Real estate dealers are banking on festive season for a surge in property market. Property purchases are expected to rise during Ganesh Chaturthi and Navratri as the period is considered auspicious for locking new deals.
Property sales are likely to jump by 10-15 per cent this season as compared to last year due to prospects of better crop production on bountiful rains and conducive weather, according to industry experts.
Arun Jain, executive committee member, Confederation of Real Estate Developers Association of India (CREDAI) said, “Lot of enquiries are pouring in and we have fetched some bookings also. Most of the sales for residential properties are done. Prospects of higher crop production will boost buying capacity.”
However, major investments and deals are unlikely in the current market scenario because of higher property prices and liquidity crunch, according to industry experts.