Summer vacations good time for realty market

The real estate market is buzzing with activities with buyers returning to the market in the NCR to seal deals, slowly but surely.

“As summer vacation is not far away, more and more serious buyers will throng the market to book flats,“ Samir Jasuja, head of PropEquity, says.

Summer is the time of transfers and relocation; the time of school admissions and locating houses nearer to schools, so that children can avoid the long and torturous bus rides back and forth through heavy traffic and pollution.

Alimuddin Rafi Ahmed, CMD of ILD Developers, says: “There is big demand for properties in residential localities around school zones during summer time. If your project is close to a good school or some educational area, your project is bound to have a readymade market.“ Sanjay Khanna, director of Kailash Nath Projects Pvt Ltd, says: “Cash-rich NRIs also find summer months an ideal time to return to their roots in order to buy property. This is the time when they visit India to meet their relatives and, side by side, also look for nice properties. They do not mind paying more for good properties.“ “I believe that the positive momentum that started with Navratra will continue till June. This is a time when property transactions remain high; fact of the matter is that summer months are considered very productive for realty market. This is the time when end users finalize deals and those that live in rental homes also shift. Summer months are also the time when resale market picks up nicely,“ Nikhil Jain, CEO of Ramprastha Developers, says.

Sunil Jindal, CEO of SVP Group, says that the summer months are very hectic time for realty sector with a lot of transactions at all levels. He says that during summer time, buyers give priority to projects which are close to good schools.

Market watchers say that those who get jobs outside the city or abroad sell their property during this time and, often, at lower prices. Hence, April to June is the time when prospective buyers should remain in touch with real estate consultants of their areas in order to grab good properties, at bargain prices too. Surakshit Singhal, a businessman, says he will shift to his new flat in Noida now, even though he purchased it around six months ago.He was paying a fat rent for his rented IP Extension flat, but stayed put owing to his children’s studies.

So, summer is not all about going to some hill station with your family to enjoy – this is also the time to seal the deal in the realty world.

Source: CredaiNCR.Org

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