After manufacturers of white goods and automobiles flooded the market with buy-back and exchange offers, it’s now the turn of builders to come up with similar marketing schemes.

Pune-based City Corporation Ltd has made a start in this direction at its Amanora Township. But its week-old offer inviting customers to trade in their existing houses in city limits that are less than 20 years old for a new one is yet to translate into clear-cut bookings. The township has two, three and four BHK apartments in the price range of Rs 60 lakh to Rs 1.5 crore.

J K Bhosale, chief operating officer, City Corporation, said the firm aimed at selling about 100 apartments of the 200 through this initiative. “Depending on the success, we might even extend the scheme. We are hoping to cash in on the mindset of the house-owners who want to upgrade to a home with better facilities. Inquiries for the buy-back offer are pouring in, but we haven’t officially sold any house till now.”

According to the scheme, a panel of two government approved valuers has been appointed. Mandar Gadve, one of them, said the valuation for old houses will be done in accordance with the market. “Various factors like depreciation, wear and tear and prevalent rates in the locality will be taken into consideration. However, if the customer finds a better deal they are free to sell it elsewhere. Otherwise, he is assured that we will buy the house for the fixed price,” Gadve said.

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