The Festive Season Fuels Real Estate Surge: Experts Share Market Trends, Outlook, and Key Sales Drivers

As India enters the festive season, the real estate sector is gearing up for a surge in activity, driven by cultural traditions and heightened buyer sentiment. Developers across the country are launching new projects and offering attractive incentives, such as flexible payment plans and additional amenities, to capitalize on this period. Demand for larger living spaces, spurred by the pandemic, remains strong, particularly in suburban areas. Despite challenges like rising construction costs and fluctuating interest rates, the market outlook is optimistic, with experts predicting robust sales, especially in mid-range and luxury segments. This festive season could prove to be a turning point, rejuvenating the real estate sector amid economic recovery efforts.

Industry Experts Opinions

Mr. Vishal Raheja, Founder & MD, InvestoXpert.com

“As the festive season is knocking on the door, Investoxpert is anticipating a significant upswing in the realty market in India. Housing sales will probably touch new heights with an estimated growth of 20-30% from last year's sales. Further detail from our analysis is that premium and luxury home buyers are 59% of the lot, and they are looking to buy properties ranging between Rs 45 lakh to Rs 1.5 crore. Festive spirits have already been capitalised by developers offering attractive deals like discounts and flexible payment plans.

Special loan schemes from financial institutions are making it all the more encouraging. We also consider this season as the right time for homebuyers and investors. All of these factors, auspicious timing, developer incentives, and favourable market conditions as a whole have made this an ideal environment for real estate transactions. We sense that this will be the turning point period for the sector, setting new standards and offering enormous opportunities for entry or further penetration into the market.”

Mr. Sunil Sisodiya, Founder, Geetanjali Homestate

"The Indian real estate market seems to touch new highs, with the festive season around the corner. This holiday season seems to be in for a 15-25% spike for the largest and most prominent real estate developers. The latest stats in the country's seven major cities reveal astonishing sales of property up 36% in Q3 2023 against the same period last year. This upward momentum finds support in the current home loan interest rates ranging between 8.50% to 14.75% per annum, available from all lenders. The resilience of the sector is also coming forward as consistent growth after the pandemic too, going by the expansion projections of reaching US$ 5.8 trillion by 2047 and potentially contributing 15.5% to India's GDP. Going into the festive season, we can expect healthy sales and launches, which would further consolidate real estate as a destination for investment in the country. The festive season could prove to be a golden opportunity for homebuyers and investors to get on the rising bandwagon of the market with perhaps the right deal."

Vaninath Reddy Renati, Founder and CEO, Buloke Realty Ventures

"From last 4 years of closely working in the realty space, and one year of creating a platform where Real Estate Enthusiasts can diversify their portfolio, I have clearly observed a great surge in the interest of the Realty Enthusiasts that they can be part of various large projects that are being launched by leading developers. The growing trends in the Residential Realty sector is an added fuel to attract the millennial  to start their Real Estate Journey. As the festive season ahead, it's very obvious many will look to start their journey, many would want to expand the portfolio. Wishing everyone a great festive season."

Pavan Tripathi, Founder & Director at Elegance Enterprises

"We are observing a notable increase in project visibility and sales as we enter the festive season. Our clients are strategically preparing to close deals during this opportune time, recognizing the potential for heightened engagement and successful transactions. This season presents a unique opportunity for collaboration and growth, benefiting all stakeholders, including buyers, sellers, and channel partners. The positive momentum we are experiencing underscores the importance of timely initiatives and strong partnerships in achieving collective success. We remain committed to leveraging this auspicious period to drive results and foster enduring relationships across the industry."

Raghunath Bhattagiri, Co-founder & MD, Triguna Projects Bangalore

"Triguna Country Homes has experienced a notable uptick in interest this season, resulting in several confirmed sales. Many of our clients, particularly those from North and South India residing in Bangalore, are eagerly awaiting the auspicious occasions of Navratri, Dhanteras, and Diwali to finalize their farmland investments. We anticipate a strong influx of advance bookings, as buyers are poised to make their token payments during this festive period. These celebrations not only reflect the values and aspirations of buyers seeking prosperity but also present an excellent opportunity for developers to meet market demands while ensuring transparency and avoiding legal complications."

Mr. Ashish Agarwal, Director, AU Real estate

"The festive season is undoubtedly the ideal time to buy property, as it presents a unique confluence of opportunities for prospective homeowners and investors. Developers capitalise on this sentiment by launching new projects and offering enticing discounts and promotional offers that can significantly reduce overall costs for buyers. On the other hand, Buyers can take advantage of various financial incentives from banks, including lower interest rates and special home loan schemes designed to make purchasing more accessible. Additionally, many developers provide attractive perks such as free appliances, reduced registration fees, and even cash back on purchases. These incentives not only enhance the value proposition but also stimulate a competitive environment among developers to attract buyers.

