Gudi Padwa is a festival that ushers in the new year and is therefore considered as a very auspicious day that brings new hopes to every body’s life. Most people believe in luck and prosperity, hence traditionally important decisions and investments have been made on this day, for anything new-starting a business, purchasing a home, new car, jewellery etc.

Gudi Padwa is a period of festivals all across communities, as it also coincides with the Sindhi Cheti Chand, Punjab’s Baisakhi, Tamil Nadu’s Puthandu, Andhra Pradesh’s Yugadi and Kerala’s Vishu. Property buying, in particular, involves a huge investment and besides affordability and market conditions, sentiments play a significant role in one’s home buying decision. Developers have always had a lot of confidence in the Gudi Padwa period and they go all out to woo buyers with special discounts and freebies. Besides traditionally they have been having a lot of enquiries and sale from prospective home buyers during this period, hence usually developers come up with their new launches during Gudi Padwa. Mumbai property market has always looked forward to brighter days around this auspicious festival.

The year 2019 has started off on a good note wherein the government has proposed various reforms and given tax benefits to the ultimate buyer as well as the industry such as reducing GST, removal of property tax for smaller houses, roll over of capital gains tax to two houses instead of one for capital gains up to Rs.2 crores, extending the benefit of self-occupied property to two houses, this means that income tax on notional rent will not be taxed on your second home, increasing the period of taxing notional rent on unsold inventory from 1 to 2 years, no tax on house rents earned up to Rs.2.4 Lakhs.These developments and revival indicators augur well for the sector and will definitely translate in an increase in sales on Gudi Padwa this year. With property prices having remained stable over the last few quarters, the market conditions are favourable, with home loan interest at an all-time low, choice of apartments available in the market, and government’s subsidies to meet the ‘housing for all’ objective.

Developers are thus looking at catering to more potential buyers along with building inexpensive and reasonable homes. This is a clear sign that the market is drifting towards a positive change. Although most of the customers today are into wait and watch mode, the sentiment on such auspicious occasions like Gudi Padwa are high. Property analysts maintain that traditions still prevail in our society and buyers, both young and old, are definitely influenced by a traditional festival like Gudi Padwa. Therefore, those who have already made up their minds will look forward to buy their dream home on Gudi Padwa. Analyst and market-watchers are pinning their hopes on affordable housing, which is seeing growth within the residential real estate category.

Since it is a buyer’s market, during Gudi Padwa, developers will give lucrative offers and easy payment plans, especially with banks and financial institutions offering lower interest in order to drive sales.

Hence buyers should take advantage of the current market sentiments and buy their home now.

Keeping this auspicious occasion in mind and the positive indicators Hiranandani Group is also launching 2 prestigious projects Lake Enclave and ‘Eagleridge – Tower A’. Located in picturesque settings of Hirandandani Estate, Thane are the magnificent and lavish expanses of ‘Lake Enclave’ and ‘Eagleridge’ offering infinity in everything- abundant nature with breathtaking views, luxury lifestyle, ultra modern amenities and excellent connectivity. While Lake Enclave will have lavish 3 and 4 BHK apartments, Eagleridge will have well planned 2, 2.5 and 3 BHK apartments. Thoughtfully conceived these apartments are elegant, spacious and offer the luxury of convenience and practical functionality. Thus this coming Gudi Padwa take your pick from the best in Thane-‘Lake Enclave’ and ‘Eagleridge’ by Hiranandani.

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