Friday 22 April 2016

The Rise of the Home Buyers



The MCHI-CREDAI's 26th Property Exhibition 2016 came to a grand close with many potential home-buyers sealing the deal

Behind the dark plastic exterior of the exhibi tion hall, looming over MMRDA grounds at Bandra-Kurla complex, a motley crew of real estate majors got together between April 7 and 10 to make their presence felt, behind the well-organised stalls, pulling in a number of enthusiastic buyers.Many of the owners represented a cross-section of Mumbai's real estate honchos who got together to discuss real estate and meet prospective buyers. Several financers offered spot loan sanctions and freebies, among others too. The theme for MCHI-CREDAI Property exhibition 2016, `Buy Now', encouraged the property buyers to scout for opportunities and push the buying button on the occasion of Gudi Padwa.

The expo saw 100 plus developers and over 57,000 home-buyers, interacting with each other through a common platform. The developers who participated in the exhibition generated a total on-the-spot business of Rs 246 crore and a perspective business of Rs 875 crore. Banks who participated recorded a pre-sanction of Rs 270 crore.

Builders, developers and customers gleefully acknowledged the good responses and walk-ins during the four-day long event.Mukesh Makwana from the Makwana Group, said, “We have witnessed a large num ber of walk-ins to our stall and expect some of those to convert into home-buyers. We generated sales on Gudi Padwa and we believe that customers like offersfreebies on special occasions. Customers prefer a competitive pricing bracket for a good apartment over anything else.“

All the concerns for a more transparent real estate sector and high property prices were all deviated by the response from the customers. Vinay Mishra from Proviso Builders and Developers, expressed his satisfaction over good walkins he received to his stall.“We have tied-up with prominent banks for offering low initial finance, which will help home-buyers greatly. It is a subvention scheme where we will be paying interest till the time the regular EMI starts,“ says Mishra. Tejas Vyas, chairman, exhibition committee, MCHICREDAI, feels, “Enthusiastic participation by developers, banks, HFCs and other service providers made the expo an ideal destination for all property seekers in Mumbai.Crowds thronged the venue with the dream of owning a house amidst a host of properties being showcased there. A majority of them was serious who were able to spot the properties of their choice at the expo and even leveraged on the attractive offers.“

“Home-buyers were particularly happy with banks and HFC stalls where the executives explained in a very simple and organised manner about various home loan schemes that are available in the current market. Indeed, good times are ahead for the real estate sector and signs are visible of the same with the response being generated at the expo,“ adds Vyas.

Buyers too expressed their satisfaction over the event. “I am looking for a one-BHK budget-apartment between Goregaon and Borivali. I found the MCHI-CREDAI Expo to be really good. Here, everything is available under one roof like a wide range of properties all across Mumbai, good information about the area and property and many banks who ex plained all their schemes in detail,“ says Kalpana Korgaonkar, a buyer.

Despite the cool, dark interior, everything seemed transparent at the venue.There was no unnecessary prodding or probing anywhere. And you were unlikely to sense any kind of anxiety or concerns among the lot there.

It seemed to be a really calm and organised affair.“Even in tough times, if we keep our cool and invite in really enthusiastic, positive people, that makes all the difference,“ says Ariana Sen, a city-based architect who visited the venue over the weekend.


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