Premium realty exhibition for non-resident Indians, the Indian Property Show, raised its curtain today in the presence of Bollywood celebrity Arbaaz Khan, Chief Guest H. E. Butti Saeed Al Ghandi, Second Vice-Chairman of the Dubai World Trade Centre, and the Indian real-estate fraternity. The three-day extravaganza is playing host to top developers across India with thousands of various properties on offer.Attendees will have the luxury to choose from among hundreds of projects ranging from apartments, villas, row houses, plots, commercial to retail properties to suit their budget, besides benefiting from a number of educative and informative property-related seminars.
The event is being held at Hall 2, Dubai World Trade Centre, and is open to visitors from 11am to 8pm on all three days, with provision for free parking. Now in its 19th edition, the real-estate show is organised by Sumansa Exhibitions.
“For NRIs residing in the UAE, the Indian Property Show is more than just a real-estate exhibition,”said R. Srividya, General Manager – Corporate Sales & Brand Engagement, Indian Property Show at Sumansa Exhibitions, “It is a perfect opportunity to touch base with the latest happenings and updates on the real-estate front back home– particularly now that we are witnessing several important measures that have impacted the realty industry directly and indirectly.
“For NRIs, these changes herald good omen since many builders are already adopting 100 percent transparency policy and cheque payments, which obviously boosts the trust level between the two parties. The implementation of RERA rules, have also been instrumental in bringing professionalism, standardization and transparency in real estate sector. This, along with the recent wave of demonetization has helped the Indian realty industry emerge more transparent and buyer-friendly. Moreover, since demonetization has increased liquidity with the banks, there’s now lesser dependence on banks on high cost borrowings. Coupled with high deposit growth, weak credit growth and weakened rupee, this would create opportunities for lending rate cuts, allowing investment activities to pick-up especially in the mortgage driven real estate sector,” added R. Srividya.
Despite initial hiccups, experts foresee an uplift of the real-estate sector in the long-term as a result of these corrective measures. Consumer sentiment has already improved over the last year, and reputed developers are reporting higher transactions. With RERA Bill in place in particular, NRI consumers will no longer have to deal with delayed possession, fluctuating prices and diversion of funds towards other projects – to name a few – instilling confidence in the Indian developers and the country’s real-estate sector.
“The direct and most significant benefit of demonetization is increased liquidity across the banks. Such availability of funds will lead to lowering the rate of interest across different loans which will in turn reduce EMI giving a boost to real-estate demand. We expect home loan rates to be down to approx. 7-8%”, commented Mr. Dharmesh Shah, Vice President –Head Residential Sales & Marketing, Adani Realty.
“By bringing greater compliance, RERA will help making real estate class more efficient, transparent & healthy than any other asset class, so best time to buy real estate is now”, further added Shah.
Ashwinder Raj Singh, Chief Executive Officer – Residential Services, JLL India added: “The passing of RERA (Real Estate Regulation and Development Act 2016), the Benami Transactions Act and the demonetization move will ensure the sector loses much of its historic taint. Only players who conduct their business with integrity are expected to survive. This bodes well for end-users, who will be aware of their rights and have the assurance of not being cheated. They will be able to buy properties of their choice at affordable prices, in projects which will undoubtedly be delivered on time”.
Traditionally, the Indian Property Show conducts several property-related seminars to guide buyers on various aspects of property purchase. Keeping in view the confusion surrounding demonetization, this year’s event will host exclusive seminars on the issue to discuss impact of demonetization on Indian real-estate sector, the effect on market value of property, and due diligence measures for NRI investments. Other topics cover advice on legal processes involved in buying property, Vaastu’s role in property purchase and interior designing, RERA and taxation, focus on various cities, an NRI guide to property investment in India and hotspots in South India’s residential real estate.
Visitors will have access to variety of properties across India including key cities such as Delhi, Noida, Greater Noida, Gurgaon, Jaipur, Kolkata, Goa, Ahmedabad, Mumbai, Navi Mumbai, Pune, Chennai, Coimbatore, Hyderabad, Bengaluru, Mangalore and Kochi. In line with the latest advancements in the architectural world, the properties boast of the high-end amenities and excellent infrastructure including features such as eco-friendly housing, water recycling units, waste segregation etc.
Attendees will also have the opportunity for an exclusive face-to-face interaction with prominent developers including the likes of Wadhwa Group, Godrej Properties, J. P. Infra, Mantri Developer Pvt. Ltd, Mahindra LifeSpaces, Tridentia, Ozone Urbana Infra Developers, Acron, Piramal Developers, Prime Expat Infra, Salarpuria Sattva, Isha Homes, Shakti Construction, South India Shelters, Sobha Developers, Shankar Adobes, Vatika Group & Shree Ram Group amongst many others.
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