Like every year, real estate industry is gearing up for the great, grand Indian festival season! It goes without saying that this is a feel good thing to spend without a worry during festival times but should it just end with low-cost buys (i.e. electronics, jewellery, cloths, vacations etc.) or one should hold his property purchase decisions till festive season as well – is the question!
Most of us Indians do believe in ‘good muhurat’ and ‘bad muhurat’ and often hold back important purchasing decisions to strike deals in auspicious periods. Let’s have a look at the calendar and find out the best and worst times to purchase a house as per traditional beliefs and guidelines.
As per Hindu calendar, after a long lull of 2-3 months, property purchases begin to rise during Ganesh Chaturthi and Diwali at a fast rate as this period is considered to be favorable to seal any new deal. Diwali marks the starting of the business year and is believed to be the best time to make new investments. Diwali is regarded as an auspicious time to make money, and nothing can be better than investing in property. If sources are to be believed, real estate developers achieve one third of their annual sales target during this period.
During the first half of the year, Akshaya Tritiya is another extremely auspicious time to invest in properties. This festival is believed to bring good fortune and wealth. Same can be said about ‘Gudi Padwa’, the day, as per traditional belief, universe was created by Lord Bramha. The bright colors of Gudi’s cloth symbolize Lord Bramha’s flags and the overall sentiment attached with this festival is the victory of good over evil. ‘Gudi Padwa’ is celebrated with splendor in the western part of the country, especially Maharashtra while in other parts of the country the occasion is known by different names.
Another important aspect of the festival time is, a lot of developers plan their crucial project launches in this auspicious phase. Many home buyers and investors look forward for the lucrative offers, both launch specifics and festival specials. Especially for buyers who are looking for affordable housing or budget homes, the festival time bargains can actually be deal makers.
India is celebrated as the land many religions and countless languages, it might well be described as a land of festivals as well. We Indians love celebrating little joys and bigger occasions with equal eagerness and our festivals are painted with joyous celebrations, colors, music, folk songs, dances, delicious foods, sweets and important beginnings. Investing in real estate is one of the biggest celebrations in the family which is associated with the ‘great, grand Indian festivity’.
This year, the eco-system of the property market is positive. Thanks to bountiful rain and overall positive sentiments around market with new policy initiatives, economy is showing signs of improvements. Therefore, it will not be wrong to expect better movements in the real estate scenario this year.
Do you have your own personal favorites? Are you planning to buy property during the festival season in 2016? What are your home buying stories? Do share with us: firstname.lastname@example.org
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