All set for that big buy?

At least 72 per cent of property seekers confirm that they are likely to make a purchase this season. From the developers’ perspective, 59 pc anticipate the market to boost between 5 pc and 20 pc. At least 38 pc developers are introducing new projects this season. These are the figures that a recent survey by makaan.com, an online real estate service suggest.

The study conducted in metros and Tier II cities, seeks to address questions on whether the real estate market will experience a surge in both property buying and selling, starting Deepavali.

The study, titled Festive Reality, says that 80 pc home buyers are looking forward to attractive offers this year. Singing the same tune, 64 pc national developers have confirmed that they are introducing perks on their projects.

Other highlights
Amongst all cities, Pune tops the charts with 84 per cent buyers looking forward to attractive offers. Mumbai and Delhi follow the city with 80 per cent and 78 per cent of property seekers expecting perks, respectively.
With 80 per cent each, realtors from Hyderabad and Pune have shown the maximum inclination towards offering freebies this year.

Nationally, 45 pc buyers feel that projects/options tagged with cash discounts, would be their first preference. On the contrary, 19 pc are not interested in any kind of freebies. For them, other factors like location etc matter more.
For 15 pc parking facility and club membership along with the ideal house, is enough for closing a deal.

Another 14 pc would prefer fully furnished homes over any other freebie.
Across cities, 59 pc realtors feel that cash discounts are the perfect freebie and can attract maximum property seekers.
Another 13 pc feel that buyers give a higher preference to property options that are fully furnished.

Looking confident
Over the last few months, property seekers have been applying the wait and watch approach, but this festive season they look more confident, as a majority are ready for making a property purchase. On the same hand, developers seem to have sensed this trend and are hoping that property transactions would go up significantly this year. 

The level is varying from city to city, but one cannot deny the fact that positive sentiments are back considerably, both among seekers and realtors. 

‘Practically superstitious’
The survey also called Indian home buyers “practically superstitious”.  
Participants who were asked why they were choosing to buy a house around the festive season, revealed that they were investing during this period because of the plethora of property options available at this time of the year, and also owing to the “good fortune” it brings.

At least 32 pc of respondents think that the festive season is an auspicious period to make a high value purchase. Hyderabad, with 43 pc, tops the charts when it comes to seekers who consider buying property around this time as auspicious. Delhi and Bangalore follow this trend with 39 pc believers each, according to the survey.

Ready-to-move-in homes
With developers not able to deliver projects within the stipulated time period, seekers today are taking a more cautious approach (when it comes to making a property purchase).
Buyers are giving their first preference to a  ready to move in home, even if it is by a moderately known developer.
At least 39 pc national seekers give their first preference to a ready to move in home from a moderately known developer.

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