Diwali 2019: Festive season is traditionally considered to be an auspicious time for buying property, getting home interiors done, and more. It is also a time when most of the developers launch special offers including discounts on properties, gold coins on every purchase to organising lucky draws, developers adopt every trick to attract buyers. Naturally, people come out in large numbers to hunt for their dream homes. With interest rates falling sharply over the last six months and most banks linking their home loan to RBI's repo rate, there are chances of further reduction in interest rate, the time is near perfect for buyers. Amid favourable conditions, developers are expected to report satisfactory sales numbers even without offering 'expensive' return gifts.

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Data Available with PropTiger.com shows that home sales during the festive season invariably increase for a variety of reasons.  In the October-December quarter of FY19, for instance, home sales increased by 30 per cent. While sales volumes decreased in the quarters that followed, they are expected to see an upward movement during the upcoming festive season. While the liquidity crunch and a ban on subvention schemes might keep developers from launching mega festive discount offers that typically are a big attraction for buyers during the festive season, the reduction in interest rates and easy availability of ready-to-move-in affordable homes are likely to be the big drivers of demand during the festive season this year.

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