NCR realtors to clear stock this navratri season
Apr 03, 2014
Source : The Economic Times

 

DELHI: THIS navaratri both Gurgaon and Noida realtors though focusing on clearing inventories, are going with their independent strategy. Gurgaon developers are doing everything to meet their project completion deadlines so as to expedite sales whereas Noida realtors are doling out freebies and discounts to rap up inventories.

Ramaprastha and CHD developers are some prominent Gurgaon-based players taking up the challenge. "We believe in brand value, recognition and loyalty and so do not require relying upon auspicious events for our business fortunes or any launches. We adhere to quality and timely delivery," says Nikhil Jain, chief executive officer of Ramprastha Developers.

"No freebies work until you pay attention on your buyers to resolve their problems. Eventually, buyers want a home at reliable cost with best services," emphasises "Ravi Saund, COO, CHD Developers.

Ramprastha is focusing on its various projects lined up in sector 32, Dwarka Expressway. Premiera is under construction and The View, Edge towers and The Atrium are scheduled for delivery by next quarter. CHD too has projects with their completion by end 2014 and has also bought 300-acres land in Sohna Road for the yet to be announced launch.

Anil Kumar Sharma, chairman and managing director, Noida-based Amrapali Group and president, CREDAI (Confederation of Real Estate Developers Association of India) -NCR is a strong propellant of festivities as a tool to recover losses. He opines, "Gifts are a part of custom during festive season. This is the perfect time to offer discounts and incentives on houses ."

UNNATI Fortune Group, another Noida players has project Aranya, located in sector 119. It is offering free club membership, free parking facility and power backup on bookings. The special offers and freebies cost between Rs 4.5 to Rs 5 lakh. Anil Mithas, CMD, Unnati Fortune Group says, "Since time immemorial, most Indians tend to link property acquisition with auspicious dates."

Realty firm Gaursons of Noida is offering two attractive payment plans in Gaur Properties. It is offering a scheme where buyer will pay 15 per cent of the cost at the time of booking and rest 85 per cent at time of possession and in the second option which is 40:30:30 in which buyer can pay 40 per cent now, 30 per cent after six months and the rest on possession.

"Last navratra, buyers converted our sale into more than 500 units. We were able to clock nearly 20 per cent hike in sales growth and so expect to do the same this time too," says Manoj Gaur, MD, Gaursons India.

Amrapali Group this year is offering 1 to 3 per cent discounts for booking in all its ongoing projects in Noida, Greater Noida (West) and Yamuna Expressway and also giving gifts such as home appliances, electronic gadgets et al.

Jones Lang LaSalle, a prominent realty consultancy firm has been critical about the practice of offering festivities and the real estate scenario in both NCR townships. JLL India's spokesperson explains, "Freebies and festive offers create artificial demand that generally proves to be counter-productive as they expose the desperate position of the developer and in turn hurts their brand value and reputation.

So, national developers do not engage into such practices. Gurgoan being the economic capital of NCR has negligible inventory as it doesn't require accelerating demand and get marketed. The developers here are sufficient as far as the capital is concerned, whereas Noida-Greater Noida, projects get delayed due to various issues including that of the capital."

 

 

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