Maharashtra Chambers of Housing Industry (MCHI) arranged a property exhibition at Bandra Kurla Complex, which was attended by more than 45,000 people.
Maharashtra Chambers of Housing Industry (MCHI) arranged a property exhibition at Bandra Kurla Complex, which was attended by more than 45,000 people.
They visited various developer property stalls at BKC, and felt that while the developers showcased properties for luxury and super luxury sections, hardly anything was displayed for the common man.
“I liked a couple of properties in Thane and Navi Mumbai localities, but the prices the builders are quoting are worrisome,” said Rajesh Malde, resident of Matunga who is looking for a bigger house.
An Andheri resident Sanjay Bhandhari decided to leave the exhibition without selecting any property due to the high rates. “I am surprised to seeing the rates the developers are quoting. There is an urgent need of 25 to 30% correction in the market. All exorbitant rates are inflated by creating artificial demand,” he said.
Pankaj Kapoor, Managing Director of a real estate research agency, feels that actual buyers should wait for the correction. “The market is beyond the capacity of the common man.
The affordable housing concept is missing in an exhibition; most of the houses are displayed for high-end users,” he said. J S Augustine, associate director at Everest Developers, was happy to see the overwhelming response from people to the exhibition. Besides the on line registration, in the last three days, around 45,000 people have been visited to various developers’ stalls.
“It shows that there is huge demand of houses in city. Actual buyers are turning up here. So, there is no question of slashing the house prices. Even, the disbursement of bank loan amount is also satisfactory level. It is the right time to buy the property, in the future the rate may go up,” he clarified. He said that every component cost in real estate sector has gone up.
“The construction cost, labour cost, plan passing fees, and land cost have gone up in manifold. At this exhibition, people can choose the property and select the bank for loan. After six months, they will realise that they had taken the right decision,” Augustine added.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}