Markets see surge in consumer spending on Akshaya Tritiya

400 new homes, 1850 vehicles and gold worth crores sold on the auspicious occasion

Chhatrapati Sambhajinagar: The city witnessed a surge in consumer spending on the auspicious occasion of 'Akshaya Tritiya' Muhurat, which is one of the three and a half Muhurtas. The city residents celebrated this occasion by making new purchases, particularly in the housing and vehicle sectors. Traders estimated that the turnover in the market reached crores, making this a significant event for the business community.

The turnover is particularly important for businesses as it contributes to the overall yearly turnover. The first complete Muhurat of the year, Gudi Padwa, had already seen an enormous turnover in the city, and the second complete Muhurat, 'Akshaya Tritiya', saw even more excitement in shopping. This was due to the additional celebrations of Bhagwan Parashuram Janmotsav, Mahatma Basaveshwar Jayanti, and Ramzan Eid.

Although the buying slowed down during the afternoon due to the high temperature, the shopping spree picked up again in the evening. Sanjay Kankariya, president of the Zilla Vyapari Mahasangh, predicted that although the turnover during Akshaya Tritiya was less than that of Gudi Padwa, it was still a substantial amount, with an estimated turnover of around Rs 700 crores in the city.

Booking of 400 new houses

On the occasion of Akshaya Tritiya, 400 houses were booked in the city and 300 people entered their new home, said Vikas Chaudhary, president, Credai local branch.

1850 new vehicles on the road

In the vehicle market, although the turnover on Saturday was less than Gudi Padwa, around 350 cars and 1500 two-wheelers were sold. A total of 1850 such new vehicles hit the roads today, said Sachin Mule, four wheeler distributor.

Gold purchased even at high price

Around 15 days ago, the gold price had gone up to Rs 60,800 per 10 grams. But then the prices came down to Rs 60,500 on Friday. Despite Akshaya Tritiya on Saturday, the prices fell by another Rs 100. Gold was sold at Muhurta for Rs 60,400. In the evening, there was a huge rush of customers at the reputed showroom. Gold price on Akshaya Tritiya 2021 was Rs 47,676 and in 2022 it was Rs 50,808, said Girdhar Jalnawala, jeweller.