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 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 purchase of one of their flats on offer. On their official website the offers still stands. 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 FPJ contacted the developers, the response was different from what was being 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 kilometers from the location of the original flat in Kharghar, again located in Raigad district, but outside the purview of Navi Mumbai city.
A Screengrab of the website with the offer |
Is Residential Sector On Decline?
In addition, the company representative also added the 'new offer', the company said, it would offer an iPhone 16, on purchase of a new flat, a seemingly significant climbdown from one whole flat, in its entirety.
Although it was claimed, that the said offer has expired, it continues to be actively exhibited on their website.
Some users online, who reacted to this advertisement, either raised their apprehensions over the validity and authenticity of the offer or most saliently indicated towards 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, 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 a myriad 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.
