Do’s and Don’ts of Deals & Discounts

Vinod Behl(Editor at Torbit Realty) - November 14, 2021 - - 0 |
Do’s and Don’ts of Deals & Discounts


It is raining deals and discounts in the market to push home sales. Besides cash discounts, a number of attractive deals, pertaining to stamp duty and registration fee waivers, free parking and free club membership etc. are being offered by the developers in the ongoing festive season. These could be an attractive proposition while choosing a home. But don’t make them a sole guiding criteria for buying your dream home.

One needs to evaluate all offers, keeping in mind various important factors that impact home purchase. The foremost of these factors is the right choice of a developer, in order to mitigate the construction and delivery related risks. Needless to say, the developer should be RERA-registered.

To begin with one should evaluate the offers on Ready-to-Move (RTM) homes which fit into one’s requirement in terms of micro market, location, size, specifications and type of home, amenities and price of the property. RTM homes have a dual advantage. They have zero development risk. You are buying what you see. So, your investment is totally safe. Secondly, for RTM homes, buyers do not have to pay any GST. Moreover, builders are offering deals on RTM homes as well. Here, home buyers should however keep in mind that they have to immediately arrange for down payment unlike under construction property where attractive payment plans are available in many such schemes, one has to pay only a small (5- 10 percent) amount and the balance on possession. Since affordability is always a major criteria for home buying, one should look for projects offering cash discounts, stamp duty and registration waivers and other such handsome deals which substantially bring down the cost of home ownership.

Newly launched projects do not have legacy issues to tackle post-buying. Moreover, newly launched projects are designed keeping in mind the changed preferences of home buyers in the post- pandemic period like safe, healthy green homes with proper space to take care of modern-day requirements like study/home office, online classes, exercise, meditation, recreation.

In case one finds a home of one’s choice in the under-construction inventory, one should be extra-cautious in one’s choice of the project. One should carefully choose the developer who is well known and credible with a good track record of delivering quality homes in time. The preference should be given to big, branded developers, particularly the listed developers who are known for their best practices in the industry. Owning a lifestyle home with high quality quotient, of a reputed and branded developer has better prospects of appreciation, fetching good resale value. A win-win proposition for a safe and profitable investment. 

Why it makes sense to buy home this year


Of late, the home affordability has touched a new high, prompting many fence sitters to take a plunge, despite the prevailing trust deficit. Post-covid when the importance of home ownership has gone up tremendously, home buying will gain further momentum in the festive months. There are several reasons why it makes sense to buy a home this festive season lasting till December…. Vinod Behl

Home Loan party may not last long

One singular factor that has been majorly driving home sales, is the decade’s lowest (sub 7%) home loan rates. For the festive season, some home financing entities including banks have come up with a special scheme where the reduced mortgage rates apply to all home loan takers-salaried and self-employed and all slabs. This scheme offers almost half a percentage of cut in home loan rates. But this party may not last long as these rates are not sustainable for long. RBI has also given an indication that next year, home loan rates may harden. Therefore, it is in the interest of prospective home buyers to make the most of the festive home loan bonanza.

Home prices may rise next year

Besides lowest interest rates, the reasonably low and stable property prices have been the major contributor for rising housing sales. But considering that construction material prices have been rising and may further harden due to costlier oil and coal, home prices may start rising next year. Especially as developers with tight margins, may find it difficult to absorb the cost. So, it is advisable to go for home buying this year.

Good choice of ready inventory

For the last several months, developers have been facing a trust deficit of home buyers especially in the case of buying under-construction homes in view of the large number of housing projects lying stalled with incomplete units. In this backdrop, they have been focusing on project completion to line up choicest inventory for the home buyers in the festive season. Home buyers can now choose from a diverse inventory of ready-t0-occupy homes in affordable, mid-segment and premium/luxury categories across different geographies. Needless to say, in ready homes, there is no risk and moreover one does not have to pay any GST. But you may not get the inventory of your choice next year.

Newly launched homes

Encouraged by the recent trend of home buyers going for newly launched projects, specially by the big reputed and trusted developers, there will be plenty of new launches during the festive months. These new projects have been designed keeping in view the post- covid requirements of home buyers in terms of spacious and green, healthy spaces. The attractive festive deals offered by developers on new launches may not last till next year.

Interest subsidy under PMAY

It is not just the low home loan rates but also the interest subsidy (of up to Rs 2.67 lakh) on affordable and mid-segment homes for first time home buyers that has been pushing up home sales. But this interest subsidy under Pradhan Mantri Awas Yojana (PMAY) to boost Housing for All, will be getting over after this financial year.

Festive stamp duty cuts

Stamp duty cuts substantially reduce the overall price of the property. Over the last few months, it has been seen that stamp duty cuts initiated by some state governments have contributed significantly to home sales. In view of the festive season, these stamp duty cuts have been extended. But this relief may not last beyond the festive season, into the next year.

Deals & discounts by developers

For quite some time, developers have been facing a big liquidity crunch. They have been sitting over huge unsold inventory which they want to liquidate to generate cash. And for that, they have been offering both good bargains and price discounts. So much so that these offers are available not just on under-construction homes, but also on ready-to-move homes. But after the festive season gets over, these attractive deals may not be there. So, make most of the party till it lasts.


Mohit Jain appointed as Managing Director of Krisumi Corporation

Krisumi Corporation, an India-Japan real estate joint venture between Sumitomo Corporation and Krishna Group, has appointed Mohit Jain as its Managing Director. Mohit Jain’s appointment comes in the wake of Sumitomo Corporation’s business strategy to strengthen top leadership in India.

Jain, an alumnus of Boston University, brings with him a proven track record in incubation, nurturing and expansion of ventures. In his new role, he will be responsible for the successful leadership in India.

Siddharth Taparia is new CMO of JLL 

US-based real estate consultant Jones Lang LaSalle (JLL) has appointed Siddharth Taparia as its Chief Marketing Officer for its global operations.

Prior to JLL, Taparia was the Senior Vice President and global head of corporate brand and experience marketing at SAP, the enterprise application software. He has held several leadership positions across marketing, strategy, consulting, product management and mergers and acquisitions.

Taparia will be responsible for the company’s global marketing strategy and will oversee all marketing activities worldwide.

Amish Mehta takes over as MD & CEO of CRISIL

Amish Mehta has taken over as the managing director and chief executive officer of CRISIL Limited. He takes over from Ashu Suyash who decided to move to set up her own venture.

Amish had joined CRISIL in October 2014 as President and Chief Financial Officer (CFO) in October 2014. Later, he was appointed as President and Chief Operating Officer (COO) in July 2017.

An eminent leader with rich experience of more than two decades across industries in various leadership positions, Amish in his new role will steer the company’s Indian and global businesses.

Arun Arora appointed Director of Chetak Foundation

Chetak Foundation, the corporate social responsibility (CSR) arm of Chetak Group, a leading player in logistics, has appointed Arun Arora, a leading corporate communication, with three decades of experience as its director.

In his new role, Arora will oversee and carry out the foundation’s work on improving the quality of life for underprivileged communities in the logistics and other public domains. 

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Smart Cities Mission Update

Tenders Issued

Projects- 6359

Project cost – Rs 1,85535 crore

Achievement – 90%


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Total Projects – 5151

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