Uptick in sale of gold & other assets ahead of Gudi Padwa

PUNE: This year, many have pre-booked items such as appliances, vehicles, gold and property ahead of Gudi Padwa — a day considered auspicious for new purchases — so that they get delivered on the day of the festival.
Ramya Krishnan, an IT professional, said, “I have booked an electric scooter which will be delivered on Gudi Padwa. With rising fuel cost, I wanted to buy the vehicle for a couple of months and finally decided to have it delivered on Gudi Padwa.”
Sagar Pashankar, managing director of Pashankar Auto, said, “The new Activa has launched just in time for Gudi Padwa, so we are seeing a jump in sales. Just my dealership will be delivering about 500 vehicles on the day.
The rising prices of gold are barely acting as a deterrent for customers this year.
Vastupal Ranka, Director, House of Ranka Jewellers, told TOI, “Bookings have increased despite the rate being Rs60,000, the highest yet.” Those who don't want to come in on the day of the festival have pre-booked their purchase and will take the delivery on Wednesday. Across all our showrooms in the city, we have received over 1,000 bookings and counting, he added.
Shubhangi Gaikwad, resident of Karvenagar, said, “Every year, my sister-in-law and I go with my mother-in-law to the family jeweller and she buys gold for both of us. I suggested we skip buying gold this year as the rates are at an all-time high, but my mother-in-law insists on carrying forward the tradition.”
Several real estate developers are also offering freebies such as gold coins, waivers on charges and discounts to customers.
Anil Pharande, CREDAI Pune Metro President, said, “After the first wave of COVID-19, people realised the importance of owning a home and some even prefered to invest in real-estate. Pune is also a conducive market due to a slew of government schemes including the ring road, new airport, Metro, etc. We hope the momentum continues for Gudi Padwa.”
Aditya Javdekar, CEO of Vilas Javdekar Developers, said, “Since the festival usually comes around the end of March-early April, many are looking to investment. Several companies also launch new producrts during the festival to push sales. The real estate market around Gudi Padwa is buoyant and excitable.”
Prashant Bindal, the Chief Sales Officer, Lodha Group, said around the festival people look at real estate as means of asset creation and as such complete and ready homes will remain a priority.
Markets across the city are abuzz with shoppers.
Sneha Patil, a shopper on Laxmi Road, said, This festival calls for a big celebration in my house, while following all the traditions and rituals. Every year my in-laws come to Mandai to buy the gudi and other items for the puja from a specific shop.”