n the past few years, the Indian realty sector was going through a few hurdles which were further exacerbated by the outbreak of COVID-19. Home sales have fallen considerably, leaving the developers in trouble. At times like this, a number of developers are offering attractive deals to help boost the sales. These deals range from simple discounts to free gifts and furnishing. For example, a number of developers are offering free ACs, modular kitchens and other appliances. Several others are launching deals such as cashback schemes, refundable booking amounts, etc.
For instance, the Lodha Group has come up with the lowest ever interest rate of 5.99% on home loans. Moreover, the buyers would initially be required to pay only INR 1.98 lakh for the property.
In many cases, the developers are offering free membership to clubhouses and free car parking space. As currently a large number of potential homebuyers are finding difficulty in buying properties due to financial issues caused by the pandemic, such offers are selling well. Several developers are also coming up with innovative offers. For example, one of the developers has offered to sell an existing property of a homeowner if the person books a new property with that developer.