CJ REPORT: 'HEAVY DISCOUNTS TO WARD OFF SALES BLUES'

By CJ Seema Singh in New Delhi

The economy may be in doldrums, but real estate developers in Delhi NCR are pulling out all the stops to boost flagging home sales this Navratra with cash discounts and freebies.

“Navratra is regarded as the best time invest in a property. So many people choose this occasion to buy and move into a new house,” said Sanjay Rastogi, Director, Saviour Builder.

Sensing the demand and the auspicious significance of the festive season, property dealers have come with new investment plans to woo the buyers. The incentives on offer for home buyers include cash discounts, EMI waivers, free value addition to existing projects and electronic freebies.

For instance, KDP developers are offering scheme where buyers have to pay only per cent of the project cost, initially, and a waiver on EMI for up to 18 months in its MGI Maple, Govindapuram, Ghaziabad. In addition to this, the real estate group is also giving a five per cent discount to government employees.

Supertech Limited, one of the leading real estate developers in North India, has also announced special offers for Navratra.


The company has announced a discount of up to 10 per cent on all studio apartments at its proj- ect located on the Yamuna Expressway. Supertech too is offering an EMI waiver of up to 18 months. The company is also offering a six per cent discount on its latest launch Araluxe, luxury apartments in Gurgaon.

Some of the other builders in the fray are: Techman Buildwell, offering a ` 150 per sq. feet discount on its project, Moti Residency in Raj Nagar Extension and a discount of ` 200 per sq. feet on 3 BHK flats by real estate developer K World for its project KW Srishti in Phase- I and Penthouses in Phase I and Phase II, Raj Nagar Extension.

Yet not all are taking the discount route. Krish Infrastructure is offering an LCD set on every booking along with an EMI waiver of up to six months in their ready to move in Krish City, Bhiwadi.

LCD offer is also available for projects rolled out by Panchsheel Buildtech, a Noida based developer. Developer SVP Group, meanwhile, promises to keep its customers cool by providing free air- conditioning for its project in Gulmohur Greens, Mohan Nagar.

If reactions from developers are anything to go by then the incentives are indeed reaping dividends.

As Sanjeev Srivastva, Whole Time Director, Crossings Republik puts it.

“ A lot of property launches take place to mark the festive season.

The overall sales too go up by 10- 15 per cent during the period. We believe that a little initiative from our part will further strengthen our relationship with the buyers,” said Srivastva.

The incentives on offer include cash discounts, EMI waivers, free value addition and electronic freebies.