CREDAI bets big on the on-going festivities

In the midst of coronavirus, which has played spoilsport for realtors expecting to clear stocks, the real estate industry is now upbeat on the on-going festive season whuch will give an impetus to demand for residential and commercial spaces. Builders are offering sops to lure prospective buyers hoping to lift buyers sentiment in the stagnant market. Confederation of Real Estate Developers Association of India (CREDAI), Indore chapter member Sandeep Shrivastav said that it is an end-user market that would have grown but the virus effect has weighed on the sentiment. The recovery will not be on the expected lines but considering the auspicious period, deals will get finalized. The festive season from Gudi Padwa, Navratri and Akshaya Tritiya are considered to be auspicious occasions for purchase while many realtors also introduce new projects. Ssid realtor Vipul Agrawal, "We are anticipating a recovery in real estate and people on a wait-and-watch mode will lock deals in the coming weeks. Many builders gave floated offers to attract buyers and offered a component in property registration, free club membership, cash discount and gifts among other items.