With the three-day property expo “Homethon 2022” commencing from Friday, SWEETY ADIMULAM speaks to National Real Estate Development Council’s (NAREDCO) state president SANDEEP RUNWAL, about what the expo has to offer for buyers and the sector’s expectations from the state government.
What are the expectations the real estate has from this expo, which is taking place post-pandemic?
The properties are scattered, and people have to travel from one place to another. We have tried to bring everything under one roof. One can compare home loans, and banks under one roof. The expo offers flexibility and convenience of buying. It is one of the primary things that a person will experience when he comes in and buys a house at a hometown expo. The developers are also giving limited offers during these three days. So, one can avail of flexible interest rates, flexible payment plans and lower booking amounts.
How many developers have participated in this expo? What is the NAREDCO expecting in terms of property buying and registration?
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Around 150 developers from Mumbai, Pune, Nashik, Vidharbh and Surat are participating in the event. Besides, 15 to 20 banking financial institutions are also taking part in the event. We already have 28,000 people pre-registered on our website. We are hoping for a minimum of 40,000-50,000 visitors at the expo.
What all demands have been put before the new state government?
We are on a good steady run rate, and we are hoping this continues and the market remains strong. However, in the long run, the government needs to look at the taxes, which we are paying; whether it is us or the consumer because we end up paying GST, stamp duty and various types of premiums to the government. If the government take a holistic view, it will realise that more than 50-60% of our cost goes to the government. It is time to look at those costs because then only we can make housing more affordable.
Why should an investor choose real estate when one has so many other investment options?
There is always a steady growth in the real estate sector. You can put your money in stocks and bonds but these markets are volatile. Also, a buyer is not a financial investor. Home buying is the safest investment you can make in your life.
What are the price of houses that a buyer can get at the expo? Your message as a developer.
In Mumbai, the cost of houses varies from Rs 100 crore for an apartment to as low as Rs 50-60 lakh. So, it is individual affordability which determines the buying power. I would say the NAREDCO property expo is one of the best opportunities to buy a dream home and it is the place which one should visit for sure.