Festivals in India have always been more than cultural celebrations; they are moments when families take life-defining decisions. Among these, buying a home remains one of the most aspirational. Developers, fully attuned to this sentiment, align launches, discounts, and special schemes with the festive calendar, hoping to convert fence-sitters into buyers. But do these campaigns work better for the mid-market housing segment or in luxury real estate?
Industry experts and stakeholders suggest that while festive campaigns provide a powerful demand boost across segments, the underlying factors of influence differ significantly. For mid-housing buyers, affordability incentives and auspicious timing often trigger transactions. In contrast, for luxury segment buyers, exclusivity, experiences, and lifestyle positioning carry far more weight than discounts.
Mid-Market: Affordability, Emotion, and the ‘Final Push’
For mid-market housing, festive campaigns consistently deliver stronger traction. These buyers are typically value-conscious and highly responsive to schemes that reduce immediate financial outflows. Limited-period discounts, waivers of charges, or flexible payment plans often serve as the nudge required to finalise a purchase.
“Festive campaigns typically see the strongest traction in the mid-housing segment, where limited-period discounts, attractive schemes, and value additions from developers can nudge fence-sitters waiting for the right time to buy,” says Shalin Raina, MD – Residential Services, Cushman & Wakefield.
Santhosh Kumar, Vice Chairman, Anarock Group, echoes this, “Festive campaigns do work in the affordable and mid-segments. With housing sales witnessing a drop in the first half of 2025 as compared to the same period last year, we will see various offers and schemes to attract buyers in the upcoming festive season.”
The emotional dimension also cannot be ignored. Festivals are seen as auspicious for new beginnings, giving buyers both cultural and psychological confidence to commit. As Dr. Rakesh Setia, President of Sales & Marketing, Rustomjee Group, observes, “The festive season has always been a strong driver of housing demand in India, particularly among families buying for self-use or seeking a lifestyle upgrade. The sentiment of new beginnings, coupled with festive offers, gives them the confidence to take quicker decisions.”
Adding perspective, Kishan Govindaraju, Executive Director, Vaishnavi Group, highlights how festive sentiment cuts across categories, “Indian housing demand is closely linked to festivals across the country as these are considered auspicious periods by homebuyers to finalise home purchase. Developers, on their part, have a nuanced understanding of this trend and offer attractive financing options and freebies during the festive season in partnership with banks and retailers to make it more rewarding for homebuyers.”
Examples abound across markets. From waived stamp duty to ‘buy now, pay later’ schemes, developers are aggressively tailoring campaigns for mid-market families. Mahesh Agarwal, MD, Purti Realty, sums it up, “Engaging the mid-market buyer through festive campaigns is more effective than in luxury housing.”
South India’s Lens: Consistent Absorption and Customer Connection
A regional lens adds further nuance. Karishmah Siingh, President – Sales, Marketing & CRM, Sattva Group, highlights that South India’s residential market sets the benchmark for sustained demand, driven by its tech economy and end-user focus. “For us at Sattva, festive campaigns are about customer connection — occasions to celebrate relationships and engage with buyers while striving to surpass their aspirations,” she shares.
Luxury Housing: Exclusivity, Lifestyle, and Brand Perception
If mid-market buyers respond to discounts and affordability mechanisms, luxury buyers operate differently. High-net-worth individuals (HNIs) are less price-sensitive and focus instead on factors such as location, exclusivity, lifestyle amenities, and long-term value. For them, festive campaigns function as engagement tools rather than discount-driven triggers.
“Luxury housing buyers are less motivated by discounts and more by experiences that reinforce exclusivity and lifestyle,” adds Dr. Setia. His company has witnessed this first-hand: families choosing integrated townships value structured payment schemes, while South Mumbai buyers respond better to curated previews and the sense of community.
Ayushi Ashar, Director, Ashar Group, makes a similar point, “In the luxury housing segment, festive campaigns have a more nuanced impact. HNI buyers are less influenced by discounts or freebies. However, festive campaigns can still be effective if positioned around exclusivity such as unveiling a limited collection of residences, hosting curated events, or offering bespoke customisations.”
