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NAREDCO Maharashtra is gearing up for the second edition of the HOMETHON Property Expo 2023, India's largest real estate event at the JIO World Convention Centre, Bandra-Kurla Complex (BKC), Mumbai, from November 24 to 26, 2023. Following the remarkable success of last year's inaugural expo, this edition boasts an even greater developer presence. The three-day event is slated to bring together 150+ developers showcasing over 500 top notch projects from Maharashtra's leading developers. Home buyers will get to choose from an array of properties across segments; be it affordable or luxury housing with property prices on offer will range from Rs 20 lakhs to 15 crores. These include properties from across Mumbai and MMR as well as Thane, Kalyan, Navi Mumbai, Panvel, Raigad, Mira Road, Vasai, Virar etc. In addition, properties from Pune, Nashik and Nagpur along with second home projects and plotted schemes will also be on display. The inaugural HOMETHON Expo held last year received phenomenal success with as many as over 45,000 quality walk-ins visiting the expo. HOMETHON 2022 provided over 500 leads to each participating exhibitor. A total of over 100 units were sold and the revenue generated from the sales post the exhibition is to the tune of over 1000 crores. This year’s expo anticipates an even larger developer presence along with larger walk-ins. Prominent developers who are slated to participate in this event include Hiranandani Group, Godrej Properties, K Raheja Corp, Piramal Realty, L&T Realty, Birla Real Estate, Shapoorji Pallonji, Adani, Runwal Group, Tata Housing, Prescon, Raunak Group, The Wadhwa Group, Chandak Group, Ekta World, Kanakia, Arkade, Dynamix, Transcon, and many others. Leading housing finance companies look forward to generate substantial revenue from this 3-day property expo with attractive home loan offers for the home buyers. Housing Finance Companies like State Bank of India, ICICI Bank, Central Bank of India, HDFC Bank and Aditya Birla Housing Finance, among others, will be present at the event to help facilitate home loans. Developers are also offering incentives such as no stamp duty, no registration charges, no GST, no processing fees, spot benefits, and other festive offers. Shri G.S. Rana, Chief General Manager, SBI Mumbai Metro said that SBI, the largest Home Loan player in India, will leverage the influence of an event like HOMETHON by offering on the spot approvals to potential home buyers at the most competitive interest rates and lowest to nil processing fees through their ongoing campaign ‘Festive Delights’. The share of residential housing loans in total advances has increased over the last eleven years to 14.2% in March 2023 from 8.6% in March 2012, as per the Reserve Bank's latest Financial Stability Report (FSR). The RBI report also mentions the housing sector is witnessing a healthy growth with sales growing by 21.6% in the fourth quarter (January-March) of 2022-23. In addition to rising sales, new launches also maintained healthy growth, reflecting strength in demand by end-users. Mr. Sandeep Runwal, President, NAREDCO Maharashtra, says that the sales numbers in the past few months have been robust. The timing of this property exhibition, just a week after Diwali, is considered very appropriate as home buyer sentiments will be at an all-time high; further driving housing demand. NAREDCO expects the housing finance companies to generate a revenue of over Rs. 1000 crore through this expo.
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