How developers are trying to attract more and more buyers? |
Posted: October 12, 2016 |
Since past few years sales for residential properties in India has been witnessing a slowdown. While for some cities like Delhi NCR the impact has been high, most of the Southern cities have observed gradual reduction in sales. This has increased competition amongst developers and they are full time investing in new marketing techniques to attract more and more buyers. There is no set mantra for successful marketing, each project hence needs to be treated in a unique way to achieve success. Marketing gurus try and analyse the mind-set of the targeted audiences before coming up with a marketing and advertising plan for each project. In case of real estate sales of houses determine success of the marketing campaign. In today’s real estate scenario in India many developers have high inventories left with them. To attract more and more property seekers developers are employing many methods from simple discounts to bigger offerings. Some of the popular methods used today to promote sales include - a) Offering cash discounts on either the overall ticket price of the property or psft rate b) Giving away freebies like gold coins, home appliances, modular kitchens, cars etc. c) Providing easy financing options like pay 20% of the total property price while booking and rest 80% at the time of possession or interest on home loan for first few years is paid by the developer d) Developer pays for government registration and stamp duty e) National and international travel f) Assured return offers by builders where the developer gives guaranteed return on investment like assured rental income for few years etc. One of the prime reasons for slow property sales is increasing property prices. Over the years houses in metros have become unaffordable for most of the working population. To fit houses in budget range of the masses many developers have also changed their construction plans and reduced the area of the houses to reduce the overall cost of the property. Some developers are also offering no frill homes with only basic necessary amenities in the housing complex. Even developer who are selling ready to build plots think it’s easy to sell smaller plot sizes with smaller ticket price rather than bigger ones. Karanodai by Thanigai Estates is one such project selling residential plots near Redhills in Chennai, Tamil Nadu. Located within close proximity to Chennai - Kolkatta national highwayKaranodai offers 540 plots measuring 600 sqft each. To attract more and more property seekers the developer has a special offer running where if you book a plot in Karanodai by Thanigai Estatesyou getEC, Patta and Registration forfree. While this trend of giving freebies and discounts is more prevalent in Indian metros like Delhi NCR, Mumbai, Chennai, Bengaluru, Pune etc., other smaller cities are also catching up. Demand and supply for any commodity should be matched else situations like these can’t be avoided.
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