For Santosh Agarwal, CFO & Executive Director, Alpha Corp, festivals have become pivotal in driving luxury engagement post-pandemic. “More than the discounts, today’s affluent buyers are drawn to experiences that highlight exclusivity, aspiration, and lifestyle. Festive campaigns provide the perfect context to accelerate those decisions,” states Agarwal.
This view is reinforced by Manju Yagnik, Vice Chairperson, Nahar Group, who perceives that while festive demand in the mid-market contributes as much as 20–25% of annual sales, luxury housing benefits through fewer but far higher-value transactions that uplift toplines significantly.
Emotional Triggers vs. Aspirational Catalysts
Despite differences, both segments share one common ground: the festive calendar creates urgency and optimism. For mid-market buyers, this urgency translates into volumes, while for luxury buyers it fast-tracks decisions already in consideration. “Festive campaigns usually bring a buzz to the housing market, though their impact isn’t the same across all segments,” says Rajat Khandelwal, Group CEO, Tribeca Developers. “In luxury housing, discounts are rarely the driver. What the festive season does well is create positive sentiment — more serious buyers start exploring options.”
Sarveshaa SB, CMD, BHADRA Group, emphasises that trust and authenticity matter across the board. “In the luxury segment, these campaigns succeed when they offer real value — such as bespoke features or customised service. For us, it is all about building trust and creating memorable experiences,” avers Sarveshaa.
Even in regional markets like Indore, the pattern holds true. Manoj Dhanotiya, CEO, Micro Mitti, highlights that festive campaigns lifted real estate sales by nearly 20% in 2024. While mid-market buyers responded strongly to affordability-linked offers, luxury sales soared 37.8% driven by brand trust and exclusivity.
D. Kishore Reddy, CMD, Mana Projects, observes that festivals drive demand across both segments. “In luxury housing, affluent buyers tend to buy property during auspicious times due to increased purchasing power and the emotional desire for self-indulgence. Mid-market segments also see spikes in sales, primarily driven by faith and cost-conscious buyers attracted with affordability and flexible financing,” says Reddy.
Developers’ Playbook: Tailoring Campaigns to Segments
Developers are increasingly aware that a one-size-fits-all festive campaign does not work. For mid-housing buyers, financial comfort is key — discounts, flexible EMIs, or waived charges. For luxury buyers, curated previews, exclusive events, and lifestyle-driven storytelling resonate more deeply. “Festive campaigns accelerate sales in the mid-segment by tapping into family aspirations and auspicious timing, while they nurture brand perception in luxury by wrapping the festival in exclusivity and poetic emotion,” explains Janardhan Kompally, Chairman, Makuta Developers.
Rakesh Reddy, Director, Aparna Constructions, puts it succinctly, “For mid-segment buyers, festive campaigns serve as affordability accelerators that produce immediate activity. For luxury buyers, they function more as conversion catalysts, nudging already interested prospects by reinforcing trust, exclusivity, and lifestyle positioning.”
Adding another perspective, Rajesh Damani, Jt. MD, Jamshri Realty Ltd., underlines the dual role festive campaigns play. “In the mid-market, festive campaigns tend to work as strong demand accelerators. In luxury housing, by contrast, they play a symbolic rather than transactional role. They reinforce brand equity, highlight cultural alignment, and create memorable experiences for prospective buyers,” says Damani.
Conclusion
The festive season continues to be the most influential period for Indian housing demand. However, the drivers of influence differ across segments:
Mid-market housing: Volume-driven, highly responsive to discounts, flexible financing, and auspicious timing. Campaigns act as direct triggers for conversions.
Luxury housing: Value-driven, motivated by exclusivity, lifestyle, and brand equity. Campaigns act as engagement and brand-building tools, nudging buyers already in the consideration stage.
As Vineet Dawar, President – Sales & Strategy, Elan Group, aptly concludes, “A thoughtful festive strategy must embrace these nuances, creating experiences that resonate across segments while upholding the exclusivity and trust that define luxury.”
In essence, festive campaigns are not an either/or story between luxury and mid-market housing. They are effective across both, but in very different ways — driving sales volumes in the mid-market and reinforcing aspiration and exclusivity in luxury real estate. For developers, the lesson is clear: success lies in segment-specific strategies that marry cultural optimism with what truly drives the homebuyer’s decision.
