Anuj Puri, Chairman – ANAROCK Property Consultants
Gudi Padwa is a traditionally auspicious time to invest in real estate in India. While Gudi Padwa is a Maharashtrian concept, the period of oncoming spring and the sense of renewal it brings is acknowledged across the country.
Punjab has its Baisakhi, Andhra Pradesh has its Yugadi, Tamil Nadu celebrates Puthandu and Kerala knows it as Vishu.
Historically, Indians have always seen certain dates as highly auspicious for property purchase and other wealth-creation measures.
For this reason, property sales tend to spike up during festivals like Gudi Padwa and builders align various offers, schemes and discounts with them to encourage this brief phenomenon.
In recent years, this trend came in on a more subdued note because of the prevailing conditions on the real estate market.
In fact, Gudi Padwa in 2018 was anything but a vibrant time for the property sector. It was defined by significantly lower housing sales than developers would have wished for.
However, 2019’s Gudi Padwa is very different.
The slew of sops offered by the Government in just the first three months of the year –