Mumbai, December 09, 2008: Maharashtra Chambers of Housing Industry (MCHI), the most prominent body of real estate builders and developers in India has received an encouraging response to their recently organized property exhibition the ‘India Realty Expo 2008’ held in Dubai, though it was mellowed down to a great extent due to the terror attacks in Mumbai on the same days.
“We have seen a reduced response but with very genuine enquires, with 367 families aggregating to around 1,100 walk-ins at the exhibition, despite the tragic events in Mumbai towards end November,” said Mr Zubin Mehta, CEO MCHI. “A high number of walk –ins was serious buyers,” he added.
Twenty five leading developers and builders had participated in the same property exhibition out of which Rustomjee, Neelkanth, Aakar, Kalpataru, Better Homes, G.C. Group, Kanakia, Godrej and Hiranandani has successfully managed to boost their sales. As per the overall response and analysis of the exhibition sales has been expected to increase during the holidays and the vacation period in the month of December 2008.
“The biggest challenge which the exhibition faced was almost all the NRIs in the U.A.E. being stuck inside their homes, watching the news channels and worrying about their near and dear due to the Mumbai terror attacks. However, despite the 'challenged sentiment' of the overall market scenario in Dubai and the Mumbai crisis, the turnout was an achievement in itself”, said Mr Mehta.
“Over 60% of the walk-ins were Mumbai specific and this created an opportunity for the Developers to close few sales on the spot. The customers have had their initial dialogue with the Developers and have shown keen interest to conclude the sales during their visit to India in this vacation.” says Mr. J.S.Augustine, Co- Chairman, International Exhibitions, MCHI.
About MCHI
Maharashtra Chamber of Housing Industry (MCHI), formed in 1982 is the most prominent body of real estate builders and developers bringing together members dealing in real estate and construction industry on one common platform to address issues facing the industry. Members of MCHI account for providing more than 80 % or 90% of residential accommodation in Mumbai and its vicinity and helps both the Central and State governments in meeting their objectives or providing shelter. MCHI works towards raising awareness among the general public, real estate and construction industry while providing them with exhaustive information on projects and new developments in and around Mumbai. With over 400 well-recognized and reputed member builders, developers MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.
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