The economic activity in many states has been hit hard due to the second wave of the pandemic in India and some important sectors have already started impacting due to the prevailing situation. It has already put brakes on the recovery of the real estate sector which is the second largest employment generator.
After the discontinuation of stamp duty benefit by the Maharashtra Government, the real estate sector which witnessed a strong revival in the last two quarters is now looking forward to the auspicious occasion of Akshaya Tritiya to keep the sales momentum going.
After the loss of business on Gudi Padwa due to lockdown following Covid-19 second wave, developers are hoping that Akshay Tritiya may bring some business. Therefore, several have come up with offers to attract buyers.
Like The Wadhwa Group is running an umbrella campaign, 'Rise & Shine' homes for their projects, offering zero stamp duty benefit to homebuyers.
Bhasker Jain, Head – Sales, Marketing & CRM of this group said, "The real estate sector witnesses positive sentiments flowing in the market during the auspicious times like Akshaya Tritiya which further spike the demand for properties every year. This Akshaya Tritiya and after assessing the current pandemic situation, we are offering our buyers an option to Book Now and avail the Zero Stamp Duty benefit across our projects which will ease their financial burden to some extent. We have enhanced and made our processes very easy for our customers by providing online assistance with the help of virtual site tours so that they can book their dream home with a hassle-free experience even when they are at home."
Similarly, another real estate firm, Vijay Khetan Group considering potential home buyers on this festive season is offering EMI holiday for 12 months along with zero Stamp Duty benefit to its buyers.
Anuj Khetan, Director, Vijay Khetan Group said, "Making a purchase decision during festivals and auspicious days have always been preferred by the home buyers. Usually, they wait for such favourable days like Akshaya Tritiya to invest or buy their dream home by availing of flexible deals. Considering this current pandemic scenario, we have come up with offers that are exclusive for the homebuyers that become an attractive value proposition amidst the economic slowdown thereby boosting their confidence. We are optimistic that this season will give the much-needed positivity and hope the real estate sector needs."
Interestingly, to lure homebuyers developers have a big bouquet of offers like price benefits of upto Rs 5 lakh, lucky draw (chance to win a car, TVs and other gifts), concession on stamp duty, easy payment plans, flexi pay options, zero floor rise, zero PLC and price assurance are among others.