The festival season of Navratri has always been seen as the time to start afresh, making it a crucial time for India’s residential realty sector. However, this year the festive mood faces a number of challenges in addition to that. The recent RBI hike of the repo rate by 25 basis points to 5.50%, announced on October 7, has brought home loan rates back into focus, along with other factors like GST classification, property price and cost of construction.
Ashish Bhutani, CEO, Bhutani Infra said, “Festivals have always been a powerful catalyst for real estate demand, but the Indian property market is evolving beyond festive discounts and short-term incentives. Today’s buyers are more informed, financially conscious and focused on long-term value. While GST, borrowing costs and the recent rise in interest rates influence purchasing decisions, they do not diminish the fundamental strength of real estate as an asset class.
The real opportunity for developers lies not in offering bigger discounts, but in creating greater value through superior infrastructure, strategic locations, transparent pricing and developments that deliver lasting utility. For commercial real estate, sustainable rental income, strong occupancy and long-term appreciation remain far more important than promotional returns.
I believe this Navratri will reinforce an important shift in the market: buyers are no longer simply purchasing square footage; they are investing in quality, credibility and future potential. The developers who understand this shift will lead the next phase of India’s real estate growth.”
Raghunath Reddy Bhattagiri, Co-founder & Managing Director of Triguna Projects said, “While Navratri’s festive spirit often speeds up home buying decisions, a property investment must ultimately rest on fundamentals like location, infrastructure and future liveability. Buyer’s today are evaluating connectivity to job centres, transport, schools and daily conveniences before committing their savings.
With the repo rate now at 5.50%, careful financial planning is essential for home-loan buyers, even as GST rationalisation on construction inputs offers some relief to developers. In this market, projects with strong planning, credible execution and genuine appreciation potential will stand out. This Navratri, look beyond festive discounts and invest in fundamentals.
Amit Porwal, Founder, Aranyakaa Farms said, “While Navratri traditionally inspires buyers to view farmland and real estate as generational investments, festive activity should not drive impulsive purchasing. Real estate transactions, in particular, require meticulous investigation – ownership titles must be clear and zoning or agricultural land permissions under development laws must be strictly verified before paying any money. Buyers must also evaluate road access, infrastructure and overall site feasibility. In an environment of rising borrowing costs, investors must prioritize stability over speculation.”
Ravikant, Co-Founder Elegance Enterprises and Infra said, “The atmosphere of Navratri is a good one in terms of emotion because families like to undertake any major decision in such auspicious times. But buying property requires financial readiness and not the need to buy in the festive season. As the repo rate currently stands at 5.50%, potential buyers need to carefully consider factors like loan availability, ability to pay back and even chances of change in interest rates. The developers have to provide transparent pricing, documentation, and delivery time frame too. We see the end users being active in this festive season due to planning and utility considerations.”
HS Kandhari, Co-Founder & Executive Director, Harmony Infra said, “Navratri traditionally brings positive sentiment to the housing market, but today’s homebuyers are making more considered decisions. Along with location and amenities, buyers are looking closely at construction progress, connectivity, surrounding infrastructure and the credibility of the developer. Rising borrowing costs and the overall cost of homeownership, including applicable taxes, are also influencing purchase decisions. While the festive season may encourage buyers to move ahead with their plans, confidence in timely delivery, construction quality and long-term value will ultimately drive demand, particularly in the premium housing segment.”
Neeraj K. Mishra, Executive Director, Ganga Realty said, “The festive season brings renewed optimism to the Indian real estate market, as homebuyers increasingly look to turn their dream of owning a home into reality. There is a growing preference for luxury and premium residences that offer spacious living, modern amenities, better connectivity and a superior lifestyle experience. Gurugram continues to attract strong interest from homebuyers, particularly along the Dwarka Expressway, which is emerging as a prominent residential destination. Sector 90, in particular, holds significant potential, supported by its strategic location, improving connectivity and evolving social infrastructure. Today’s homebuyers are looking beyond just a property; they seek long-term value, comfort, security and a home that reflects their aspirations. The festive period is an opportune time for families to make this important investment, with many choosing auspicious occasions to take the next step towards homeownership. We remain optimistic about sustained demand for quality residential developments in Gurugram as the market continues to evolve.”
Ravi Prakash Panday, Founder & Chairman, Amrawati Group said, “Navratri is an encouraging time for families to take the next step towards property ownership, but the decision should remain financially sound. Buyers must compare locations, verify approvals and assess whether the property fits their current needs and future plans. Higher borrowing costs make affordability an essential consideration. We expect demand to be strongest among buyers who have prepared their finances and are looking for genuine long-term value rather than short-term price movements.”
Navratri may provide the emotional impetus to purchase a home, but sustainable real estate investment depends on affordability, documentation and long-term demand. The RBI’s 25-basis-point repo-rate increase to 5.50% is a reminder that borrowing costs can change and that buyers should test their budgets against potential repayment pressures. GST also deserves attention: under the prevailing residential framework, eligible under-construction homes generally attract 1% GST for affordable housing and 5% for other residential apartments, without input tax credit; qualifying completed properties sold after a completion certificate are generally outside GST. Buyers should confirm the applicable treatment for their transaction. Ultimately, festive sentiment can open the door—but financial discipline and due diligence should determine whether buyers walk through it.