Go beyond festival discounts if you are planning to invest in a property

The discounts offered now may also remain in the near future until sales pick up and developers are able to hike prices

Developers have started offering discounts and freebies on residential properties as we get closer to the festival season. The most common is a waiver of goods and services tax (GST) of 12 per cent. On a property of Rs 5 million, it’s a straight saving of Rs 600,000. In some instances, the developers are even willing to bear the stamp duty and registration charges, which are another 5-7 per cent. Then there are flexible payment schemes and even freebies such as gold, modular kitchen and air conditioners.

The discounts and schemes are similar to those of last year, but they