Indian real estate developers are gearing up to offer attractive incentives to buyers amid slowing demand and higher interest rates.
The Delhi edition of the Financial Express says Ajmera Realty and Infra India have introduced an advanced disbursement fund scheme for their clients.
This will mean Ajmera takes on the interest on home loans for apartments for a period, in an effort to make property more affordable.
Elsewhere, the Express also reports Puravankara Projects, based in Bangalore, are looking to launch a mortgage finance scheme for possible buyers.
Quoted by the paper, Prakash Garbaxani, boss of QVC Realty, said:
“What we would be looking at is focusing on providing long-term benefits to potential buyers, rather than offering short-term incentives. “
He added the firm was working with “various banks” to get projects and ideas pre-approved.
Many banks have recently upped interest rates, although experts have said these should ease in the long-term.
The rate hikes and inflation have seen Indian real estate prices slide in the last few months, following an unprecedented boom period.
Prices should rise again “within a year or so” Prashant Solomon, joint boss of a Gurgaon development project, told ExpressEstates.in on Friday.
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