Raining monsoon offers by Realty players

New Delhi,

July is not a lean period for the realty sector this year as developers are lining up freebies and discounts for homebuyers.  The monsoon season (June-August) is traditionally a low-key period for the real estate. But this year one is witnessing an unusual marketing and sale activity by the real estate players, especially in the NCR.

Catching them early
According to Magicbricks Property Index Report, the marketing momentum in the rainy season this year is built on housing sale upswing reported in the last quarter of FY18, with 66 per cent of the 750 major locations in the country witnessing price stability or price increase over the last financial year.

NCR’s affordable housing player GLS Group, according to its Director, Surinder Singh, has been able to sell 271 units in this season so far in the lean season.

Compulsion to reduce inventory
Instead of paying tax to the government on more than one-year-old inventory, the fund-starved developers prefer to pass on the benefits to buyers and generate cash flow.

Sudhir Pai, CEO, Magicbricks.com, says, “In a recovering and competitive market, developers do not want to miss any opportunity to acquire customers, season notwithstanding. With extended sale cycles being the new norm now, developers have moved from campaign-based selling to more sustained year-long sales activity”.

Gathering momentum
The active marketing stance of developers and brokers in July this year is helping them prepare a good ground for the festive season ahead.As the marketing activity gains further momentum with higher allocation for ad budget during the festive season, real estate experts expect sales to further pick up.

Digital thrust
Magicbricks’ revenue for the quarter ending June, registered 48 per cent increase on account of robust property transactions.According to brand expert Haresh Moitrale, Founder Director, Brandniti + Design, this sale momentum has a lot to do with marketing communicationchanging from larger-than-life to more transparent and less gimmick communication, especially after RERA implementation.

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