With the demand for homes is rising in the post-pandemic time, the National Real Estate Development Council (NAREDCO) has announced to organise a real estate exhibition called ‘Homethon Property Expo 2022’ where over 100 developers along with housing finance companies would be making their offerings under one roof.
The three-day exhibition from September 30 to October 2 will be held at Jio Convention Centre, Bandra-Kurla Complex (BKC). The event is anticipated to host about 50,000 home buyers across Maharashtra, the organisers said..
Sandeep Runwal, President, NAREDCO Maharashtra, said, “Following a two-year pandemic in which everything was limited to digital, customers will be able to see what Maharashtra’s top developers have to offer physically. The upcoming festive property expo is an excellent opportunity for fence-sitters to convert into actual home-buyers as the property market is on an upward trend.”
Niranjan Hiranandani, Vice-Chairman, NAREDCO, said, “The end user-driven property market is experiencing a home buying rally in the past few quarters. With an increase in disposable income, savings, and job stability, today’s homebuyers are more confident than ever in their purchasing decisions.”
“As all these factors come together during the festive season, the market condition is expected to be more positive. At the Homethon Property Expo, homebuyers will have a one-of-a-kind opportunity to choose from an array of offerings from various developers further enabling them to buy their dream home,” he added.
According to Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, the sales and new launches in the residential sector have kept the growth trajectory in H1 2022 and are likely to exhibit strong performance in the remaining period of 2022.
“The increase in sales exceeded 120% in Q2 2022 vs. Q2 2021; overall, H1 2022 saw more than 70% growth compared to a year ago,” he said.
“This festive season we expect the residential sector to grow further. This time of the year in India is considered an auspicious occasion to make home purchases. This season is expected to be a strong period for home sales, which will be aided by lucrative schemes by developers,” Mr. Magazine said.
“Moreover, there has been an increase in appetite for home ownership amid the receding pandemic, and with the upcoming festive season, demand may generally withstand any marginal changes in interest rates,” he added.
At a policy level, the government support for housing, especially in the affordable and mid-end categories, which have been key drivers of sales and launches, may sustain the momentum beyond the festive season, he further said.
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