Thursday, 21 January 2016

Bhiwandi Emerges As Preferred Property Destination




The exhibition which received an overwhelming response from visitors was exciting for the developers for two reasons.

The 15th Maharashtra Chamber of Housing Industry (MCHI) property exhibition which concluded on Monday saw a sale of 200 flats and a footfall of more than 50,000.

The exhibition which received an overwhelming response from visitors was exciting for the developers for two reasons. Bhiwandi emerged as a new property choice for potential buyers and Ghodbunder Road led the pack with 200 flats being sold from GB road.

Jitendra Mehta, chairman exhibition, MCHI-CREDAI, Thane shares "Exhibition has started on a very positive note and this time a lot of serious buyers have turned up. With 300 plus projects, buyers had a range of choice."

"While GB road remains a choice for elite property seekers, Kalyan Phata near Bhiwandi is getting a good response and the conversion rate is also good," adds Mehta.

With Thane being tagged as a Smart City, the entire face of the city has changed and various development projects have only added to the advantages of the city. The three days of exhibition saw maximum rush outside stalls exhibiting properties in Bhiwandi.

Talking about the increased inquiries, the developer said, "Kalyan Phata is developing faster and other than affordable rates, the place has a very good connectivity. People having their own vehicle can easily commute from Thane within half an hour as it very well connected through road other than the train."

Abhijeet Ragji, a local who is planning to book a 2 BHK flat said " Ghodbunder Road flats are now out of reach as they are touching a crore and more but while I inquired about Bhiwandi they are really affordable and are available at a cost ranging between Rs. 2700 to 4100 per square feet and flats could be purchased at a cost of Rs. 40-45 lakhs."

"Kalyan Phata is a good option as flats are available at affordable rates and there is not much difference between Thane and new Bhiwandi," said Vishal Gajare, a potential buyer.

Ghodbunder road has become an elite choice with the kind of property rates available while Bhiwandi has emerged as a new affordable property destination in the city.

With the kind of response at the property exhibition, it seems that good days for real estate developers are back and exhibitors feel that they would get more conversions in coming months.

To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org


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