Realtors Hit Jackpot Selling Lottery Tickets For Homes
A common condition in all these lotteries is that winners must bear the cost of property registration
Nalgonda: With the slump in property sales, several owners have adopted a new trend, conducting lucky draws to sell their houses and plots, which often earns them more than traditional real estate sales.
A house owner from Choutuppal in Yadadri-Bhongir district earned more than the market price for his 66-square-yard house through a lottery priced at ₹500 per ticket, inspiring others to follow the same strategy.
Kacherla Ram Brahmam, the house owner, had displayed a ‘house for sale’ board for one and a half years without success. In September, he launched a lottery, selling 3,599 tickets at ₹500 each, collecting ₹17,99,500, about ₹3 lakh more than what realtors had offered.
Encouraged by this success, K. Ramesh from Nalgonda town also decided to conduct a lucky draw for his 147-square-yard house located behind the district education officer’s office. He fixed the coupon price at ₹999 and distributed brochures with a QR code for online payment. Ramesh plans to sell 3,000 coupons and hold the draw once all are sold.
Similarly, realtor Donthagani Gopi announced a lucky draw for his 200-square-yard open plot at Shiva Sai Nagar in Huzurnagar, Suryapet district. He fixed the coupon price at ₹2,500 and offered five consolation prizes, an electric scooter, refrigerator, sofa set, dining table set, and single cot bed.
A common condition in all these lotteries is that winners must bear the cost of property registration. The property documents will be handed over to winners on the same day as the draw.
