Mumbai: The much-awaited auspicious time of the year is here, when people look forward to spending money on several items, especially gold and homes.
With the real-estate market not doing well, builders and property developers see Dussehra-Diwali period as the time which boosts the slow sale.
To attract buyers, various offers and schemes, including cash discounts, no registration or stamp duty fees, no EMIs till possession, free home appliances, gold coins, flexi-payment plans are extended.
Ashwin Sheth Group, a leading developer in the Mumbai Metropolitan Region, has announced subvention scheme for their Sheth Zuri project in Thane.
According to the group spokesperson, this scheme has been launched keeping in mind the festive seasons of Dussehra and Diwali since homebuyers prefer booking their dream home on an auspicious occasions.
“Under the scheme, a homebuyer will have to pay a nominal five per cent on booking and the balance payment on fit-out possession. No pre-EMI interest will be charged from those opting for the subvention scheme.
Banks offer subvention scheme only to reputed A-Grade developers they place their trust in, and Ashwin Sheth Group is one of such distinguished realtor,” said Maulik Sheth, director, Ashwin Sheth Group.
Interestingly, not just builders, even leading online real-estate platforms are offering deals to lure prospective homebuyers.
Offering a word of caution, property experts suggest homebuyers should always do a background check. Mudassir Zaidi, executive director-North of Knight Frank India remarked, “The method to buy a property remains the same.
One should not get swayed unnecessarily by the festive offers. The basic ground work and research has to be done properly and deciding basis festive offers should be over and above the selection criteria.
Moreover, the best idea should be homebuyers look for straight forward effective discount deals rather than any deal that involves any financial jugglery.”
He suggested a purchasing an underconstruction property should first check if it is RERA compliant, followed by checks like information on project approvals, construction status, developer back ground and if there is any ongoing cases in National Company Law Tribunal and real estate regulatory authority.