Delivery & deals

Geetu Vaid

Though realty fortunes have failed to see a major upturn so far in 2016, yet with the start of Navratras last week positivity is palpable in the real estate market all over the northern region this festive season. Festive offers, discounts and freebies have almost become a  ‘ritual’ for developers, especially those in the NCR region. However, this year there is a significant shift in perspective as a number of developers, be it the tricity or NCR, are focusing more on completing the projects and handing over possessions to the existing clients rather than trying to lure the new ones with freebies and discounts. The malady of delay that has been plaguing the sector and which had led to a very strong wave of consumer activism this year, has made the developers focus on the completion of pending projects to win the trust of buyers.  “The happiness that people get from moving into their own homes is incomparable. This festive season our customers are experiencing the joy of moving into their own homes. It delights us to see them welcoming Goddess Lakshmi into their own new homes. With this sentiment, we are handing over home keys to our customers in the month of October 2016,” says Prateek Mittal, Executive Director,  of tricity-based Sushma Buildtech Pvt. Ltd. “Festive season is not only about higher sales, but is also a time when possessions of ready units are taken by the owners. We are planning to bring smiles as we will have around 4,000 units offered for possession in the next couple of months during the festive season for our project Gaur City”, says Manoj Gaur, President CREDAI-NCR & MD, Gaursons India Ltd. 

Ajnara India Ltd. has plans to offer possession of about 5,000 units in the next few months across its several projects, riding strong on the festive season. “We and our customers will have a lot of reasons to smile as not only will we witness better sales, but a lot of homes will lit up this festive season”, shares Ashok Gupta, of the group. 

TDI group, Mona Townships, EMaar MGF have also been offering possessions in the tricity region. 

On the basis of a report and almost a dozen projects to get completion certificates, Manoj Gaur stated that almost 15,000-20,000 units across Noida and Greater Noida are expected to see possession by Diwali this year. 

With ready-to-move in units being more in demand, there are some exciting offers lined up for this season. According to Akshay Taneja, MD TDI Infratech Ltd the company is offering different discounts at TDI City, Mohali. “For the customers of Tuscan Residency, the price of units has been slashed down to Rs 36 lakh from Rs 40 lakh. In TDI Affordable homes, we are giving a special festival discount of Rs 75,000 on booking”. 

Most developers are utilising this festive season to build up trust and enhance brand value in the market and the offers are reflecting this stance. 

As Gaurav Jain CEO & MD, some developers  Jindal Realty Pvt. Ltd.  says, “This festival season will bring in cheer in terms of best prices, better payment terms and above all a delivery promise which is backed by all approvals being  in place.  For our various products such as plots, built up floors as well as villas, we have geared up with new product, very attractive payment terms and a strong delivery committment backed by ‘All approvals in place promise’”. 

In a cash strapped market which has been on a correction mode tangible cash benefits and discounts are not very common this year even though are offering  service tax and transfer fee waivers, free parking spaces. But if you are timing your house purchase around this time then offers of value additions including modular kitchens, woodwork, ACs etc will be more common. 

Offer itinerary

While Noida, Greater Noida and Gurgaon developers have had had a tough time with buyers protesting and taking builders to task for various lapses this year, the maximum number of offers are for projects in these micromarkets. Very high inventory overhang and oversupply has actually put the developers in an overdrive to advertiuse the festive offers to get fresh bookings for under-construction projects as well as for new launches. Supertech Limited, has launched "Super Value Sale" offer in which the buyers will get a gift card of Amazon upto Rs 2 lakh, free club membership, free maintenance for a year, free car parking, etc. on every purchase of flat in various projects at Noida, Greater Noida, and Gurgaon. The company is also offering Subvention plans for all the residential projects.

Prateek Group, has offers lined up for its several projects that include Hyundai Grand i10 Car, Scooty and Refrigerators through lucky draw, Gift/Gold Voucher with every booking etc. The group is offering IPhone7 with every booking and attractive all inclusive price and payment plans for the customers Prateek Edifice and Prateek Stylome projects. 

Antriksh India has come out with an interesting offer during this festive season where the company is offering fully furnished apartments for its project, Antriksh Grand View, located at Sector 150 along Noida Expressway. The apartments will come with air conditioners in all rooms, electrical fittings, lights, modular kitchen and woodwork. “Rather than offering a property, we want to gift a home to all our customers”, says Rakesh Yadav, Chairman, Antriksh India.

Another NCR-based developer VVIP Group is offering specialr price of Rs 18.10 lakh for 1BHK,Rs 26.64 lakh for 2 BHK and Rs 39.90 lakh for 3 BHK (All inclusive, registry charges extra)  up to October 11.

Ajnara India Ltd. is giving away a Honda Activa Scooter on every booking till October 10 in their project Ajnara Integrity. 

Ascent Buildtech Pvt. Ltd. will be celebrating its10th anniversary this festive season and giving anniversary discount up to Rs 10 lakh in their projects Satya VillaDe, Savy Homes, Ascent Arcade & Royal Tower.

Apart from these are the offers involving easy payments and no EMIs till possession. Though the realtors are expecting a boost of 15 to 25 per cent in sales in festive season, it remains to be seen how the cautious buyers lap up these offers.