Moreover, the ongoing infrastructure development in many regions further supports the decision to invest in property now. Improved connectivity and amenities increase the attractiveness of newly launched residential projects, promising better long-term value appreciation. As residential launches rise to meet the growing demand during this festive period, buyers are presented with a broader selection of properties to choose from. In summary, the combination of festive cheer, financial incentives, new launches, and infrastructure growth makes this an opportune moment for anyone considering a property investment."

Mr. Pankaj Pal, Managing Director, Whiteland Corporation

"Millennials are driving a new wave of demand in Gurgaon’s luxury residential market, purchasing high-end properties much earlier in life than previous generations. This shift is fueled by factors such as rising disposable incomes, increased access to flexible financing, and a preference for modern, amenity-rich living spaces that offer both lifestyle and investment value. Gurgaon, with its rapidly evolving infrastructure and premium developments, has become a prime destination for millennial buyers seeking luxury homes. Recent data shows that nearly 45% of luxury homebuyers in the region are now under the age of 40, reflecting their desire for early financial security and upgraded living standards."

Mr. Yashank Wason, Managing Director, Royal Green Realty

"Festivals like Navaratri are seen as an auspicious time for making significant purchases, particularly real estate, as homebuyers associate this period with good fortune and prosperity. During festivals, developers often roll out special offers, discounts, and financing schemes, making it an attractive time for homebuyers to invest in property. Additionally, many new project launches are timed to coincide with the festive season, giving homebuyers a wider array of choices. Strategically, both buyers and sellers should focus on transparent transactions and plan well in advance.

Buyers should be clear about their requirements, and sellers should emphasize value propositions that go beyond short-term discounts, ensuring lasting appeal and trust. For homebuyers, this period is an opportunity to secure better deals and incentives, but they should carefully evaluate the long-term benefits of these offers. It's important to conduct due diligence, compare options, and ensure that the discounts translate into genuine savings. On the other hand, for sellers, festivals bring a surge in demand, allowing them to negotiate better prices. However, they must remain mindful of the competitive landscape, as multiple developers and sellers may be offering enticing deals."

Mr. Harinder Dhillon - Senior Vice President Sales, BPTP

“As the festive season arrives, it brings a wave of optimism and increased economic vibrancy, particularly in the real estate market. During this festive period, buyers are drawn to new investments and properties, spurred by attractive deals, auspicious timings, and a sense of optimism that pervades the season. This trend reflects not only the cultural significance of home ownership during festivals but also the evolving preferences of today’s buyers, who seek quality, location, and modern lifestyle amenities. This has a significant impact, as the festive period often accounts for a substantial portion of annual sales.

The festive season not only boosts the real estate market but also reflects a deeper connection between cultural values and investment choices, making it a pivotal time for the real estate industry each year. As a premium real estate market, Gurgaon experiences this festive surge firsthand. We are confident that the upcoming festive surge in activity will further solidify Gurgaon’s position as a dynamic and appealing market for both investors and end-users."

Mr. Amlan Dutta, VP Sales & Strategy, Trehan Iris

"The festive season has historically been a catalyst for real estate activity, and this year is no exception. Moreover, surge in consumer sentiment, coupled with attractive financing options and new project launches, has significantly fueled a surge in demand. Buyers are eager to invest during this auspicious time, seeking properties that offer both value and lifestyle enhancements. As we navigate through this dynamic period, we anticipate continued growth in the market, driven by evolving buyer preferences and a robust outlook."

Atal Dhuvariya, Sales Head, Skyline Builders and Developers

"Homeownership is a deeply personal aspiration for many, and everyone seeks to acquire a home at a time that suits their individual circumstances. Festivals offer that opportune moment, especially in the real estate sector, which is a high-volume market. Owning a home is a significant investment that typically occurs only once or twice in a lifetime. Therefore, individuals strive to make this purchase at a time that aligns with their personal preferences, and festivals often provide favourable conditions for such acquisitions."

In this festive season India’s real estate sector is poised for a surge in activity, driven by cultural traditions, buyer sentiment, and enticing developer incentives. Experts predict a robust increase in sales, especially in mid-range and luxury segments, as demand for larger living spaces remains high. Developers are capitalizing on this period with new project launches, flexible payment options, and special offers. Despite challenges such as rising construction costs and fluctuating interest rates, the outlook remains optimistic, with the festive season likely to act as a pivotal moment, rejuvenating the market amid ongoing economic recovery efforts.