Akshay Tritiya brings some cheer to Mumbai’s realty sector

Hindustan Times | By Naresh Kamath, Mumbai
UPDATED ON APR 20, 2018 02:31 PM IST

The real estate sector has got reason to cheer as the festival of Akshay Tritiya on Wednesday generated decent sales, compared to the lackluster performances over the years.

This time, builders slashed prices of properties to woo homebuyers. Many leading developers like Haware, Marathon and Raunak Group saw good responses from homebuyers.

According to real estate experts, sales have now started taking place in Mumbai and its outskirts. “Sales are taking place owing to a combination of factors like falling prices, easy finance schemes and adjustment of configuration of the houses. As Akshay Tritiya is an auspicious day, several people decided to buy a home,” said Pankaj Kapoor, CEO, Liases Foras, a real estate research firm.

Haware Properties, that launched 86-apartments Haware Intelligentia, touted as India’s first automated homes in Vikhroli, also generated good interest from buyers. “It was the combination of good pricing as well as amenities that played a major role in our sales,” said Amit Haware, CEO and joint managing director, Haware Properties.

The Hawares have priced a 1 BHK (bedroom hall kitchen) apartment for Rs1.16 crore and 2 BHK for Rs1.81 crore. Similarly, Marathon Group, which launched its project, Eminence, at Mulund, saw its 1 and 2 BHK apartments with selling at rates starting from Rs95 lakh onwards.

According to Tejas Vyas, committee member, Maharashtra Chambers of Housing Industry (MCHI-CREDAI), the response was encouraging this time. “Buyers have realised that prices have now stabilised and they are really getting good deals,” said Vyas. Vyas, who heads the Oyster Group, said that his own Mira Road project, where apartments are priced in the range of Rs30 lakh, received good response from the consumers.

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