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Indian property developers expect to generate business worth $54 million during the three-day exhibition scheduled from June 21-23 here, organisers have said.
They are looking for higher investments from expatriates after the sharp slide of the rupee against the US dollar and the dirham. The 10th edition of the show will have over 70 developers displaying over 300 projects from across India and is expecting a footfall of 15,000 interested buyers.
The Indian Property Show will feature properties ranging from Rs 8 lakhs to Rs 9 crores and more while exhibiting diverse offerings of various developers from budget to luxury properties, organisers Sumansa Exhibitions said.
The show will have participants such as Mantri Developers, Nirmal Lifestyle, Hiranandani, Ansal API, Ireo Pvt Ltd, Amrapali, Brigade Group plus Investors Clinic, Assetz Homes and Sobha Developers Ltd. Leading banks have also confirmed their participation.
Sumansa Exhibitions CEO, Mr Sunil Jaiswal, said the magnitude of the exhibition has grown this year and the focus has shifted to affordable properties as the Union Budget has allowed external commercial borrowings which will allow the builder liquidity.
“The homes are expected to be affordable, on the outskirts of the tier-1 cities. At the same time, property prices in the metros and tier-1 cities are expected to go up due to the additional burden of service tax and excise duty,” he said.
With the recent reduction in interest rates, home loans will be cheaper and the depreciated rupee will tilt the balance in favour of NRIs, Mr Jaiswal said.
“The momentum of Indian property will be kept up by NRIs, for whom the current scenario is conducive as far as investment in the tier-2 and 3 cities are concerned,” he said.
Mr Honey Katiyal of Investors Clinic, one of the prime exhibitors and sponsors of the show, said the Indian Property Show has been a spring board for the company to establish its presence in the UAE.
“In just six months of operation, we have witnessed a 20 per cent increase in demand for Indian properties and have interacted with more than 1,000 NRI families. With the rupee depreciating, we expect a lot of queries to be converted into actual sales, especially in Delhi-NCR, Mumbai and Bangalore,” Mr Katiyal said.
This year the seminars at the show aim to guide buyers on the real estate markets within India along with the benefits of investing now. Some of the cities in focus are Mumbai, Pune, Bangalore, Chennai, Gurgaon, Noida and Kochi.
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