure one's dream property at the right time with maximum possible benefits.
Prabhat Ranjan, CMD, Olympeo Infrastructure Pvt Ltd suggests, “At present, the realty market is a buyer's market. The festive season could be more effectively utilised by the smart investors in negotiating with developers to invest in properties that are meeting their investment objective. Smart buyers could match their invest ment horizon, quantum of investment, the type of properties with varied options that are available currently at very attractive valuations. They could even make informal groups with friends and relatives and look for bulk deals, approach the marketers or developers and avail the best discounts.“
Realty experts believe that with major involvement activities in the realty sector happening around the festivals, there are several smart ways to chalk out the perfect dream house investment. With freebies like gold coins, club memberships, cars, holiday trips, etc, being in vogue for the realty sector, it is important to instead exchange them with a furnished house, a modular kitchen, early possession that will be beneficial to them in a broader spectrum.
POINTS TO NOTE FOR INVESTORS
“While buying a property in Mumbai during the festive season, it is very important for the buyers to carry out hisher research before making any investment. It is very important to have detailed infor mation about builders' track record. The price point should be taken care of with respect to the other projects and offerings. Finding out the appropriate deal and the best that can be acquired as per the budget and needs is one of the most important factors while buying a property during the festive season,“ opines Chintan Sheth, director, Sheth Corp.
The residential market, especially around Mumbai, in Neral and Karjat, currently offers some excellent options for serious home-buyers and the festival period could be the best time to make the buying decision. Experts emphasise on the following points while investing during the festive period: Home-buyers should identify their requirements based on the end use. Scout for high growth, upcoming localities in suburban areas, which offer excellent connectivity to the main city; Investors should also ensure the liveability index of projects.Liveability index should measure the quality of social infrastructure around them such as school, retail outlets, healthcare facilities and playgrounds within and around the project; A property buying decision should be made on factors such as price, location, developer credibility only and promotional offers should be considered as inducements to make an early decision; One can scout for bulk buying groups, which will help them avail huge benefits on selected properties.
Detailed due-diligence of project approvals, title of the land, construction status at the site, loan sanction by major banks and hidden charges verification, are very important steps while investing during the festive period. Such due diligence will help in early possession and save on rents and unnecessary interests.
Gaurav Shah, director, sales and marketing, Ravi Group says, “The dynamics of Indian real estate market reaches its apex during this time of the year as the nation prepares for the festive season. The season commences with Ganesh Cha truthi followed by Navratri, Durga Puja and Dussehra and reaches its peak around the festival of lights, Diwali. Buyer should always look for meaningful festive offers that help them realise their real estate dreams and also ensure that they are benefiting from the offer. The purpose of buying during the festive season is to benefit from the offer, so the motto of the consumers should be to buy the desired property at the lowest possible price.“
Experts point out that during the festive season, realty companies launch new projects an also promote their existing projects by offering significant discounts, gifts and other free bies. Buyers should keep a track of projects that are coming up, status of the project, one's budget and then, based on the shortlisted projects, look for discounts offered during the festive period.
“While offers and discounts are available, a customer has to personally like the property and not get lured with the attractive pricing or freebies associated with it. Once the customer has shortlisted twothree properties, he has to arrive at the best price after comparing the discounts the net result being what is the gross outflow divided by the number of sq ft of the carpet area,“ feels, Harjith D Bubber, MD and CEO, Rivali Park, CCI Projects.
INVEST SMARTLY IN MUMBAI'S REALTY MARKET DURING THIS FESTIVE SEASON
Experts suggest that all developers want to make the most of the festive season and of the prevailing market senti ment during festi vals and auspicious dates.
Consumers must research thoroughly; Analyse one's financial predicament; Determine on a deal that is most lucrative for the family; Search for banks that come out with enticing offers during the festive seasons; A pre-approved home loan could help the buyer secure one's dream property at the right time with maximum possible benefits.
Prabhat Ranjan, CMD, Olympeo Infrastructure Pvt Ltd suggests, “At present, the realty market is a buyer's market. The festive season could be more effectively utilised by the smart investors in negotiating with developers to invest in properties that are meeting their investment objective. Smart buyers could match their invest ment horizon, quantum of investment, the type of properties with varied options that are available currently at very attractive valuations. They could even make informal groups with friends and relatives and look for bulk deals, approach the marketers or developers and avail the best discounts.“
Realty experts believe that with major involvement activities in the realty sector happening around the festivals, there are several smart ways to chalk out the perfect dream house investment. With freebies like gold coins, club memberships, cars, holiday trips, etc, being in vogue for the realty sector, it is important to instead exchange them with a furnished house, a modular kitchen, early possession that will be beneficial to them in a broader spectrum.
POINTS TO NOTE FOR INVESTORS
“While buying a property in Mumbai during the festive season, it is very important for the buyers to carry out hisher research before making any investment. It is very important to have detailed infor mation about builders' track record. The price point should be taken care of with respect to the other projects and offerings. Finding out the appropriate deal and the best that can be acquired as per the budget and needs is one of the most important factors while buying a property during the festive season,“ opines Chintan Sheth, director, Sheth Corp.
The residential market, especially around Mumbai, in Neral and Karjat, currently offers some excellent options for serious home-buyers and the festival period could be the best time to make the buying decision. Experts emphasise on the following points while investing during the festive period: Home-buyers should identify their requirements based on the end use. Scout for high growth, upcoming localities in suburban areas, which offer excellent connectivity to the main city; Investors should also ensure the liveability index of projects.Liveability index should measure the quality of social infrastructure around them such as school, retail outlets, healthcare facilities and playgrounds within and around the project; A property buying decision should be made on factors such as price, location, developer credibility only and promotional offers should be considered as inducements to make an early decision; One can scout for bulk buying groups, which will help them avail huge benefits on selected properties.
Detailed due-diligence of project approvals, title of the land, construction status at the site, loan sanction by major banks and hidden charges verification, are very important steps while investing during the festive period. Such due diligence will help in early possession and save on rents and unnecessary interests.
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