A dream home, for many, is not just a concept, but an ambition, on which many spend their whole lives and savings, trying to attain it. And in this realm, developers/builders often try to attract their potential clientele with mouth-watering offers. One such offer, that took many by surprise appeared on the town square of the internet, X (formerly Twitter).
According to the digital flyer, the special deal offered by Arihant Super Infrastructure claims that the company would offer a brand new flat, free of cost, on the purchase of one of their flats on offer. On their official website, the offers still stand. This offer is advertised for their real estate asset Arihant Aalishan in Kharghar, which is one of the precincts in Mumbai’s twin city, Navi Mumbai.
But, when contacted the developers, the response differed from what was advertised. The company’s representative claimed that the said offer was currently unavailable. According to him, this seemingly lucrative offer has expired and was active for the time period of a month.
When enquired for the number of customers, who had availed the offer, the answer was not specific, as it was limited to just ‘many’, without quoting any specific number.
Through the conversation, we also learned, that the said offer was available on an under-construction project in Khopoli, a remote town in the district of Raigad, about 50 kilometres from the location of the original flat in Kharghar, again located in Raigad district, but outside the purview of Navi Mumbai city.
In addition, the company representative also spoke about a ‘new offer’, under which they would offer an iPhone 16, on the purchase of a new flat, a seemingly significant climbdown from one whole flat, in its entirety.
Some users online, who reacted to this advertisement, either raised their apprehensions over the validity and authenticity of the offer or most saliently indicated the potential trouble bubbling in the residential sector real estate in today’s climate.
This, interestingly also comes at a time when institutional investment in real estate, especially, the residential sector has seen a massive slump. According to a report from Colliers India, the residential sector saw a massive decline of 72 per cent in institutional investment during the January-March quarter.
The future of the sector would be decided by a myriad of factors, including the upcoming elections and the policies surrounding real estate, apart from the core factor of purchasing power and subsequent demand for units itself.
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This story originally appeared in the Free Press Journal and is published here under a mutual content-sharing agreement.
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