Buying house? Pay upfront and get up to 25% discount
Mar 13, 2014
Source : The Times of India

 

AHMEDABAD: An HR executive working with a multinational struck gold in Prahaladnagar — a three BHK flat in a premium housing colony for Rs 50 lakh. “The developer had quoted the same amount for a 2 BHK unit two-three years ago in the same scheme. It seems this is a good time to buy,” says the 40-year-old professional who returned to her native after three years.

If you have money in hand, realtors are ready to welcome buyers with heavy discounts and freebies. Inquiries made by this correspondent, who posed as prospective buyer, revealed that sellers were willing to offer up to 25% discounts if the payment was made within 48 hours.

“The economic slowdown coupled with political instability has led to developers offering heavy discounts. The situation may change after the election results are out,” says a leading developer.

For instance, an upcoming posh residential complex on the SP Ring Road near new Chandkheda is priced at 45 lakh for a two-bedroom flat. Offer to pay cash and the price is instantly scaled down by 22%.

Similar is the situation in resale market. A 185 sq yard flat in a posh tower in Anandnagar was priced at Rs 80 lakh. When this correspondent inquired about the discount if full payment was made within two days, the seller quoted a revised price of Rs 68 lakh.

Insiders say that the downward trend started over two years ago when sales started slowing down due to soaring prices. Many were hoping NRIs to bail them out this winter but a poor response has left many desperate. Desperation to sell and raise liquid cash was apparent when recently many builders started offering scheme — a free car with a bungalow, buy a plot and get construction free, buy a luxury apartment and get furnishings free.

Yogesh Bhavsar, president of Gujarat Institute of Housing and Estate Developers ( GIHED), admits that a few builders are offering huge discounts. “It varies from case to case. Those who have holding capacity will never offer discounts. The rest would have no choice,” he says.

Latest Realty News

RMC intensifies tax recovery drive
Mar 13, 2014
RAJKOT: Intensifying its tax recovery drive across the city to meet its financial year target of Rs 170 crore, Rajkot Municipal Corporation (RMC) is using various means from beating of drums to warn defaulters to disconnecting water supply. The local civic body disconnected water supply of five defaulters on Tuesday.
Surat Municipal Corporation recovers Rs 480 crore property tax
Mar 13, 2014
SURAT: Against the current demand of Rs 607 crore for year 2013-14, recovery department of Surat Municipal Corporation (SMC) has recovered property tax of Rs 480 crore by the end of February, 2014.
Hospitality: A lucrative zone for realty growth in Gujarat
Mar 12, 2014
AHMEDABAD: Statistics show that Gujarat witnessed 6 per cent growth in property prices in last one year and the property price index in the state remained volatile. However, what the statistics does not reveal is the fact that during the same period, many of the cities that National Housing Bank’s Residex tracked down, did witness either no change or downward change.
Low demand pushes down cement prices in Gujarat
Mar 08, 2014
AHMEDABAD: Despite the ‘development’ plank in BJP’s Prime Minister candiate and Gujarat chief minister Narendra Modi’s electoral campaign, cement prices, a major commodity that gets used in the infrastructure sector, have not seen much upturn in Gujarat this year. For that matter, last quarter, prices in the Ahmedabad market were rather down by 10-13 per cent owing to slowdown in demand from end user industries like real estate and infrastructure.
Real estate players wake up to digital media to boost sales
Mar 08, 2014
AHMEDABAD: From setting up branded YouTube channel that showcase walkthroughs of upcoming projects, to hiring social media marketing firms, real estate players such as Godrej Properties, Tata Housing and Adani are joining the digital media marketing bandwagon in a bid to strengthen sales.
Aadhar Housing Finance Forays into Gujarat
Mar 08, 2014
AHMEDABAD: Aadhar Housing Finance Limited (Aadhar), a segment focused housing finance company, today announced the launch of its operations in Gujarat to provide housing finance to the lower income segments (whose monthly income is between Rs 5000 to Rs 25000). The Company currently operates across 7 States namely Madhya Pradesh, Uttar Pradesh, Chhatisgarh, Odisha, Jharkhand, Bihar and West Bengal.
Two areas cut from agriculture zone in Ahmedabad
Mar 07, 2014
AHMEDABAD: The state urban development department has agreed in principle to exclude Ghuma and Shela from the ‘agricultural zone’ category in the latest development plan for the Ahmedabad. This decision was taken late on March 4 night, claim sources in the department. Besides this a new industrial zone is being proposed in Santej and Rakanpur on the outskirts of Ahmedabad, which were earlier included in the agricultural zone.
Gujarat shows the way in PPP model
Mar 06, 2014
AHMEDABAD: Public Private Partnerships, better known as PPP, in infrastructure development are vital components for the rise and growth of any city in general and its property market in particular. Since, the government in most of the cases either lacks the funds or the expertise to develop the big ticket project, this model has been envisaged for fast track development. However, since its inception as a viable model of developing infra projects, it has been in the news for all the wrong reasons
No need to pay full stamp duty on jantri rates in Ahmedabad
Mar 04, 2014
AHMEDABAD: In an important judgment, Gujarat high court on March 3 held that registration of property cannot be made mandatory on payment of stamp duty according to the jantri rates only. Thus, paying 5% stamp duty of the market rates as prejudged by the ready reckoner, will not be the deterrent in registration of property deals.
Gujarat: Moderate appreciation makes entry point attractive
Mar 04, 2014
AHMEDABAD: Statistics show that Gujarat witnessed 6 per cent growth in property prices in last one year and the property price index in the state remained volatile. However, what the statistics does not reveal is the fact that during the same period, many of the cities that National Housing Bank’s Residex tracked down, did witness either no change or downward change. Out of the 26 cities that it covered across the country, only 12 cities witnessed marginal appreciation, and two cities of Gujarat

Latest Realty News Of State

Realty Talk's