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Diwali To Perk Up Indian Real Estate Industry

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




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