Inflation hits market on Dussehra day

Inflation hits market on Dussehra day

Be it Diwali or Dussehra, people wait for such auspicious festivals to buy house or gold ornaments. However, this Dussehra, despite the schemes and attractive offers, sellers saw no surge in buying.

Gold Market
On the occasion of Dussehra, one thing people buy is gold. However, this year, despite various schemes, people did not buy gold ornaments.

Since morning, sales are moderate and we did not see much rush as well. Today, the gold rate is INR 29,000 and so many are preferring coins. Also, people are not buying gold more than INR 50,000 as above the said amount, GST charge adds up," Dhaval Kamble, Lagu Bandhu Jewellers.

No Vehicle buying
A lot of people book new vehicles on the occasion of Dussehra, but this year, there were fewer bookings.

In comparison with last year, this year, bookings have gone down. We are giving offers also to lure people, still, there was less response," Ravish, Manager, Hyundai Motors.

No residential purchase
Though buying a house in Mumbai is every Mumbaikar’s dream, this Dussehra, people have turned down the idea due to the rising prices of real estate.

We received very few bookings in comparison to last year. Many of our projects are ready yet there is no buyer. Many of them prefer buying a house in Mumbai suburbs,” Anand Gupta, President, Builders’ Association.

Electronics did not suffer
Though people are not buying gold, houses or vehicles, they are definitely buying electronic goods.

We received a good response as people bought LED TVs, washing machines, fridge in large numbers. Otherwise, people only buy mobile phones on Dussehra. We are happy with the response," Nitin Pandya, Manager, Vijay Sales.

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