Diwali To Perk Up Indian Real Estate Industry

Indian real estate industry that was hit during ShraadhAnuj Shah, a Delhi based broker said, "the main
awaits Diwali, to gear up the demand. Banks, at theattraction for most of the people is the easy home
other end, have also cut down their interest rates onloans on offer and plus the fact that builders are willing
home loans and real estate developers in India areto bargain prices, and offer relief in other fees, and
hoping for a good time.charges, property sales can pick up in the Diwali
With a view to cash on the festive spirit, developersperiod."
have also been coming up with attractive schemes toAnother Delhi broker, Deepak Jain, commented on the
let people buy their properties. Besides, some haveprofile of the enquiries and said, "We have been
planned to launch their projects around Diwali days, toreceiving a number of enquiries from the segment of
time their entry in the markets during this favorable'working-class' intending to reap the benefits of Diwali
part of the year.schemes".
Take Amarpali developers for instance. The companyHowever, RK Aggarwal, a Real Estate agent, brought
will be launching their township 'Hi-Tech City' in Jaipuranother side of the coin and informed, "Many people
and 'Modern Township' in Indore, this Diwali.are apprehensive about the genuineness of some of
Delhi-based construction group BPTP has come upthese schemes. As investing in a flat is a big thing, the
with a special offer for the potential buyers in Parklandbuyer wants to be very sure of the investment, and
Faridabad, in which one has to book during the festivalthe credibility of the developer really matters."
period and their EMI's will start after 2-years.A rate cut of 0.50-1 per cent in home loans in India
Triveni infrastructure Development Company Ltd hasprobably would drive people to consider property
tied up with leading financial institutions, offering easybuying, he added.
loans and flexible payment plans to the buyers. In fact,Moreover, the Dussehra-Diwali season is considered
a real estate company in New Delhi has reportedlyan auspicious time to invest in a new house. The Indian
been offering Maruti SX4 to the clients who wouldproperty markets, meanwhile, are set to take on Diwali
purchase an apartment unit from them in a particularseason, and only the time would tell who would benefit
time period.the most?developer or buyer.