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CREDAI-MCHI, the apex body of the real estate industry of the Mumbai Metropolitan Region (MMR) is conducting the 31st edition of India's Largest Property Expo. The 3-day event is to be held at the Jio World Convention Centre, Gate No. 20, BKC, from January 26th to 28th, 2024. This year, the Expo has picked up the theme "Zero is our Hero," highlighting the initiative of zero registration fees and zero stamp duty on home purchases.
With over 1000 properties showcased by 100+ developers and 25+ home loan options, the expo promises to be a game-changer. HDFC Bank Home Loan and SBI Bank have come on board as partners making it a collaborative effort to make homeownership more accessible and affordable.
The expo will be inaugurated by the Hon'ble Chief Minister of Maharashtra, Shri Eknath Shinde. Furthermore, Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister of Maharashtra will be attending the event on January 27, followed by Shri Ajit Pawar, Hon'ble Deputy Chief Minister of Maharashtra, on January 28.
Mr. Domnic Romell, President of CREDAI-MCHI, said that the real estate industry is experiencing great times, especially in the MMR. He expressed that the presence of political dignitaries at the inauguration of the expo reflects the importance of the industry in the overall economic growth of the state.
CREDAI-MCHI has been spearheading many initiatives to benefit the homebuyers, developers as well as the state. This is highlighted in the theme of the expo for this year, "Zero is our Hero". The stamp duty charges in Mumbai are 6% on the property value and 7% in the rest of Maharashtra. Developers have decided to absorb these charges, and this will result in substantial savings for the customer. This underscores the dedication of CREDAI-MCHI towards enhancing the accessibility and affordability of homeownership. Additionally, CREDAI-MCHI is providing an extra 0.25% commission to channel partners for each confirmed booking as part of their Super CP 2024 scheme.
CREDAI National president and Rustomjee Group's Managing Director Boman Irani said "The developers are not looking at price appreciation in this exhibition. We are looking at driving volumes through this expo."
Mr. Nikunj Sanghavi, Convener of the Exhibition, says that the 31st edition of the expo would be very special not only to developers and banking partners but also to the home buyers and channel partners by offering an exciting range of offers during the three days. The Expo offers an exclusive chance for potential homebuyers to discover an extensive array of properties and interesting financing options, all conveniently available under one roof.
Sanghavi said 500 plus residential projects by over 75 developers from MMR will be showcased at the Expo. Over 100 commercial properties and more than 50 projects of plotted developments and vacation homes will also be featured. Sanghavi said the previous edition of the expo had resulted in sales of 150 units from 65 developers, and this year, they expect sales of 300-400 units, and 25,000 to 30,000 footfalls.
The Expo will feature prominent developers such as Piramal Realty, Adani Realty, Raymond Realty, Dosti Realty, Rustomjee Group, Ajmera Realty & Infra India, L&T, Veena Developers, Ashar Group, Jangid Group, Raghav Raj Builder and Developers, Puneet Group, Runwal Real Estate Pvt. Ltd., Atul Project, and UK Realty. Financial institutions such as HDFC, SBI, KANAI INFRA LLP, Tata Capital, Bank of Baroda, L&T Finance, ICICI Bank, LIC HFL, Axis Bank, Bank of Maharashtra, Bank of India, and Hinduja Housing Finance, among others, will also participate in the expo.
Atul Rathi, Deputy Manager, Real Estate and Housing Business Unit, State Bank of India, announced that they would also offer reduced and competitive rates to buyers based on their CIBIL score. "We will offer an 18-month interest capitalization scheme where buyers do not have to pay anything until, they get possession and move into their homes," Rathi said.
CREDAI-MCHI is the only Government-recognized body for private sector developers in the Mumbai Metropolitan Region (MMR). With an impressive membership of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibaug, Karjat-Khalapur-Khopoli, and Pen.
With a rich legacy of 30 successful editions, CREDAI-MCHI Property Expo is widely recognized and trusted by homebuyers as a grand-scale B2C industry show to promote development projects and make a lasting impression on potential homebuyers. The Expo is meant as a platform where developers and homebuyers come together to make dreams a reality.
MCHI-CREDAI will host similar expos in other regions of Maharashtra such as Thane, Kalyan-Dombivli and so on. The 20th Real Estate and Housing Finance Expo organized by CREDAI-MCHI-Thane will take place from 3rd to 6th February, 2023 in Thane.
CREDAI as an all-India entity is also conducting expos in other cities. CREDAI will conduct its 13th edition of the CREDAI Hyderabad Property show from March 8 to 10, 2024. The show will have around 60 developers showcase over 100 projects ranging from apartment complexes to villas, plots, and even commercial spaces.
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