To drop up the fall in real estate prices, developers in the Capital’s outskirts have opened an expensive gift shop to drum up demand for property.

A set of duplex flats is being offered along with a BMW or even a Mercedes as bonus. Some others come with tickets to the Alps or a seven-day sojourn in London. And the most lucrative gift of them all? A flat free if you buy in bulk of five to 10.

Diwali has always brought freebies from the developer community. But this year’s festivities have come with a liquidity crunch coupled with a drop in sales, builders told Newsline.

A Gurgaon-based consultant said: “The National Capital Region (NCR) has emerged as a mature market over the last three years. Investors are finding it difficult to hold on to property for long. This would mean there are genuine buyers and end-users in the market. Developers are now trying to tap the more significant segment of end-users.”

Several property shows are on at the moment in the NCR region, where buyers can check out homes as well as the attractive schemes that come with it. Many developers are offering heavy discounts like assured returns, payments under construction-linked plans, or direct discount at the time of a project’s launch.

Delhi-based Services (India) Pvt Ltd have fairs going on in Noida and Gurgaon till October 12. Nearly 25 big and small developers are presenting their projects, along with that something ‘extra’. Real estate company Omaxe has also pitched in this time — its Home Loan Mela at Sector MU in Greater Noida is running to a packed house.

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