As the slowdown hits the realty sector, even though premium and luxury segment developers are offering freebies, mid-segment developers offer no such perks.

As a slowdown in the realty sector stares developers in the face, many builders said that they are concentrating on the middle segment.

However, unlike premium segment, mid-segment buyers shouldn't expect any freebies as developers said their margins were getting hit.

In fact, CMD of Parsvnath Developers, Pradeep Jain, who has also launched a mid-segment project in the NCR, said prices are not likely to drop much. "The present conditions will lead to a slowdown in implementation of projects. Instead of selling at losses, developers would delay projects," he said.

In the premium segment, things are a little different because of an oversupply situation. The NCR-based Jaypee group has offered luxury cars like Mercedes C200K, Toyota Land Cruiser and BMW 320i on the purchase of houses in the prices range of Rs 3 crore to Rs 8.25 crore in its upmarket project on Noida-Greater Noida Expressway. Even on the lower range of houses of Rs 85 lakh to Rs 1.50 crore, the group is offering cars like Maruti Zen, Honda City and Toyota Camry.  

The value of the freebies depends on the price of the house that is bought.

MD of Jaypee Greens, Rita Dikshit, said that to celebrate one year of the launch of these projects, the company was giving these items as a gift to customers who buy houses by November 11.

She said this was a goodwill gesture and not a sign of distress. "The company has no plan to reduce prices of its houses and apartments after the gift scheme ends on November 11," she added.

For premium buyers looking for attractive deals, there are plenty of choices.

In Mumbai, realtor Cosmos group is offering a one bedroom-hall-kitchen apartment in Thane free on the purchase of a bungalow in Lonawala near Pune. The group is also upgrading a two-bedroom apartment into three bedroom apartment for free in Thane and Lonawala.

In the NCR region, SVP group is offering freebies like a 50-gram gold coin on the purchase of an apartment in Ghaziabad.

Besides, most of the developers are doing away with charges for club membership and parking.

                                         Courtesy ET dtd:- 31st Oct. 2008