Jun 12, 2023

Buying a Home During Festive Seasons in India: Discounts and Offers to Watch Out For

by Godrej Properties Limited

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Introduction to Buying a Home in the Festive Season

Special Discounts and Offers

Price Discounts

During festive seasons, developers often offer price discounts on residential properties. These discounts can vary from a percentage of the base price to special pricing for specific units or configurations. It is important to evaluate the discounted price of the market value of the property to ensure a genuine benefit.

Waiver of Stamp Duty and Registration Charges

Some developers may offer to waive off or significantly reduce the stamp duty and registration charges associated with property purchases. This can result in substantial savings for homebuyers, especially considering these charges can be a significant portion of the overall cost.

Free Modular Kitchen or Furnishing Packages

Developers may provide complimentary modular kitchen units or furnishing packages for selected properties. These offerings can add value to the property and save buyers from the hassle of separately arranging for these essential items.

Payment Plans and EMI Subventions

Festive seasons often see the introduction of special payment plans and EMI subvention schemes. These plans may include flexible down payment options, extended payment schedules, or even reduced interest rates during the initial years of the loan. 

Additional Amenities and Upgrades

Developers may offer additional amenities or upgrades as part of the festive season offers. These can include access to clubhouses, sports facilities, landscaped gardens, or even smart home automation systems. 

Developer-Specific Offers

Developer Cashback or Vouchers

Some developers may provide cashback offers or gift vouchers to homebuyers during festive seasons. This cashback can be used towards the down payment or other expenses associated with the property purchase. 

Referral Programs

Developers often introduce referral programs during festive seasons, encouraging existing customers to refer potential buyers. In return, they may offer referral bonuses, discounts, or even exclusive benefits to both the referred and the referred party. 

Early Bird Offers

To generate early interest and secure bookings, developers may introduce exclusive early bird offers. These offers may include a priority selection of units, special pricing, or additional perks for those who book their homes during the initial phases of the festive season.

Conclusion

Buying a home during the festive seasons in India can be an opportune time to capitalise on attractive discounts and offers provided by developers. However, it is essential to exercise caution and conduct thorough research before making a decision. Evaluate the discounts and offers about the property's actual value, check the credibility of the developer, and ensure that all terms and conditions are transparently communicated.
 

Frequently Asked Questions

1. Are the discounts and offers during the festive seasons genuine?

Ans: Yes, many developers offer genuine discounts and offers during festive seasons to attract homebuyers.

2. Can I negotiate for additional discounts during the festive season?

Ans: While developers may already provide attractive discounts and offers during festive seasons, it is not uncommon for buyers to negotiate for additional benefits.

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