Many developers and consulting companies have also implemented incentives for employees based on good sales.
âWe distributed 56 cars, 8 bikes and six properties and wrote checks to most of our employees as the sale increased from last year. Employees are facing tough times during covid and this was the best opportunity to thank them, âsaid Sachin Arora, director of real estate consultancy firm Investors Clinic, whose FT Armor sales team has received incentives.
While overall sales figures for the quarter won’t be released until January, it’s safe to say this holiday season has been everything everyone in the industry has been hoping for.
âIf the figures for the July-September quarter are indicative, the industry is poised for a turnaround this holiday season. Almost all of the major developers are on the cusp of launching new projects in the current quarter, which will further strengthen market sentiment and encourage more new home buyers to embark on their home buying journey â said Dhruv Agarwala, group CEO, Housing.com.
Amid banks offering low interest 15-year home loans, demand from mid-segment buyers has also improved. This segment, along with affordable housing, is expected to play a dominant role in boosting overall sales for the remainder of the festive quarter.
âThis holiday season has been pretty overwhelming for most developers, including us, around 30-35% of annual budgeted numbers have been achieved in the past 45 days, which can be attributed to the fact that after the first wave of COVID-19, people realized the importance of owning a home and feeling safe amid the uncertainty and the transformation of the work culture at the WFH or the new way of life â said Sandeep Katiyar, CEO of 1 OAK.
The two projects of real estate developer Smartworld, Smartworld Gems and Smartworld Orchard, recorded combined sales worth Rs 2,000 crore within two weeks of launch.
Another Gurugram-based real estate consultant, Elite Landbase said it had sold an area of ââaround 4,500,000 square feet during festival season, valuing Rs 425 crore. The turnover for the previous year was Rs 290 crore during the same period.
âWe have seen a significant increase in the sale of SCO plots, closely followed by residential plots and freestanding floors,â said Navdeep Sardana, Founder and CEO of Elite Landbase.
The company expects to achieve sales of Rs 700 crore until December 2021.
Given the current trends in supply and demand, the company plans to focus more on mid-sized residential properties in the Rs 1 crore price range.
“We were selling 24 units in a month and during the holiday season it hit almost 50. We expect the momentum to continue as buyers are now ready to invest in properties under construction as well,” said Sanjay Sharma, director of the SKA group. .
Real estate company Trehan Group, which focuses on luxury independent floors in Gurgaon, said it has sold 120 luxury floors during the holiday season, with buyers preferring faster deliveries, quality construction and amenities.
The fourth floor with terrace was the most sought after property, said the company, which is always inundated with requests for independent floors from potential buyers.
The company has announced that it will develop 320 luxury independent floors in different parts of Gurugram.
âSo far the holiday season has been good for us. We have already sold 120 floors and there is still a lot of demand,â said Harsh Trehan, President of the Trehan Group.
âIn addition to faster delivery, a buyer also wants the best quality construction, all the amenities in the immediate vicinity and, of course, the location. The freestanding floors we offer have it all, âsaid Trehan.
The state of Haryana has authorized construction of up to four floors and has also allowed separate registration for each floor.
Krisumi Corporation, India’s leading Indo-Japanese real estate company, recorded reservations worth Rs 51 crore on 27 units of its inaugural project – Krisumi Waterfall Residences in September 2021. The company also has achieved an 80% year-over-year customer acquisition growth rate last month. .
âAt Krisumi, we are committed to redefining the Indian real estate landscape through tailor-made offerings, top-notch construction and superior customer service,â said Mohit Jain, Managing Director of Krisumi Corporation.
PropertyPistol.com said the past three months were its best three months in the company’s nearly 9-year journey.
âWe were able to sell 660 units at an average note size of Rs 90 lakh in the month of October 2021 alone. This translates to a value of Rs 570 crore of transactions completed in a single month. After the second wave of the pandemic which moderately altered our growth chart, we again navigated our growth tangent and achieved a 94% increase in unit sales in the second quarter of fiscal year 21-22 â, a said Ashish Narain Agarwal, Founder and CEO of PropertyPistol.com.