#3. Property

For the past few years, the real estate sector has been struggling against the decline in sales and higher inventory. Now the real estate sector has gotten busy again with property brokers are cutting prices by 7 to 15 percent, across major cities.  A residential unit can come cheaper by as much as Rs 5-15 lakh, across major cities.

"With the backdrop of a stable government, coupled with high expectations of faster decision making and positive reforms, there is a positive outlook pertaining to the residential sector in terms of sales and launches. In fact, prices are also perceived to go up in the coming six months," said Samantak Das, Research Director at Knight Frank India.  

According to real estate site, Magicbricks, nearly 250 property deals are currently on in the major cities. And also another portal, Indiaproperty, discusses about flat discounts of up to Rs 15 lakh and other freebies on various residential projects. Free vacations, gold vouchers, coins, a modular kitchen, free furnishing up to Rs 5, 00,000 and no registration fees are also being offered by developers.  

A Harikesh, SVP, marketing and sales, Tata Housing, said: "The festive season is considered as an auspicious time to purchase property. We are also offering gold vouchers for Amantra in Mumbai, during the Navratri festival." They are also planning to offer vouchers for a trip to Europe.

Supertech chairman and managing director R K Arora said brokers were giving 10 to12 percent discounts on the upfront price of flats. He added, "In Noida, customers looking for affordable housing expect large discounts, unlike in Gurgaon, where discounts will never be more than four to six percent."

A broker in Noida is offering a discount of up to 10 percent on per sq ft charges, along with no transfer charges and in Gurgaon, the discounts vary by location in the range of 7to 10 percent.

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