The real estate sector has emerged as one of the most preferred sectors for investment, especially on the festive occasion of Diwali. The sale of projects across both residential and commercial segments increases as people look at them as good investment opportunities. Simultaneously, developers offer considerable discounts during this period, making it an even more preferable buying option with comparatively lesser investment.
Sumit Agarwal, Director (Sales & Leasing), Grandthum said, “Real estate inquiries have increased significantly as the festive season approaches. People are more likely to invest in real estate and purchase residential and commercial properties because they are attached to cultural values and long-standing customs that associate festivals with luck. Another practical reason is that when consumers decide to purchase properties during certain times, they can conveniently access the pro-customer offers that developers are also launching, such as freebies, vouchers, presents, and discounts. Also, retail stores or commercial setups witness massive footfall during this period due to a number of festivals around the corner. The festive seasons are when the real estate market has its highest sales, and this year is projected to be no exception, thanks to rising income stability, a variety of projects, and new launches.”
According to Robin Pahuja, Director, ElitePRO, “In India, the Festival season marks the start of a prosperous new year. Buyers regard this as an auspicious time to invest in properties that would bring them luck and remarkable returns in future. During this time, a sizable amount of real estate transactions occur. The fact that the economy is booming and attitudes are favourable make this festival season unique. Additionally, the inventory is under control, and with the recent flurry of new launches, buyers of real estate now have the choice of both completed and unfinished projects. In the real estate industry, a frenzy of activity is anticipated. Both residential and commercial projects witness considerable sales during this period.”
Ashwani Kumar, Pyramid Infratech added, “This holiday season, the luxury real estate industry will maintain its pace. The market for the luxury property will remain high in the second half of FY22 as the share of sales of Rs 1 crore and above increased to 25% in H122 from 20% a year before. I anticipate luxury real estate to do well because festival season is when traction is at its highest. Long after the festival season has ended, the traction will still be strong. The luxury market offers a win-win situation for everyone because there are no supply-side restrictions, and end users rule the market. The sale of projects dramatically increases during the festive season as people move towards kickstarting profitable investment opportunities.”
Rajesh Saraf, Managing Director, Axiom Landbase stated, “As the festive seasons are approaching, real estate enquiries account for a remarkable increase. People are more likely to invest in properties and buy homes due to their attachment to cultural beliefs and long-standing traditions, which link festivals to auspiciousness. Another practical reason is that developers are also launching pro-customers offers like freebies, vouchers, gifts, and discounts, and they can easily have access to them when they decide to buy properties during those times. The real estate sector witnesses maximum sales during festive seasons, and due to the growing income stability and the presence of diverse projects and new launches, it is expected to rake in moolah this year as well.”
As per Jimmy Dung, President, Galaxy Novelty Street, “We expect good buyer turnouts this festive season. The commercial real estate sector is in a good place and is ready, with a good amount of space leasing activities happening prior to the festive season as well. Developers are coming with attractive offers and deals on finalised bookings. Other investor-friendly incentives are also being given to increase buying and selling pursuits in the sector, and the festive seasons are the right time for it.”