The ideological osmosis of religious and cultural symphony plays a significant factor in increased property investments during festive times. The festive season is the most favourable time for investment in real estate. Indian homebuyers are attached to their rooted value systems and invest in heavy-duty assets like real estate according to their long-held beliefs of auspiciousness and inauspiciousness.
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The most recent one in the festive season line-up comes Chaitra Navratri, which will begin on 22nd March this year and continue for nine days. There will be a massive uptick in commercial and housing sales due to buoyant demand, and a vortex of attractive discount offers designed for investors if real estate experts are to be believed.
Talking about the same, Sanchit Bhutani, Managing Director, Bhutani Grandthum, said, “Religious sentiments and beliefs play a prominent role in Real Estate investment in the backdrop of festive times. The festive season is an auspicious time for real estate investment, rejuvenating customers’ interests in various categories of property assets. If one invests in the property during festive seasons, it is considered to be a well-timed decision that will bring significant returns in the future as well. The cultural syntax of our country also justifies this philosophy, and hence we see a great deal of real estate investment during these times.”
Sharing similar thoughts, Amit Jain. Director, Mahagun Group, stated, “The festive seasons allow homebuyers and commercial investors to take benefits of attractive deals and multiple offers launched by developers. Any kind of real estate investment in NCR is a costly affair. Therefore, the end-users show a predilection to build or expand their real estate assets by going for investments in festive seasons so that they can make economically wise and judicious decisions.”
One of the most crucial drivers that leads to an investment insurgence in real estate during festive galore is the facilitation of the Flexi-Pay option. The rampant economic slowdown, post-pandemic, made one-time multi-lakh or crore asset investments lose popularity for a while.
The Flexi-Pay option broke the investment plateau and revived housing demand. Many realty players during the Navratri season in 2022 adopted the practice and announced Flexi-Pay option models to regenerate customer interests and encourage them to invest in their projects.
Amit Modi, Director County Group & President Credai (WUP) said, “Chaitra Navratri is considered most auspicious for buying new things like car, house or land. Most Indians want to invest in property during this period. The religious beliefs and ideologies of the people have special significance. It is seen as an auspicious time for real estate investment and buyers are also attracted by the attractive and well-equipped home prices. This is especially a time that witnesses an additional investment. Everyone waits for a long time for the auspicious time of Navratri. Most people also consider investing in real estate during Navratri as financially beneficial.”
Rajesh K Saraf, MD, Axiom Landbase, said, “With a line-up of attractive investment-friendly offers, low EMI payment options, and Flexible Payment options also available, everything goes in favour of buyers and investors during festive seasons. Homebuyers usually strategise their investment plans after an assiduous property market analysis during festive seasons and then decide on which property to invest in after evaluating every option carefully. It is a sign of a constructive and intelligent buyer mindset, which has become one of hottest real estate trends in the past few years.”
The real estate development is at a pari-passu during festive seasons in symmetry with buyers’ engagement. New project launches are also announced in almost the same timeline with valuable offers and investment flexibility, attracting buyers and investors.
Kushagr Ansal, Director, Ansal Housing, said, “The real estate anticipations are riding high on the Navratri season. It is expected to be the first significant festive investment to see high property engagement and deals. Festive seasons are the most opportune times for real estate investments and this theory has been proven right many times in the past. New and attractive deals, investment plans and feasible buying models have got a good reception last year and will most likely maintain their momentum this year as well.”
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