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Festive Fervour - Navaratra rings in sales for jewellers, realtors

Times of India - 29 September, 2014

Times of India - Pg. 4

Festive Fervour - Navaratra rings in sales for jewellers, realtors

Tarini Puri, Pune:

Dasara is still a few days away, but Rupa Adgaonkar has already bought the jewellery she wishes to flaunt. The mood among city’s jewellers and developers too is upbeat.

Builders are busy launching multiple projects in and around the city while jewellers have come out with new designs and trendy collections, keeping an eye not only on the festivities but also on the wedding season ahead.

With both gold and silver down to their lowest rates in almost 15 months, retailers are looking forward to cash in on buyers’ euphoria.

Vastupal Ranka, director of achain of jewellery stores in the city, said, “The mood this year is definitely positive. A stable government at the Centre and the fall in prices have changed the market sentiment. This is the ideal time to invest in jewellery.

That is the reason why people are purchasing pure gold. Crystal, stone, Polki and enamel animal motif jewellery are in de mand this year, so are lightweight diamond ornaments.” Asmita Javdekar, city-based proprietor of an online jewellery store, has her hands full. Javdekar said her website she has been deluged by a large number of orders. “In the last few days, we have received orders for heavy jewellery too.Kundan, pearl and silver-based jewellery are in demand,“ Javdekar said.

Rupa Adgaonkar, who has invested in a fusion design, said, “The so-called market slowdown has hardly had any effect on buyers. Our family invests in gold on Dasara every year and this time I have bought a traditional jewellery set with a western touch.” The real-estate sector is hopeful of a turnaround. Rohit Gera, vice-president of CREDAI Pune-Metro said, “Almost twothirds of all projects are launched during this period.

This year, there has been an increase in the number of enquiries. People who have been sitting on the fence are now looking to invest. Banks too are offering fixed-rate mortgages which is definitely a positive sign.” Hemant Naiknavare, president of CREDAI Pune-Metro, however, put the onus on the Centre and its policies for sustaining the optimism. “Festivals lift your mood. But there are a lot of expectations from the government as well. Parliamentary and now state elections have delayed a lot of clearances, including environmental, besides putting financial strain on the market,” Naiknavare said.

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