Bangalore Property

Bangalore: 106 flats worth Rs 65.33 crore were booked in The 12th India Realty Expo 2009 held in Dubai. Around 2,700 NRIs attended this three day-expo, held from June 4th to June 6th. "Around 86 flats worth Rs 80.18 crore are in the pipeline when the NRIs come down to India in July-August on their annual vacation. The softening of real estate prices and home loan interest in India were the key reasons that attracted a large number of NRIs during the expo," said Zubin Mehta, CEO, Maharashtra Chamber of Housing Industry (MCHI). MCHI is a leading body of real estate builders and developers in India.

15 Indian Developers and builders showcased their property in the exhibition. There were also few Home Finance Institutions like HDFC, DHFL and Bank of Baroda who attended the exhibition. "Majority of the walk-ins was Mumbai-specific and this reflected in an opportunity for the developers to close a few deals during the expo itself," said MCHI's Co-ordinator and Co-Chairman, International Exhibitions, J S Augustine. The expo took place in Dubai as soon as there were signs of an economic revival globally, he added.

Inaugurated by Partha Roy, the Consulate General of India, Dubai, the main intention of this exhibition was to provide a one-stop solution for all the needs of NRIs who want to purchase a property in India. "This encouraging response denotes the demand and popularity of housing in India by NRIs in the Middle-East," said Pravin Doshi, MCHI's President.

The 15 developers who participated in the 12th India Realty Expo 2009 were Ajmera Builders, Mayfair Group, Akar Creations, Better Homes, Everest Developers, Hiranandani Constructions, Marathon Group, Nahar Group, Nirmal Lifestyle, Nyati Group, Our Town, Pathy Housing, Pranjee Group, Rustomjee and Total Environment.