Crores in turnover from gold to wedding shopping despite inflation

Lokmat News Network

Chhatrapati Sambhajinagar:

From booking their dream flats to purchasing new four-wheelers, two-wheelers and jewellery, citizens made the most of the auspicious occasion of Akshaya Tritiya. Considered one of the highly auspicious muhurats, the festival witnessed transactions worth crores throughout the day. With the added advantage of a Sunday holiday, many also purchased wedding trousseau, leading to heavy crowds in markets.

Buying enthusiasm continues despite inflation

The tradition of buying gold on Akshaya Tritiya remained strong despite rising prices. Gold was priced at Rs 1,55,000 per 10 grams, compared to Rs 96,700 last year. Around 10 kg of gold was sold in the city in a single day, generating a turnover of nearly Rs 15 crore, according to Rajendra Mandalik of the jewellers’ association.

3,000 mobile handsets sold

Compared to Gudi Padwa, mobile sales are usually lower on Akshaya Tritiya. Around 3,000 handsets were sold during the day, with higher demand for smartphones featuring cameras above 50 megapixels. The segment recorded a turnover of Rs 4–5 crore, said Dnyaneshwar Kherde of the mobile dealers’ association.

Weather fluctuations hit AC and cooler sales

Frequent changes in weather from temperatures crossing 40°C to cloudy conditions affected the sale of air conditioners and coolers. Around 200 ACs, 400 coolers and 250 refrigerators were sold, generating a total turnover of about Rs 5 crore in the electronics and electrical market, said distributor Pankaj Agrawal.

350 new cars hit the roads

Certain car models currently have waiting periods of one to two months, while others are delivered within 10–15 days of booking. On Sunday, around 350 new cars were delivered in the city, resulting in a turnover of nearly Rs 40 crore. About half of these were CNG vehicles, while EVs accounted for 10%, said distributor Rahul Pagaria.

700 two-wheelers sold; demand for EVs rises

While nearly 1,500 two-wheelers were sold during Gudi Padwa, sales are typically lower on Akshaya Tritiya. Around 700 two-wheelers were sold during the day, with EVs accounting for 10% of the total. The segment saw a turnover of approximately Rs 10 crore, according to distributor Hemant Khinvasara.

225 homes booked ahead of expected price rise

With construction material costs rising, housing prices are expected to increase by up to 20% in the near future. Ahead of this, 225 homes were booked on the occasion of Akshaya Tritiya, while around 200 people performed housewarming ceremonies. The real estate sector recorded an estimated turnover of Rs 200 crore, said Sangram Patare, president of the CREDAI branch.

Heavy rush for wedding shopping

With the ongoing wedding season and the coincidence of Akshaya Tritiya and a Sunday, people from rural areas also flocked to the city for wedding shopping. The segment recorded a turnover of about Rs 25 crore, said trader Ajay Talreja.