Back to basics: realty ads take a U-turn | business | Hindustan Times
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Back to basics: realty ads take a U-turn

Out go swimming pools, palatial villas and golf courses. It is back to basics, with price per square foot often doing the talking in the once glamorous world of real estate advertisements.

business Updated: Dec 26, 2008 20:43 IST
Gaurav Jha

Out go swimming pools, palatial villas and golf courses. It is back to basics, with price per square foot often doing the talking in the once glamorous world of real estate advertisements.

Not that villas are missing. Now, they are tagged at prices that only a year ago was put for a mid-sized apartment.

Bangalore-based Orange Township is luring luxury-minded Delhi buyers with a villa – and a Mercedes thrown in—for Rs 69 lakh, and a two-bedroom flat in the tech city for Rs 13.6 lakh.

In Delhi/NCR, the Trans-Yamuna zone of Indirapuram is where somewhat cheaper flats are on offer.

Supertech has radio ads for two-bedroom apartments for Rs 21.25 lakhs at Crossings Republik in Indirapuram, while Gaursons is peddling one for Rs 24.45 lakhs – that is down from the Rs 35 lakh levels a year ago.

In the Delhi zone, the latecomer satellite town, Sonepat, has sub-Rs 20-lakh flats from Parsvnath Ltd.

“Luxurious projects are not selling any more and that is why we are focusing on affordable projects in our advertisements,” said Parsvnath spokeswoman Neetal Narang.

“Advertisements cannot sell overpriced products,” said Sam Balsara, managing director of advertising firm Madison Communications.

Vatika group, which is selling projects starting from Rs. 14.6 lakhs has set aside ad expenditure of nearly Rs. 10 crore for the next three months to sell its low-income projects, said Gaurav Bhalla, the group’s marketing director.