Dhanteras, Diwali brings cheers for real estate market
It is believed that new "Dhan" or some form of precious metal is a sign of good luck.
Nov 11, 2012
Source : The Economic Times
AHMEDABAD: Dhanteras brings yet another reason to invest in property this Diwali. Since the festival holds special significance and is considered auspicious, there is definitely going to be a beeline of investment buyers.

Dhanteras holds unique connotation, for the business community because of the customary purchases of precious metals. Dhanteras, which is also referred to as Dhantrayodashi or Dhanvantari Triodasi, refers to Dhan, meaning wealth.

It is believed that any purchases, may it be gold or property, will flourish ten folds. The festival is celebrated on the thirteenth lunar day of Krishna paksha according to the Hindu calendar.

On Dhanteras, along with the purchases, the owl form of Goddess Lakshmi is worshiped to provide prosperity and well-being. To mark the auspicious day, houses and business places are decorated and renovated. Colourful rangolis are designed to welcome the goddess of wealth and prosperity.

It is believed that new "Dhan" or some form of precious metal is a sign of good luck. Even property purchases are considered to be auspicious to augment this celebration.

Amdavadis are still crazy for buying property. With festive season just round the corner, there seems to be a tremendous rush for property purchase in the city once again.

Despite the fact that the boom in the property market is slower than the previous year, the enthusiastic display of property is still at its peak. Driving into the festive mood, the tradition drives the property purchase, especially in the residential sector.

In spite of a dip in the new launches and ventures, Dhanteras seems to be one of the most flourishing times for the realtors and the buyers. Dhanteras is the time when the realtors settle for new launches and this is also the best occasion for property investment considering great offers and best deals.

In attendance to the present market scenario and the projected slowdown, investments in real estate in Ahmedabad have been rising. Real estate builders deem that the global crisis has a significant effect on the property sector, but there are still a lot many new inquiries and deals.

However, they predict that this should settle on Dhanteras and the sale would be once again on track. There is still a lot of demand for residential plots, and 2 and 3 BHK houses. Many realtors are offering good schemes and discounts on purchase.

Although many might feel a crunch in the property sector, the many new projects launched every week is a proof that this industry still remains at its peak.

Despite the prevailing sentiments about the slowdown, the realty market in Ahmedabad has not been much affected. It is believed that during the churning of ocean by Gods and demons, Lord Dhanvantari emerged out with a jar of Amrit on the day of Dhanteras.


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