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Forget clothes and cars on sales. It’s time that you bought a house on sale! From free parking space to no stamp duty registration, the Indian Realty Flash Sale hopes to sell at least 2,000 flats during the three-day sale.
Significantly, Dubai is the overseas destination which has generated immense response to the flash sale.
“We have already had 6,500 coupon downloads. Consumers had to register and get a coupon. This coupon will then have to be redeemed at the developers’ stalls,” Narasimha Jayakumar, Chief Business Officer, online realty portal 99acres.com said.
He said the company is expecting at least seven lakh people to visit the site, and that Mumbai, Pune, Delhi and Bengaluru were seeing good coupon downloads.
Incidentally, there are no transactions taking place when the buyer shortlists the property online.
Buyers will be issued a coupon code which indicates the discounts on short listing the property.
After the event ends on June 28, the buyers will have to take the coupon code to the developer to avail the offer and book the property.
Om Ahuja, CEO, Brigade Group, one of the developers participating in the flash sale, notes, “Consumers are increasingly moving towards the digital arena. We have been seeing that bookings from on the digital platform now equal that of a raditional exhibitions. Additionally, our return on investment from the digital media is far higher than traditional mediums.” Ahuja said that the discounts and deal offered during the flash sale would be boost buyers’ sentiments. Amura Marketing Technologies, one of the organisers for the event, said the sale features exclusive deals from over 52 developers across India.
“The idea of the flash sale is to pass on the benefit from the developer to the consumers, directly eliminating the middleman. Some developers are offering anywhere between 5 and 25 per cent on select inventory,” Vikram Kotnis, Managing Director, Amura Marketing Technologies said.
Kotnis added that some are even offering stamp duty and parking space for free.
He pointed out that the flash sale only lists properties which have bagged all approvals, and are ready for construction, and that the highest demand was from the in the sub-₹50 lakh segment.
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