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This story is from October 23, 2005
Buy a house and get a scooter free!
With Diwali round the corner, developers in Vadodara are pulling out all the tricks to woo prospective homeowners.
With Diwali round the corner, developers in Vadodara are pulling out all the tricks to woo prospective homeowners.
Along with the two-room apartment at Kirtan Complex at Waghodia, costing around Rs 3 lakh, the builder is offering a free branded water purifier.
"Incentives, discounts and gifts have always been a pull factor for customers, especially during Diwali," says Parthesh Parikh of Krishna Developers Developers admit they had to resort to freebies to counter the slump in residential real estate.
Even properties at prime locations like Karelibaug, Old-Padra road, Sama and Waghodia are going empty, admit builders. They blame the stagnant population growth in the city for this. "We are adopting innovative marketing strategies to cushion the slump," says Chandan Patel of Swami Constructions who provides a Rs 20,000 discount during Diwali.
Ramesh Khemani, for instance, provides washing machines on booking a house in Nirmal Flat at Karelibaug. It's not just household appliances, even two-wheelers like Activa are on the platter. "With incentives like these we can at least get a prospective buyer to come and have a look," says Chaital Bhatt of Somnath Infrastructure Pvt Ltd.
He allows early bird customers to pick one item from ��� a 25-inch flat-screen colour TV, a refrigerator, a washing machine and microwave oven. Builders say the trick seems to have worked. They are getting curious callers asking for the rates, many call up asking about the schemes and discounts.
As Khemani puts it, "I have received several calls from prospective clients asking how and when would they actually receive the washing machine." However, Harshad Brahmbhatt, president of Baroda Estate Agent Association, says, "Such sops can only work in the short run. These cannot help the scenario of real estate business in the long run."
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