NORTH-BOUND: Real estate industry, which has been suffering a slowdown is expecting a positive response
After a span of two years the apex real estate body is holding its property exhibition. The real estate industry that has been suffering a slowdown used to earlier hold a bi-annual exhibition, which came down to once a year and in 2018 there was no exhibition. However, this year between November 21-24 the property exhibition will be held in Mumbai.
It not only reflects developers have homes to sell, but also shows that the developers community has regained their confidence in the market and wish to sell their flats.
The exhibition is being organised by the apex real estate body in Mumbai Metropolitan Region, CREDAI-MCHI. The four-day long exhibition will have hundreds of stalls from developers showcasing several projects.
Rajesh Prajapati, a prominent developer and also associated with CREDAI-MCHI confirmed the same. Last exhibition was held in November 2017 at MMRDA grounds in Bandra (E). The venue shall be same this year too.
"Last year, as the new regulations had come in, there was also not much new properties available because of the dumping ground issue still not resolved, the exhibition wasn't held. However, this year we have decided to hold the exhibition and are hoping a good response," said Prajapati. Even developers have been offered discounts in stall prices.
After 2017, there has been no major property exhibition in the city. This year, the CREDAI-MCHI exhibition which has close to 120 stalls divided in three categories including affordable segment will be one of the first which will be held.
With rules and regulations, and especially with RERA in place, all projects that are under construction and will be showcased, such developers have been informed to have the MahaRERA registration number.
Any project that hasn't received an occupation or completion certificate and the developer of such project is carrying out sales needs to be registered with MahaRERA. There are expectations that individual developers who anyway are offering discounts and other freebies will be giving out discounts during the exhibition too.
CONFIDENT MOVE
- The exhibition not only reflects developers have homes to sell, but also shows that the community has regained their confidence in the market.
- The exhibition which has 120 stalls and is divided in 3 categories under affordable segment will be one of the first which will be held.
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