Chaitra Navratri is undoubtedly one of the best auspicious festivals celebrated throughout the country. As per the Hindu Calendar, it is the first day of the Chaitra month marks the starting of the new year. It is because of this fact that Chaitra Navratri is taken as one of the best times of the year when you can buy or at least book your dream home. Apart from this, most developers make the best of this opportunity by giving some of the best offers of the year to lure homebuyers.
In a country like India, homebuyers not just give value to the price of the property, location and returns on it but also give significance to the occasions and auspiciousness of the days. So, this post is about why this Chaitra Navratri is your best time to buy a dream home.
Shower of Lucrative Offers
To make most of this opportunity, developers give a number of offers such as no GST charges, no registry charges, EMI holidays and customised payment plans during Chaitra Navratri. Also, some developers go even a step ahead with offers like free appliances, free modular kitchen, free wooden flooring among others.
During Chaitra Navratri, some developers also offer free vouchers so that homebuyers can exchange them with wooden furniture and installation of the modular kitchen at discounted rates.
On the other side, some developers offer instant cash discounts on ready-to-move-in properties during these Chaitra Navratri to clear their unsold inventory.
Impact of GST Rate Cut
The growth of the Indian real estate market has been damping since the last few years. From demonetisation to imposing of new GST rates, the reasons are many. However, things are now back on track. All thanks to the new policies and acts of the Indian government, such as implementation Real Estate Regulation and Development Act (RERA) and Real Estate Investment Trusts (REITs) and Pradhan Mantri Awas Yojana (PMAY).
Complementing these rules, the government has also cut the GST charges on under-construction homes from 8% to 5% and affordable houses to 1%. Also, the repo rate is also dipping significantly in the last past two quarters. Owing to the GST cut, this Chaitra Navratri has become a favourable time for homebuyers to buy a home or make an investment.