The NCR based renowned developer Migsun announced an extraordinary sale of over 500 units which estimated over Rs 252 Crores, whilst the lockdown period between March 25th and 3rd June. The units deemed for a complete profitable area of 7 Lakh sq. ft., which the Company has charged at an average price of Rs 3600 per sq ft.
In terms of per-unit achievement, Migsun has sold 500 units at an average price of roughly, Rs 50 lakh approximately. The Company has also booked 10,000 sq. ft. of commercial contributions valued at Rs 15 crore at an ordinary realization of Rs 15,000 per sq. ft.
Most of Migsun’s sales have occurred at places in Greater Noida and Ghaziabad, in regions like Vasundhara, Kaushambi, Indirapuram, Vaishali and Rajnagar Extension. Migsun Ultimo, Migsun Wynne, Migsun Vilaasa, Migsun Roof, Migsun Atharva, Migsun MiGente and Migsun Estella are few of its exceptional projects that have earned a tremendous response from clients.
A total lockdown was declared in the country on March 25th this year, to protest the Covid 19 pandemic. As everyone was restrained to their homes, and couldn’t attend sites, a crowd of realtors turned to digital mode and adopted the option of online tours and video conferencing methods to help people buy the properties.
Migsun was proactive in its approach & was the first amongst several developers to advertise profitable lockdown offers for its clients. Starting from a minimal payment scheme to EMI moratorium, this helped the realty player to maintain not only its sales but also served more deals.
“With the outbreak of the coronavirus, it has set an abrupt halt to all our outside endeavours. We keenly understood the new adaptations & study the market to understand the needs & demands of the customers. On all the digital platforms, we have always been quite active and have focused continuously on sales created by online queries. So, lockdown surely has posed an obstacle to everyone, but our processes supported it”, says MD, Yash Miglani of Migsun.
“The first few days noticed closings of transactions where buyers had already made their enough applications & were in the last leg of closing the deal. Then, we launched virtual tours and EMI moratorium scheme as the Lockdown continued. Our motive was to expand our horizon and help people choose freely. During lockdown 3&4, most buyers who addressed us needed a better living in group housing projects. They also got the added advantages of adaptable payment plans. There was an upsurge amongst the users to own a home in a group housing project, as people were ready to see the positives of group housing during Lockdown. In the last several weeks, we have made bookings from people who had the liquidity but were low of ideas to invest,” added Yash.
Migsun, established in 1992 and since then has completed over 40 residential and commercial projects in Ghaziabad and Greater Noida. The realty group currently has over eight on-going projects. Migsun is a particular company involved in various enterprises in real estate development, hospitality and health care sector.
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