- Flat sales go up
- Luxury segment houses sale tops the list
Whether to start a new business or to buy a new house, people of Telugu states have a sentiment to begin their new projects on Telugu New Year Day- Ugadi festival. In fact, did the real estate sales improve after Ugadi? The builders say that the sales have picked up speed after sluggish sales recorded in the last quarter. On the whole, it is a welcome development to note that there is an increase in property sales with effect from Telugu New Year. Apprehensions are being expressed over the advese impact of the increasing lending rates and increasing prices of properties.
In the post-Covid scenario, the property sales have evoked mixed response. Affordable home sales and that of the ordinary apartments did not progress along the expected lines. However, the luxury apartment sales and the units in sky-rise structures have increased manifold. The number of customers buying properties in projects and ventures belonging to builder with a lot of credibility has increased.
While the Telugu people has Ugadi sentiment, the Maharashtrians have Gudipadwa – Maharashtra new year- sentiment. Developers of that state make attractive offers to the people whether to buy a flat or to book one. Importantly, the builders offer either concession in stamp duty or the complete waiver to encourage people to buy properties. They also float their new projects on the festival day. Some builders also offer to bear EMIs for about one year to attract the customers. The builder will bear the EMIs for one year on behalf of the customers. Moreover, they also offer concessions in per square feet price of the flat. Some other builders give free furnishing of the flats. As a result, many prospective buyers make a beeline to various builders to buy new homes. The bankers also give attractive festival offers to the public like reduction of the lending rate on home loans, reduction of processing fees or its complete waiver. If similar offers are made in Telugu states too, many more will come forward to buy flats.
