Why The Festive Season is The Best Time to Invest in Residential Property in Mumbai

Why The Festive Season is The Best Time to Invest in Residential Property in Mumbai

The festive season in our country starts with a series of festivals in August, and it continues in full swing till November. During festivals, buyers are keen to grab attractive festive offers on their favorite products, such as clothes, accessories, or gadgets.

This trend continues in the real estate sector as well. Most people view festivals as auspicious occasions for making investments in property. To match the demand for home bookings that sparks around the period from Ganesh Chaturthi to Diwali, many developers launch projects around the same time. The festive offers on early bookings during the festive season are one of the reasons that make it the best time to invest in property.

Many developers have a focused approach when festivities arrive. They prepare to deploy multiple offers and opportunities for the homebuyers to have an incentivized homebuying experience. Various festive communications are made to attract the right set of buyers, which makes it an event where homebuyers can consider investing in real estate space.

What’s the scenario of real estate sector in the financial capital of India?

As per the data from Maharashtra government’s Department of Registrations and Stamps (IGR) despite an increase in prices and interest rates on home loans, Mumbai city saw property sale registrations of 8,628 units in September 2022, contributing over Rs. 734 crore to the state revenues. Mumbai has been, and continues to be, lucrative for the real estate sector’s growth. If you wish to be a part of Mumbai, here are three reasons for you to invest in a residential property in Mumbai during the festive season.

1.  Lucrative offers from developers

Many property developers offer attractive deals to help homebuyers make quick decisions. These offers attract buyers and soften the blow of higher interest rates. As a home buyer, you must consider grabbing the incentives offered on home bookings from August to November. This Diwali, keep a lookout for special festive offers by the developers.

2.  Many new projects to select from

It is an excellent opportunity for home buyers to explore a pool of residential projects and make the buying decision based on budget, location preference, and amenities desired. For most people buying a home is a one-time investment, so wouldn’t it be nice if there were many projects to explore before making the big buying decision?

3.  Property prices may go up soon

According to Reuters poll of property analysts, average house prices are forecasted to rise by 6% next year. As per ANAROCK the housing market in India’s top 7 cities is likely to attain a new peak by 2023 when housing sales are estimated to cross 3.17 lakh units and new launches by 2.62 lakh units during the year. City-wise, Mumbai, and Bengaluru will lead housing sales and new launches in 2023.

So, wouldn’t it be wiser to invest in a residential property in Mumbai now?

The timing of buying a home is as important as the developer you buy the home from. The Runwal Group has been in the real estate business since 1978. It is Mumbai’s most renowned company, which has developed some of the most luxurious and sought-after projects in the city.

One of the most celebrated projects of Runwal Group is the Runwal Bliss in Kanjurmarg and on this festive occasion of Diwali, you can get special festive offers at the project. Some of the good points about the project include beautifully landscaped Central Greens, State-of-the-art Clubhouse and more. The project is adjacent to an 8-acre Central Park with construction at an advanced stage! You can get a lifetime of celebrations with Runwal Bliss as it is nearing possession. So, Diwali would be a great occasion to book your new home.