Real estate developers are offering gold coins, complementary international tours, fully furnished homes, not to mention spot discounts this Diwali. Having said that, homebuyers who purchase apartments priced at ₹ 5 crore and above are not necessarily influenced by festive discounts as they are not looking to reduce the upfront financial burden as is the case with affordable and mid segment buyers, say real estate experts. “Festive offers are not a priority for them,” they say.
According to Mumbai-based developers, luxury homebuyers believe in booking or registering apartments during the festive season as it is considered auspicious but they are not influenced by promotional festive offers. "Festive periods recognised for their auspicious timing, witness a surge in home buying activity as buyers finalize and register their purchases after months of searching for the perfect home. This year we have seen particularly strong demand for 3 BHK and 4 BHK apartments, with prices ranging from ₹ 3 crore to ₹ 50 crore across various markets," said Ashish Dhami, chief of sales, Marketing and Product Design, K Raheja Corp Homes.
What matters to luxury homebuyers is the quality, reputation, and the overall purchasing experience than promotional festive offers. Also Read: Mumbai's soaring rents may lead to a ‘brain drain’ among professionals, force them to relocate to affordable cities Sharan Babani, promoter of Satguru Builders, which has projects in Bandra said that, "We do.