The Gujarat Institute of Housing and Estate Developers, a real estate body of developers in Gujarat, are likely to organise a property show in Mumbai on May 1.
What is unique about the property show is that it is likely to be held on May 1 — that is celebrated as Gujarat Diwas — in Maharashtra. Interestingly, the neighbouring state also celebrates the same day as Maharashtra Diwas. Around 100 developers from across the state are likely to participate in the GIHED property show in Mumbai. Of the total participants from the state around 60% are from the city.
A source close to the development said properties of all kinds will be on display but the focus will be on residential segment. Vice-president of GIHED, Rushabh Patel said "We thought of organising the show in Mumbai because, compared to other metros and mega cities, Gujarat's real estate market is doing better."
He also said that many Mumbaikars visit the state and many also have roots here. "Therefore, Mumbaikars are looking to invest in properties in Gujarat keeping in mind the returns on investment and future prospects," said Patel. "GIHED is planning to hold the two-day property show either in Bandrakurla complex or somewhere in Borivali," said a source. Confirming the news, secretary of GIHED, Dipak Patel said they are yet to finalise the venue.
"Our initial meeting for the same has taken place but nothing has been decided so far," said Patel.
The focus will be on investors because many Mumbaikars want to invest in real estate but cannot do so because of Mumbia's exorbitant prices.
"This show will offer them better prospects so that they can opt to invest in Ahmedabad, Surat or any other city in Gujarat," said Patel. A documentary about the city and the state will also be shown at the function.
It will talk about the state's infrastructure, growth and development apart from its realty market. DVDs of the same will also be distributed among the visitors.
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