Dubai NRIs optimistic on Indian Real Estate

13th India Realty Expo, was held on 03rs to 05th June 2010 at Renaissance Dubai Hotel, Dubai. Organised by Maharashtra Chambers of Housing Industry.
The show was inaugurated by His Excellency Mr. Naresh Mehta, Consul Commerce of India, Consulate General of India, Dubai-U.A.E. He was accompanied by Mr. Zubin Mehta, CEO of Maharashtra Chamber of Housing Industry.
The show was a great success from seller’s point of view. Mumbai especially western suburbs got major enquiries. Andheri, Powai, Goregaon and Malad were most wanted areas for investment.

Mumbai, June 11, 2010: Maharashtra Chamber of Housing Industry (MCHI), the most prominent body of real estate builders and developers in India has received a cheering response to their ‘13th India Realty Expo 2010’ held in Dubai, with 2847 NRI’s visiting the exhibition in three days during June 3 and 5, 2010.

“Looking at the factors such as attractive prices of Indian real estate as compared to Dubai coupled with a lackluster trend in local markets there, turned out a bonanza for the Indian realtors exhibiting their properties in the Dubai exhibition with investors and genuine buyers visiting in large number this year.”, said Mr. Sunil Mantri, President MCHI.

Eighteen leading developers and builders from India including Acme Housing (India) Pvt Ltd., Akar Creations Pvt ltd., Ashiana, Delta Group, Everest Developers, Godrej Properties Ltd, Hiranandani Constructions Pvt Ltd, Kolte-Patil Developers Ltd, Marvel Realtors, Nahar Group, Nirmal Lifestyle, Nyati Group, Our Town, Pathy Housing, Prathmesh Construction Pvt Ltd, Runwal Group, Rustomjee, Uma Constructions- represented by United 4 realtors. Among the HFIs HDFC Ltd. and Standard Chartered Bank also participated in the exhibition.

“We have seen tremendous response and turnout for the exhibition this time. Projects in Bandra, Andheri, Powai, Kandivali, Borivali, Ghatkopar, Thane, Navi Mumbai from Mumbai and other cities such as Pune, Bangalore and Goa received a lot of enquires for residential flats. Quality of visitors was good and mostly they were affluent, focused and high end consumers. Moreover visitors showed interest in 2/3 BHK flats ranging from 60 lakh to 1 crore”, said Mr. Deepak Goradia, Hon. Secretary , MCHI.

“India Realty Expo 2010 held in Dubai achieved great success this year, since most of the exhibitors were offering ready properties or possessions between 3-6 months. We have really encouraged with the over the counter sales of 70 flats worth Rs 560 crores during the three day exhibition, said Mr. Zubin Mehta, CEO, MCHI.

This was the 9th year of the India Realty Expo in Dubai to provide a one stop solution to all the needs of an NRI intending to purchase a property in India.

The Exhibition was inaugurated by his Excellency Mr. Naresh Mehta, Consul Commerce of India, Consulate General of India, Dubai-U.A.E on June 3, 2010.