Gold, real estate markets ready for attractive prices
Gold and real estate markets are prepared to offer the best of deals this Gudi Padwa, to be celebrated.
Traditionally, on the auspicious occasion of Gudi Padwa, people buy new things like gold and apartments to start the new year with new promises. Cashing in on this, the gold and realty market gear up every year to attract more buyers.
The realty sector is passing through a phase of transition, but is eyeing a good numer of bookings of flats on the occasion. Meanwhile, the gold market, which had been affected due to the government’s demonetisation move, is also expected to shine on the day.
Umesh Wankhede, secretary of Confederation of Real Estate Developers Association of India (Credai), Nashik, told TOI, “Currently, the realty sector is passing through a phase of transition. The new draft development plan (DP) and the development control promotions and regulations (DCRP) have been introduced. The Real Estate (Regulation and Development) Act (RERA) will also come into effect from April 1. Due to this, the realty sector will get a status of industry and it will also bring transparency in the sector. Moreover, the union government has also introduced various schemes to boost affordable housing. So, we think that the next financial year is expected to be good for both the consumers and the builders.”
There are no new projects coming up in the city, but the demand is increasing nonetheless. Wankhede said, “Gudi Padwa is the most auspicious occasion for consumers to either book flats or enter their new homes. There are no new projects coming up right now, but there is enough supply to match the demand. The demand is mainly for small flats like 1BHK and 2BHK. So, we are expecting a good number of bookings of flats from the people on the occasion of Gudi Padwa.”
Apart from the realty sector, the gold market has also rolled up its sleeves to cash in on the festive season. Most citizens on the occasion, prefer to invest in gold or silver on the day.