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Akshay Tritiya sways property deals

Saturday, April 30, 2011

All significant deals and decisions are swayed by religious considerations. Akshay Tritiya rules the roost when it comes to property-linked decisions. The day, considered very auspicious by religious Hindus, is known to affect the realty market owing to its consequences on the buyers’ psyche.

Right from Gudi Padwa till Akshay Tritiya, sales tend to spurt by at least 10 per cent. Today, the real estate industry isn’t as seasonal as it used to be. With the exception of the monsoons when sales tend to slack just a wee bit, it’s mostly regular throughout the year. However, it’s during periods like these during festivals that sway buyers’ decisions that property sales tend to register spurts.

“I  had to wait for a good three months before moving into my new home on Akshay Tritiya last year,” recalls 34-year-old pharmaceutical executive Shailesh Gosavi endorsing the sway the occasion held for devout Hindus. “My mother refused to step into the new home on any other day. It was the only way to placate her considering that she had gone ballistic when I signed the property papers sometime in early January and not on Akshay Tritiya as opposed to her earnest desire,” maintained Shailesh.

“Property matters aren’t exactly one-day affairs that can be done on one single auspicious day, like Akshay Tritiya, but are definitely affected by such religious occasions,” says Hiranandani Group’s Managing Director Surendra Hiranandani. “Whether it’s taking a new apartment, initiating one’s home’s interiors work, renovating a home or simply…giving up smoking, it’s spurred by an occasion. And, there can’t be a better occasion to initiate new ventures than Akshay Tritiya,” maintains Mr Hiranandani. “So, even if the process is long-drawn, either the ‘signing of documents’ or ‘first entry’ or ‘the initiation of a process’ done on Akshay Tritiya considered very auspicious for a colossal number of potential home-owners,” he says. “Which is why, there’s a distinct spurt in sales at our end on this day,” adds Mr Hiranandani.

Religious sentiments run high this day and no amount of cajoling or convincing can change a buyer’s mind. “Potential home-buyers usually insist on either paying the initial signing amount of their home; finalise a property deal or just move into their new home on Akshay Tritiya to ensure a prosperous future,” says realty consultant Shyam Kothari. “I’ve had clients even flying down all the way from the US simply to book their property, in person, on Akshay Tritiya,” asserts Mr Kothari, a wee amused with the strong sentiments that rule the buyer’s senses. “But then, it all depends on how you look at it,” asserts partner Miheer Mehta, “Considering the deals that we manage to strike on that day, it sure works out to be very auspicious for us…year after year!”

There can’t be a better occasion to initiate ventures than this
Property matters aren’t exactly one-day affairs that can be done on ‘a’ single auspicious day, like Akshay Tritiya, but are definitely affected by such religious occasions...

Whether it’s taking a new apartment, initiating one’s home’s interiors work, renovating a home or simply…giving up smoking, it’s spurred by an occasion. And, there can’t be a better occasion to initiate new ventures than Akshay Tritiya
— Hiranandani Group’s MD Surendra Hiranandani

Most auspicious occasion to invest in property or indulge in home purchase
Akshay Tritiya provides the perfect auspicious opportunity to buyers to make a purchase of property on the day that matters the most to a Hindu. For Maharashtrians, South Indians and most other Hindus, the day is right to indulge in the choicest purchase for one’s home by way of investing in an electronic item or get a piece of furniture delivered or a flat booked on the day. Every second of the day is considered auspicious as there is no need to find a good mahurat for initiating anything on Akshay Tritiya

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