These Are 5 Traps Developers' Set To Attract Home Buyers

Bangalore: As the real estate sector has become less transparent, so too have developers. To sell projects, developers are applying several marketing strategies to entice home buyers as well as investors. Sometimes for a home buyer, buying a house costs them their entire savings for life. So, it is important to be careful when planning to buy a house as developers set many traps in the market to attract buyers. Below listed are few schemes which developers set to trick buyers, reports Amit Shanbaug of Economic Times.

1) Discounts and freebies

Offering discounts and freebies have become common practice for developers. They often give discounts and freebies like gold coins, club membership, parking space, holiday packages and so on to attract home buyers. Most home buyers happily accept such offers to save money. For instance, a car park alone comes for 1-10 lakh and getting it as a gift entice buyers to fix a deal. Even there are developers who started offering payment for stamp duty and registration charges that ranges between 5 and 12 percent of the total property value.

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