Why did discounts and offers disappear from the real estate sector, there used to be spring in the festive season?

Real Estate Sales: Despite the festive season this year, real estate developers are not playing the game of offers and discounts. Every year, from Navratri to Diwali, there were so many types of offers in the market that people were confused as to what to do. But, this year big offers are not visible in the market. Experts believe that due to the tremendous sales in the last few months, developers no longer have many houses available. In such a situation, he does not feel any need to make an offer.

Was giving discounts and offers to clear inventory

According to the Money Control report, at present there is not much inventory of cheap and mid-level priced houses left in the market. In the last few years, the real estate sector was struggling with this problem. Due to this, they had to resort to heavy discounts and offers to clear the inventory. Now after Covid 19, there has been a big change in the situation. People are buying big and expensive houses. There is a huge jump in the booking of even luxury homes. In such a situation the inventory has decreased rapidly. Due to this, there is no pressure on real estate developers at present.

This time there is no discount on car, furniture and price.

Real estate developers are currently giving free things like gold coins, phones, modular kitchens to sell houses in top 7 cities. This is nothing compared to the huge discounts usually given every year. Earlier, 5 to 10 percent discount was given on the price of houses. Apart from this, cashback worth lakhs of rupees was also offered. Some developers used to give cars and some used to give furniture and home appliances. There has been some decline in the sales of houses in the last month, but due to the tremendous sales that took place before that, the situation is not serious.

Now more focus on premium and luxury housing segment

During the July-September quarter, mid-segment home sales have declined by about 13 percent on an annual basis. Apart from this, the sale of houses priced below Rs 50 lakh has decreased by 14 percent. Big players like Godrej Properties and Macrotech Developers have now focused their entire focus on the premium and luxury housing segment.

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