Mumbai: Those days where only 5 percent discount is availed is passé. Now builders are more ready to negotiate than ever if the seeker is willing to pay more up front. Today with extra down payments, one can avail around 12-15 percent discount. In the medium and lower segments, the discount is even higher.The very reason of this act is the growing unsold inventory in the city. Currently there are around 83,000 units of unsold residential inventory. 49% of this inventory starts at Rs 2 crore. Also the outskirt areas like Badlapur which was attracting the highest number of investors continue to produce the maximum number of units but subsequently receiving the tag of most unsold inventories. The weakening of the sector is forcing the builders to avail such schemes in a mission to allure more buyers. Ultimately this is a profitable situation for those in need of homes.The increase in inventory is exponential but the sale is inversely proportional to it. This is a clear scene of downfall in the net profits during 2012 as compared to previous years. And it seems this tricky situation would continue to exist in the present year too. So to overcome this difficulty several innovative ideas are generated in a builder’s mind. One of them was increasing the discount.Going to a broader perspective, the sector’s eyes are full of hope now, for a budget to satisfy the desires would likely to come in a few days that may fuel up the current scenario of real estate industry.
