Festival Offers in 2013 Start with a Trend of Customized Discounts

There are many festival offers that are upcoming without much advertising. It is believed that the offers are highly customized. For those who are genuinely interested in buying a property this festive season, several developers are offering discounts in a hushed manner. As compared to the previous year, in 2013, the developers are offering some of the unsold properties in their sold out properties at an attractive discount. 

For instance, if we take the case of a renowned developer, their two projects in Akshaya Nagar and Attibele are sold out to an extent. The Attibele project being a gated community consists of numerous 30x40 ft. plots and has only about 35 unsold plots. The property was priced around Rs. 1,900-2,000 per sq. ft. However, today, it is being offered at a festival discount of roughly Rs. 50 per sq. ft., for the inventory that is unsold. 

According to a marketing team member of the developer, the Attibele project is considered to be extremely lucrative as it is a gated community and is priced reasonably too. Moreover, it holds proximity to Biocon, Electronic City and the industrial corridor en route for Tamil Nadu. There are only a few plots left that are unsold right now. No sooner, they find appropriate buyers, they will move on and launch further projects. 

The Akshaya Nagar apartments too are on similar lines and are available between Rs. 100-150 per sq. ft. as part of festival discount. According to a freelance realty consultant, most of the developers are offering festive discounts to genuine buyers. The only thing is that this is being done without much fanfare primarily due to the fact that offers are for a very limited period and the offerings are customized. 

Furthermore, there are many developers who have tied up with other loan companies and banks and immediately sanction a loan within a limited period of 48 to 72 hours or offer discounts, or car park or a waiver on club membership. It will be valid up to 15th October 2013.

According to a top executive of the developer, usually they have noticed a marked increase in property sales after Ganesh Chaturti. The developers witnessed an increase of around 20 to 30 per cent in sales in 2012. He also said that Dusherra is a main festival in Karnataka, and with the increase in the dollar rate in the last few months, the condition had attracted more NRI investors and end users in the market. 

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