Discount drives property sale during lockdown

Leading developers and property consultants in NCR have claimed to achieve 50% of sale during lockdown in comparison with the same period, last year. Discount up to 10%, reduction in home loan interest, less booking amount is driving the sale, developers told ET.

We came out with ‘Lockdown offer’ for our commercial as well as residential projects where we asked the buyer to pay Rs one lakh to book as against the full booking amount, the rest of the amount could be paid within the 100 days,” Manoj Gaur, MD, Gaurs Group.

He said that bookings of more than 700 units valued at around Rs 225 crore across various projects located in Delhi NCR were made in two months, which is 50% of what was in 2019.