Make things happen for you this year and get your piece of heaven on Earth this Gudi Padwa. The festival is one of the few occasions when developers provide schemes, thus giving the common man a chance at their dream home.
Those who are looking out for a home this year will know that this is the ideal time to book the perfect home, as developers across the state are providing various schemes, thereby facilitating their purchase and making their dream come true.
The occasion of Gudi Padwa is seen as a game-changer, which sets the tone and prices for the rest of the year for consumers. Rohit Poddar, Joint Secretary, NAREDCO West, says, “The developers give a great deal of importance to this particular festival and therefore come up with many attractive offers like waivers in stamp duty, offering vehicles or two-wheelers, fully furnished apartments for the same price, gold coins, family holidays, etc.
” Some industry insiders have expressed that a fresh legion of buyers are seen in those young couples who are looking out for their very own home. He further adds, “Gudi Padwa is also known to mobilise the ‘first-time’ home-buyers to a large extent. This year, Gudi Padwa is likely to see the benefits offered by Pradhan Mantri Aawas Yojana (PMAY) to the first-time home-buyers as well.”
Compact homes have become quite popular, with many developers providing studio apartments to nuclear families. In fact, many developers have dedicated an entire project in areas like Bandra and Navi Mumbai in the format of ‘nano’ homes for those who cannot afford luxury homes.
Amit Wadhwani, Director, Sai Estate Consultants has predicted that there will be enticing projects launched during the festival and concurred that compact housing has taken off in a big way this year. He says, “Due to the sluggish demand in the market, many developers are likely to focus on launching nano-housing projects as this is one segment where the demand continues to be high. Accordingly, to make homes more affordable, we can see developers launching compact residential units with smaller configurations and making luxury apartments affordable to the buyers, especially in certain sub-markets of Mumbai.”
The mood in the market has been upbeat and as a result, these offers might not be available for you, come the next Gudi Padwa, add industry insiders.
Only fools rush in:
Don’t be in a rush to book your home; do the required homework before you book and make that initial down-payment you had been saving up for.
In fact, one of the best ways to make sure that you make a sound investment is to spend a little more money and hire a consultant for a fee that will be nothing in comparison to the loss you might face if you make the wrong investment.
The written word:
Get those papers verified from a lawyer of good repute, as it will give you an indication about the ownership of the land (read: Occupation Certificate). Also, cross-check whether or not the house has legal access to municipal water and electricity connection before making the purchase.
Key to the gates of heaven:
After the due-diligence, make sure that the key is provided to you on the auspicious day of Gudi Padwa (March 18) or make it official by handing over the token amount to your developer instead.