Despite the surge in property prices, builders expect bumper sales again in the festive season. These include both residential and commercial spaces. According to a report by PropTiger.com, a subsidiary of RERA India, average property prices in most cities have increased by double digits this year compared to the same period last year. The online property brokerage firm further said that due to the increase in construction costs, property prices have increased further in 8 major residential markets of India in the last one year.

Attractive projects and deals
While buyers are waiting for interest rate cuts, developers are coming up with attractive projects and deals. According to the report, "RBI has maintained the repo rate at 6.5% in the last 10 MPC meetings. This is further increasing pressure on pricing. Due to high repo rate, developers as well as buyers have to pay a lot of interest. This affects property sales. 

Demand for real estate market increases during festive season 

NAREDCO National President G Hari Babu said that the festive season is an important factor in increasing demand in the real estate market. This period coincides with the auspicious buying time, which encourages home buyers to make significant investments. He further said, "The industry usually sees an increase in inquiries and sales at this time, as developers launch new projects as well as do attractive festive promotions. 

Buyers are more motivated during this season, leading to increased activity in both residential and commercial spaces." Builders expect sales to grow by 5% to 20% in the housing segment. Mohit Goyal, Managing Director, Omaxe, said that with the festive season approaching, we expect a robust growth in sales, driven by renewed confidence in the market and positive sentiments towards economic growth.