Diwali 2024: Real estate festive offers in Delhi- NCR have it all – from gold coins to a free Lamborghini

Besides flexible payment plans, developers this festive season have also on offer sustainable living-focused amenities such as EV charging ports for all flats, home automation, and solar geysers, say experts.

What takes the cake is perhaps an ultra luxury housing project in Noida that promises a free Lamborghini with each villa purchase to buyers. Realtor Gaurav Gupta’s post shared details on social media, noting that each villa costs at least ₹26 crore. “Amazing neighborhood! Everyone has the same villa and the same car and it’s all premium. What could go wrong?” joked one netizen. “Car cost is already included and the builder is still making more than 50 percent in margin,” another user pointed out.

Signature Global, another builder in Gurugram, recently held a Best of All Time realty fest with offers ‘jo sabki bolti band kar de’. Besides the 15% discount for customers, free club membership and parking, Rado watch pair, there was also a lucky draw held wherein three buyers won luxury BMW cars priced at ₹60 lakh.

Also Read: Diwali 2024: Record 11,861 properties registered in Mumbai in October 2024, a 21% spike compared 9,736 in Diwali 2023

“At Signature Global, our goal is to go beyond building homes—we strive to bring joy, warmth, and a true sense of celebration into the lives of our customers. This year, with our BOAT Fest, we wanted to make Diwali even more special, offering not only exclusive property options but also a festival of rewards and experiences. By combining our finest developments with festive gifts and moments of excitement, we aim to create lasting memories and bring the spirit of Diwali into each customer’s journey with Signature Global,” said Pradeep Aggarwal, founder and chairman, Signature Global (India) Ltd.

“Real estate is emerging as a strong investment segment in the country, driven by a rising demand for premium projects. Diwali is an auspicious time for investing in avenues that promise long-term economic stability. Buyers can look forward to receiving a complimentary gold coin with every booking made through us in Goa. Additionally, we are doling out iPhone 16 with every alternate booking in the Tricity and Dubai markets for a few clients,” said Ambika Saxena, Director of Corporate Communications Bayside Corporations.

Also Read: Diwali 2024: Bengaluru real estate developers gear up for new project launches; offers and discounts take a backseat

Uddhav Poddar, CMD, Bhumika Group says, “This year we’ve curated exclusive rewards, such as our Diwali Shopping Fest Lucky Draw, which includes premium prizes like iPhones and home essentials.”

Buyers should evaluate the fine print of the scheme

While these festive offers are attractive, buyers should ensure that they make informed decisions and carefully evaluate the fine print, particularly regarding long-term maintenance costs and the actual benefits of these add-ons.

If a homebuyer is being offered a freebie that he already owns or does not need, he can opt for other discounts. For instance, if a developer has offered ACs in two rooms and a hall in a 2BHK apartment, one can instead seek a reduction of a lakh from the total outgo. Buyers should get a fix on how these freebies translate monetarily, said an expert.

According to Samir Jasuja founder and CEO at PropEquity, if developers are offering luxury cars along with a super luxury properties, the buyer should go in for the discount equivalent to the price of the car and get it adjusted in the value of the apartment.

Also Read: Diwali 2024: Do festive discounts matter to Mumbai’s crorepati homebuyers?

“Most developers offer such deals to maintain the price of the property in the future. Even when the offer is withdrawn, the price of the last transaction recorded would include the rate of the housing unit along with the freebie offered as part of the festive scheme. Such offers therefore help set a price benchmark and enable buyers to make instant decisions. Most developers inbuilt the price of the freebie into the unit cost itself or as part of their marketing budget to excite buyers,” he said.

Also, not all developers would offer such freebies, especially if it concerns a ultra luxury project and is a by-invitation only. “These freebies may be offered by developers wanting to get into the super luxury segment or those launching mid-segment projects,” he added.

Real estate sales and new launches

According to CBRE, developers’ offers this Diwali included EMI waivers, and free registration and stamp duty and additional benefits like modular kitchens, electronics, free car parking spaces, and even furnished apartments.

This festive season has also seen new property launches, a trend consistent with previous years. Given the strong performance in the first half of 2024 and the sector’s propensity to peak during the festive season, CBRE anticipates that both sales and new launches will exceed 300,000 units for the second consecutive year, it said.

Agrees Dhruv Agarwala, Group CEO, Housing.com and PropTiger.com. “We anticipate a substantial increase in housing project launches and sales during the current festive quarter. Over the first two quarters of FY25 (April to September), new residential supply has been subdued due to several factors, including inflated home prices driven by investor speculation, the Lok Sabha elections, the monsoon season, and the inauspicious Shradh period. During this time, developers have largely taken a cautious ‘wait-and-watch’ approach.”

“However, we expect heightened activity in the housing market during the October to December quarter. With the Durga Puja festival held in the first week of October, followed by Diwali, and culminating with the Christmas-New Year season, there is an expected surge of new launches across major cities,” he added.