Akshaya Tritiya

Is Akshaya Tritiya, The Right Time To Buy A New Property?

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Is Akshaya Tritiya, The Right Time To Buy A New Property?

With the Akshaya Tritiya nearing, the builders and realty experts in the country expects a boom in the property sales, especially in the housing sector. 
As festival season induces the buying sentiment, there are offers and sale offered by real estate developers and promoters.

In general, the property sector witnesses increased purchase during the festive seasons like Akshaya Tritiya which is believed to bring good fortune and wealth to the buyers. The properties are sold at special discounts and offers which will attract the potential buyers who would not buy otherwise. Industry experts advise the buyers to check the genuine value of the property and weigh with the offers if they are really worth your money. Offers such as 80:20 scheme, deduction in stamp duty, VAT and registration fee etc., are good offers that can be considered seriously only if the property fits your expectation and worth your investment. Buying a property, such as an apartment or a plot is an important investment and it should not be decided based on freebies offered by real estate promoters.

Experts’ View

The industry experts shared their insights on Akshaya Tritiya property investments for the potential home buyers in the country. The MD of Cresa India mentioned that the residential market offers some of the excellent and cost effective options for home buyers and this festive season is the best time for buyers to book their selected property, if it passes all the legal scrutiny related to real estate sales. Shrinivas Rao, CEO- Asia Pacific, Vestian said that this time is perfect for first time home buyers who are waiting for the right opportunity as Akshaya Tritiya brings good fortune and sales discounts. Ravi Ahuja of Cushman & Wakefield mentioned that this auspicious festival has not lost it sheen among the end users and anticipated to bring up residential sales by 10-12% in prime locations of Mumbai. Sources say that the developers are planning to offer discounts on booking prices for premium projects. However, Knight Frank India mentioned that the festive season will not bring a dramatic shift in the market sentiments; hence not much change can be expected in the buying pattern for the Akshaya Tritiya.

There is a mixed view among the experts about the buyer sentiments in real estate market. Although the market remains stagnant, festive season such as Akshaya Tritiya and the special offers will influence the fence-sitting buyers to purchase a property instead of procrastinating it any further. According to a wide number of realty experts, if you are planning on buying any property, Akshaya Tritiya is an auspicious day to do so.

Source :- Sulekha.Com

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