A GREAT SHOW
The Times Property Expo 2010 garners a scintillating response from the buyers, says SHILPA SACHDEV
Buyers made a beeline for JW Marriot last week to check out the array of properties displayed at the Times Property Expo 2010. The exhibition, which ran from July 2 to 4, 2010, had top developers showcasing their product offerings, making it a perfect occasion for buyers to zero in on their dream home. Residential demand was definitely the front-runner as buyers made serious enquiries and came up in huge numbers to the exhibition in search of better investment options.
Ashok Chhajer, CMD, Arihant Superstructures Ltd says, "The response was excellent in spite of the rains on the weekend. People did make a serious effort to come and check out the properties. There was a big inclination noticed towards properties in Navi Mumbai. The Mumbai capex is very high for an average homebuyer so people were looking aggressively at Thane and Navi Mumbai where the capex is affordable and there are options available in the range of Rs. 50 lakhs below. Of course, there is no limit to high end options but cheaper alternatives are available in these territories so people were keen on exploring these destinations. Our projects Arihant Arham at Panvel and Arihant Daksh at Badlapur have flats in the range of Rs. 20 lakhs and Arihant Aradhna at Kharghar and Arihant Sparsh at Vashi are on the higher side. But there were consistent walk-ins, about five to eight site visits and also five to seven flats got converted post the exhibition. Mostly people preferred under-construction properties so that they can plan their investment well. Such exhibitions serve a good platform to meet and connect with the buyer."
Kaizad Hateria, GM - Residential Sales and Customer Relations, Rustomjee adds, "We received almost 250-300 walk-ins every day so the response was really good both in terms of the quality of people that came to the exhibition and also the footfalls. The exhibition managed to attract some serious buyers as against the window shoppers. In that sense the target segmentation was well-achieved. Also, people who visited the exhibition showed interest across various geographical locations. We showcased four projects namely Elanza at Goregaon, Urbania at Thane, Oriana in Bandra and Elita in Juhu. In a matter of three days we also managed a few site-visits, which is quite good. Though the buyer is guided by his aspirations these days, one should not forget to take a practical decision while buying a home and also look at cost overruns. A well-planned layout for a value price is the right strategy to buy with."
Properties in central and upcoming locations were in great demand. Anshuman Bhakre, GM, Ajmera Group says, "We showcased a few of our projects in Wadala, Borivali also the two new projects coming up in Pune and Wadala along with an IT Park at Marol. But residential demand clearly was the prominent driver. People showed more interest in Wadala properties as Wadala is more centrally located. There were about 200 walk-ins per day at our stall. Such exhibitions help build the brand, however a location like the Bandra-Kurla Complex would have impacted demand further."
The exhibition did manage to provide a wide choice to the buyers. Siddharth Bhatia, Marketing Manager, Wadhwa Group says, "We had a reasonably good number of walk-ins that we hope would materialise in the form of conversions soon. The exhibition has just recently concluded but the response from buyers was good. We showcased eight residential projects spread all across Mumbai. There was good demand for locations like Goregaon west, Palm Beach road, Ghatkopar, Juhu and also Borivali and Powai. The buyer was looking for a quality product at a reasonable price. The audience was an interested audience seriously looking to invest in property. Exhibitions like the Expo are helpful to connect with the buyer and present the product offering to the target audience on a more one-to-one level."
Those looking to invest in second homes also had plenty to choose from. Santosh Naik, MD, Disha Direct informs, "The response was very good with over 1000 visitors and 400 genuine enquiries at the Expo. Amongst the enquiries we are hoping to have around 50% of site visits and 30-40 bookings in the coming few days. We observed that the buyers were keen and looking at second homes both plots as well as constructed projects as an investment option. We got a good response for our studio apartment project in Alibaug and Survana Villas in Shahapur while the plot project Landmarc Hills in Shirol too attracted a good number of buyers."
Township projects from Pune also saw a great demand. Ajay Singh, GM, Kumar Properties says, "Our project called Megapolis located at Hinjewadi, which is close to the Expressway, saw a lot of interest from the buyers. It is a selfsustained township spread over 150 acres and priced reasonably well at Rs. 2700 per sqft. The buyer today is very price-sensitive and our prices were competitive enough for them to take notice. Also the project shares a boundary with companies like Tech Mahindra and TCS so rentals too won't be a problem for those who invest in this property." Rohit Sumanth, Business Development Manager, Marvel Realtors adds, "The response was impressive. We managed to get one booking and we are extremely happy about it because generally it is difficult to get a booking during the exhibition itself. We haven't done any detailed analysis as yet but our project at Koregaon Park got the maximum response." The plethora of projects at the exhibition did manage to provide something for every type of buyer who visited the show!
Inputs: Disha Shetty