Builders offer great deals after note ban

In the wake of demonetization, developers from Navi Mumbai have started offering great deals on projects across the satellite city. The Builders Association of Navi Mumbai (BANM) is hosting its mega-property exhibition in Vashi next week — from December 9-12, where more than 100 member developers will lay out the red carpet to woo home buyers post-demonetisation.

“Though the talk about 30 per cent drop in prices is populist, participating developers will not only be offering their best rates, but also special offers on payment plans and interest rates to evince interest from genuine buyers looking for a good deal in these times,” said Devang Trivedi, outgoing president of BANM, adding that this may be a good time for genuine buyers to grab the deal before regulations like RERA kick in and dry up supplies, which in turn will lead to rise in property prices.

“Even after cash crunch in the market, real estate remains a preferred investment and given the huge gap between demand and supply, it will continue to earn good returns for investors for years to come,” said Trivedi.

Spread over a sprawling 12,500 square metres, the exhibition will have over 130 stalls, offering homes starting with an area of 300 square feet, and prices starting at Rs 12 lakh. “There will be many affordable home projects from the airport area of NAINA, which also have good potential for appreciation,” said Dharmendra Karia, President of CREDAI BANM, adding that the airport project alone will be a huge driver of the city’s real estate sector – and its economy – for years to come.

“Looking at the current scenario, home loan interest rates will come down sharply, which in turn will boost demand for properties,” said Haresh Chheda, Secretary of CREDAI BANM.