Housing developers have announced special offers on purchase of apartments, individual homes and spaces at commercial complexes in a bid to woo customers during the festive season.

Developers like CE Construction, Bajra Shangrila Residency and CTC Mall have launched special offers, while Downtown Housing and Greenhill City are working out their festive offers. Similarly, Shangrila Housing is relaunching its apartments eyeing festive buyers.

CE Construction has launched special offer for its ready to move in apartments at Grande Towers, Dhapasi. Babu Thapa, sales manager of the company said customers can move into the apartment by paying just Rs 1 million in the beginning. “The remaining amount can be paid within five years on monthly installments without any interest,” he added.The apartments cost between Rs 4.5 million to Rs 8.2 million.

“We introduced the offer targeting budget customers who cannot pay huge amount at once,” Thapa saidAnother developer, Bajra Shangrila, is giving away 5 tolas of gold with every purchase of two bedroom apartments and 10 tolas of gold with three and four bedroom apartments at The Residency. Uma Thapa marketing officer of The Residency, said only the customers making full payment for 30 remaining units will get the freebies.“This offer is our special gift to our customers for the festive season and we believe it will help enhance our sales,” she added.

The Residency has apartments with spaces ranging from 675 square feet to 1,365 square feet. The price of these apartments ranges from Rs 4.99 million to Rs 10.06 million.The Sun City Apartments at Gothatar, which is promoted by Shangrila Housing, has three and four bed room apartments with spaces ranging from 859 square feet to 1,431 square feet. The price of these apartments ranges from Rs 3.47 million to Rs 5.51 million.

Housing developers have claimed that the demand for budget homes and apartments is on the rise. Rise in revenue collection at land revenue offices also substantiates their claim.

“The special offers will definitely increase housing transactions as land and housing transactions is gradually picking up,” Manoj Chandi Shrestha, founder of HousingNepal.com -- a real estate portal that looks after marketing aspects of housing developers, said.“Developers announce special offers during Dashain and Tihar as their purchasing capacity increases at this time of year driven by bonus, benefits and remittance received,” he said, adding, “Besides, there are many people who wait for festive season to invest on fixed assets and the banks also announce special interest for home loans at this time of year.”

Interest on home loans has come down in range of 9.5-11 percent compared to 14-15 percent of last year.

source: republica,18 Sept 2013