In bid to lure them, builders’ offer to buyers: Buy 2, get one plot free

“Few weeks back, we had offered a 20 percent discount for a newly launched residential scheme in Ahmedabad. We thought to extend this discount, during the festival period, on all our residential projects to give it the much needed push,” said Pavan Bakeri, MS of the group.

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Another developer Narayankrupa Developer is offering about 12 percent discount on three bedroom-hall-kitchen (BHK) flats that he is building at Prahladnagar Extension. The discounts get bigger, and the freebies more luring for properties located away from the city.

One of the 50-odd property exhibitors at the venue, Aneri Reality Pvt Ltd, has drafted a discount scheme that is common place in garment shops in Ahmedabad.
This real-estate firm is offering a “buy two, get one plot free” scheme to businessmen interested in investing in an industrial park at Ranesar on the Ahmedabad-Rajkot road.

The same developer is also busy luring buyers by offering “free Honda Activas” to those who book a plot or a farm house and is also offering “free furniture” worth Rs 2.5 lakh to those who buy a plot at Bavla, 40 kM from Ahmedabad.

Similarly, another developer — Shri Jai Madi Realties Pvt Ltd — who is selling bungalows in Dholka to buyers in Ahmedabad is offering a 25 percent discount of two BHK units that cost about Rs 27 lakh.

Real-estate experts point out the discounts are coming at a time when developers in both Ahmedabad and Gandhinagar are struggling to sell off an existing inventory of 42,000 homes. Slower-than-expected recovery in the economy and a delay in reduction of home loan interest rates have hampered the revival of sales volume.