Developers offer innovative packages, flat discounts to lure home buyers at MCHI exhibition.
With real estate prices showing no signs of decreasing despite the slowdown in sales and developers refusing to budge on rates, now may just be the right time for buyers to take the plunge before prices shoot up.
A number of developers are rolling out special offers ahead of Diwali at the Maharashtra Chamber of Housing Industry’s (MCHI) on-going property exhibition at MMRDA grounds.
Free parking space, club membership offers, removing stamp duty-registration and maintenance charges are some of the steps developers are taking to ensure that this Diwali is a happy one for both parties.
The most lucrative offer continues to be a flat discount for spot bookings, with developers knocking off between Rs200 and Rs2,000 per square foot, amounting to a reduction of lakhs of rupees in house prices in the sub-Rs40 lakh category. “Individual developers are offering their best rates and buyers should make the most of it,” said Paras Gundecha, MCHI-CREDAI president, adding that buyers have realised that there is no scope for prices to come down and if they are serious about buying this is the right time to do it.
The grand scale of the MCHI exhibition which is on till Sunday, looks like a show of strength on the part of the city’s developers. More than 100 developers are showcasing over 15,000 properties. “The premium and affordable homes segment is doing very well. It is the middle segment where we were facing indecision,” said Boman Irani, secretary, MCHI-CREDAI.
Keeping with its efforts to bring in accountability in the realty sector, MCHI-CREDAI is implementing a code of conduct for the benefit of buyers. “We have endorsed a code of conduct for all our members to adhere to ethical business practices, ensuring buyers of a trustworthy deal,” said Bandish Ajmera, chairman, MCHI-CREDAI Exhibition Committee.
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