Builders line up innovative schemes for potential customers

Deal time: Free modular kitchen scheme, interior designing and more schemes await buyers.  

Necessity is the mother of invention, it is said. And perhaps driven by this maxim, many real estate developers and builders in city are coming up with innovative schemes and marketing strategies to catch the attention of potential customers in these post-boom days.

So much so, customers now have wide variety of choice to pick the best scheme and venture that suits their budget. T

o name a few such schemes, SMR Vinay Constructions offers free registration and interior designing for those buying a flat at their latest projects in Kukatpally, Miyapur and Gachibowli.

Aparna Constructions has slashed its price for its projects Kanopy in Medchal and Sarovar in Gachibowli. 

As an introductory offer it had even offered monthly rent of about Rs.15,000 for buyers till possession of the flat. And then there is Cybercity's free modular kitchen scheme for the first 100 bookings at its venture Rainbow Vistas near Hitec City MMTS station.

These days customer is the king and builders have to convince them about the price quoted for the projects. Initiatives in the form of schemes act as a catalyst in attracting their attention and influence their decision making, observes D.S. Prasad, Director of Aparna Constructions. 

“These schemes do help in increasing enquiries and generating sales. For our Sarovar project, the rent free scheme fetched us 70 bookings in one month and about 130 flats were sold. Similarly, for Kanopy project there were 690 visitors and over 3,200 calls. Its boosts our morale as well,” says Mr. Prasad.

Also, they benefit both the parties. While, builders hope for good business, buyers are provided with extra benefits. The price quoted for Rainbow Vistas project is Rs. 2,750 per sq. ft, of which, Rs.150 per sq. ft is spent on modular kitchen and wardrobes. Such offers increase curiosity among customers, adds Uttam Korupulu, Chief Executive Officer of Cybercity Builders and Developers.

    

Price difference

“Every customer would like to have attractive furniture in his new home and we bargain with manufacturers and procure the kitchen furniture and wardrobes in huge volumes at much lesser price. The price difference is offered to the customers through the scheme,” explains Mr. Uttam.

It's all about presenting the projects in a new way and attracting customers. Most customers still expect the prices to come down and adopt wait-and-watch methods.

But the real story is - schemes are announced to declare that the prices have already hit rock bottom and it is good time to purchase, informs S. Rami Reddy, Managing Director of SMR Vinay Constructions. 

It is offering free registrations and interior designing. A 2 BHK flat is priced about Rs. 35 lakh and 3 BHK range varies from Rs. 40 to 70 lakh. The free registrations and interior design schemes works out in saving about Rs. 4 lakh for a customer.

This apart, if the customer is not happy with the scheme, there is the option of availing the scheme amount as discount in the original price. There has been 25 per cent conversion from enquiries to sales, he adds. 

Due to financial constraints, many projects are being developed at 15 per cent below the break-even and this is done just to ensure regular cash flows.

For potential buyers this the perfect time to purchase, advises Mr. Reddy.

Source :S. SANDEEP KUMAR ,The Hindu,Chennai,May 22,2010