[KM] Keep_Mailing A tonne of gold will be sold today in Mumbai

A tonne of gold will be sold today in Mumbai

 

Jewellers and developers are hoping to make a killing today on the occasion of Akshay Tritiya.

Jewellery associations expect sales to touch a tonne as against the 400-450kg sold daily. Dinesh Jain, former director of gems and jewellery trade association and owner of PM Shah & Company, which has five jewellery shops in Mumbai, said there's no confusion and uncertainty over buying gold. "The market has been stable for almost a month now. We hope sales to be more than what it was last year on Akshay Tritiya (by at least 30%)," he said.

"Gold prices are lower than what it was two months back — almost Rs500 less. People will surely rush to buy gold. Each year on Akshay Tritiya, we sell about 450kg of gold. This year it will easily be a tonne or even more."

The property market too will buzz with activity with hundreds of people either buying or registering property on Monday on the occasion of Akshay Tritiya.

"We receive plenty of requests in advance (to buy/register property). This year too is no different.

Most buyers in May choose Akshay Tritiya to book or register property," Shailesh Puranik, managing director of Puranik Builders, said. "Bookings for the entire month happens on the Tritiya."

Since prices of gold and silver have been fluctuating lately, more people will invest in property, he said. "Property prices are going up every day. Buyers will get good returns on any given day. At least 1,500 property deals will be struck in the Mumbai Metropolitan Region on Monday.

Developers normally launch new projects on Tritiya to get maximum number of bookings."

Kailash Patil, a property broker from Thane, said buyers choose Akshay Tritiya to finalise deals. "I have five buyers who want to finalise a deal by paying a token sum," he said. "People believe a family will live in peace in a house bought on Tritiya."

Akshay Tritiya
It is considered as an auspicious occasion to buy gold and property.

People feel property bought on this day always fetches good returns.

And buying gold brings good fortune.

Jewellers expect to sell a tonne of gold today. Normally it is 400-450kg daily.

Developers expect to sell at least 1,500 properties — either booking or registration.

 

 

 

 

 

 

 

 

jckrsna
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Hiten A. Raja
Nairobi.
KENYA.
 
Hiten@HitenRaja.com

 

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