Will Property Discounts Persuade Takers?

Developers are up with some sort of property discounts to persuade  property takers. This was more visible in Indore .

Discounts are always considered as suitable means to attract the customers and this is true with the real estate sector as well. The builders attract home buyers through their property discounts. With the property discounts and freebies the property prices have fallen down.

Real estate developers of Indore are offering property discounts and freebies to attract takers. With this purpose, the builders have reduced the property prices besides offering attractive property discounts to them.

Existing downturn in the real estate market has forced builders to offer some discounts in order to attract takers. This is more visible in Indore where the builders offer wide range of freebies and discounts to the property buyers and investors.

Some of the builders even try to entice investors through assuring higher returns in shorter span of time. They offer up to 30 to 40% of returns within a couple of years’ time.

Some of the properties are sold with discounts amounting up to 15%. As a result the prices have fallen sharply from Rs.2, 250 per sq. ft. to Rs.1, 900 to Rs.2, 000 per sq. ft. in some areas of the city at present.

Noticeably most of the property discounts are offered for the properties that fall in between Rs.10 and Rs.20 lakhs. Mid- range properties are more demanded in Nipania, Bicholi, Kanadia, Bypass, Mhow and Super Corridor areas. There is an improved demand for 1 and 2 BHK apartments.

A builder, affiliated member of CREDAI, said that mid-range properties are demanded across India. He added that the people demand for properties which fall below Rs.20 lakh.

A property buyer was of the opinion that the easy payment schemes make it possible to own mid- range properties. However no one can deny that discounts do play a crucial role in the sale of any property.

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