Real estate developers are offering homebuyers free merchandise like free installation, easier payment terms, sweepstakes, and cars, and have renamed old projects that are driving sales, experts say.

The busy Christmas season is approaching the real estate industry as home builders offer high discounts and free goods to drive sales in the eagerness of lenders and courts, and mortgage rates have historically fallen slightly, allowing buyers to do rare deals.

Developers have started new campaigns for old projects and are promising big discounts in a variety of ads just before the Pitrupaksh or Sradh period when most people don’t get any offers.

Some people do the basics over time and draw on the dashed line during the quiet time in Navratras that follows. Developers use it as a warm-up to planning their marketing blitzkrieg.

Unlike last year when Maharashtra and Karnataka broke stamp duty on transactions, builders focused on selling unsold inventory at discounted prices.

Lenders helped too. Housing Development Finance Corporation (HDFC) announced on Sept. 21 that it will be offering 6.7% home equity in a celebratory offering, along with a number of mortgage lenders who have cut interest rates to increase demand. These include the State Bank of India (SBI), Baroda Bank, Kotak Mahindra, and PNB.

As the MMR market prepares for the launch of a number of new products over the holiday season, Delhi-NCR developers are offering gifts such as:

ANAROCK Research estimates that the supply of new housing in the top 7 cities will increase by 64% to 2.10 lakh units in 2021, from 1.38 lakh units last year.

Of the new offering in 2021, nearly 98,400 units were launched in the first half of 2021 and 1.12 lakh units are expected to be used in these cities for the remainder of the year.

In the second half of 2021 (holidays) almost 16,000 NEW products are expected to come onto the NCR market, a growth of more than 50 percent compared to the first half of 2021. More than 65 percent growth for new launches in the second half of 2021 MMR will also be available for around 36,000 new units expected in the reference period compared to 21,700 units in the first half of 2021.

“The planned new launches will only take place if there is no third wave in the country and the current momentum of the vaccination campaign continues in the future,” said Anarock Group President Anuj Puri.

It’s raining deals this holiday season                                                  

“Now there are festive perks for homebuyers as developers offer deals in the form of instant discounts, deferred payment plans, and other incentives. Coupled with a further decrease in mortgage rates to 6.7 percent, homebuyers have never seen this before. . With such incentives and the fact that most potential homebuyers want their home purchase to be completed within the next three months, the stars are a good holiday season to be good for the real estate sector as a whole, according to recent JLL surveys. said Samantak Das., Chief Economist and Research Director and REIS, India, JLL.

He said stable house prices, cheap deals, and reduced interest rates are in the right place to boost sales.

“Affordable synergies have proven themselves this Christmas season and with homeownership high on the agenda for people of all ages and income levels, the market is expected to see sales growth of 30-35% in the second half of 2021 compared to up to that first half of 2021. the year, “he said.

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