One of the most auspicious day as per the Hindu calendar is Akshaya Tritiya where people invest a lot in real estate. Kartiki tried to find out the sentiments of the markets and spoke to the stalwarts of the industry about the same. The word ‘Akshaya’ in Sanskrit means never diminishing. Hence, the day of Akshaya Tritiya is believed to bring success and good luck that never diminishes.
On this, Dr. Niranjan Hiranandani is Founder & MD, Hiranandani Group, National Real Estate Development Council (NAREDCO), said, “Growth for Indian real estate is linked to the aspect of sentiment, which powers real estate sales. This is best represented by the festival of Akshaya Tritiya, which is considered an ideal time to explore investment options across sectors, real estate included – this prosperous event that embodies luck and fortune is characterized by the purchase of real estate. For end-users, as also investors, Akshaya Tritiya comes across as the opportune time to buy property, given the relationship with the auspicious sentiment – the belief is that investments made on this day bring prosperity and appreciation, and buying property fits in perfectly.
Transparency and accountability on part of real estate developers have been the positive impact of the new regulatory regime, enhancing the trust factor for property buyers. This coupled with the positive sentiment that the festival represents, should see many a ‘fence sitter’ turn into a ‘buyer’. I foresee the festive sentiment and new regulatory regime driving property sales across the nation this Akshaya Tritiya.”
On this added Amit Haware, CEO & Joint MD at Haware Properties, “Akshay Tritiya is a great festival when many new projects are launched as it is the most auspicious time to buy your home. We are launching our new project with the concept of intelligent housing at JVLR in Vikroli. The homes in this project have been designed keeping the consumer at the centre of design and planning. We are creating intelligent spaces that will nurture the talents in the new generation and provide them with a space to hone their skills. We are launching hi-tech amenities that will allow residents to speak to their homes and use voice command to execute daily tasks. We have envisioned the future of intelligent housing and we’re sure customers will love this concept.”
Also Dharmesh Jain, CMD of Nirmal on the auspicious occasion of Akshaya Tritya. – “Traditionally Akshay Tritya is considered as an auspicious occasion for the real estate sector and industry witnesses a spurt in demand during this time. Consumers might get several options to choose from along with an added advantage of capitalizing on the launch rates. People opting for ready-to-move-in apartments, can capitalize upon the amenities without waiting and move into their house on this auspicious day. Considering buyers do come in the category of affordable housing and affordable luxury housing markets as it fits in their budgets, many developers are offering freebies and flexible payment options to their customers which might boost the property sales.”