Maharashtra Chamber of Housing Industry (MCHI), in its quest to attract investments from the Middle East, would be showcasing properties of renowned builders from India, at the 12th India Realty Expo 2009, to be held in Dubai from 4 to 6 June at the Sheraton Dubai Creek Hotel and Towers.
India Realty Expo 2009 will be held under the aegis of MCHI, a member of the Confederation of Real Estate Developers’ Association of India (CREDAI), to provide an opportunity to NRI investors to explore the abundant opportunities offered by the real estate sector in India in housing as well as commercial and retail options.
The show would be a golden opportunity for affluent NRIs of the Gulf Region, who are eager to acquire ready-to-possess homes back in India. As many as 15 leading developers, all members of the MCHI, would be participating in the exhibition, which will remain open from 5 pm to 9 pm on 4th June. The timings on 5th and 6th June are from 10 am to 1 pm and 4 pm to 9 pm. The exhibition would showcase the properties from Mumbai, Thane, Pune, Goa and other cities.
Nainesh Shah, Secretary CREDAI, and Chairman International Exhibitions, MCHI, feels, “This is the right time for NRIs to buy into Indian real estate, which has seen a fair amount of correction from the peak property prices.” As one of the most reliable avenues for property trade in the Gulf, India Realty Expo attracts a massive turnout of NRIs every year. The exhibition this year will focus on ready to possess homes valued at up to Rs 70 lakh, homes offering possession within three to six months, affordable budget homes, low home loan interest rates from banks and HFIs. Special schemes by select developers / HFI. Book at 20% and pay the balance 80% on possession in easy EMIs.
J. S. Augustine, Co-ordinator, MCHI & Co-Chairman, International Exhibitions added: “Residential property prices have become more affordable and more attractive for NRIs, particularly for Dubai NRIs. Those who would invest in Dubai property will find that India is a very good option for them to invest in a home away from their hometown or in the international-standards of commercial properties.”
The featured properties match the best International standards for amenities and facilities with swimming pools, health club, play area etc. They are ideal for NRIs who are used to living and working in a globalised lifestyle and environment.
More From This Section
“One of the important factors from the investment point of view is that the exchange rate of around INR 50 = 1 USD makes purchases in India 101 per cent cheaper. Hence NRIs prefer India over the Gulf region as a safe investment,” he added. Zubin Mehta, CEO of MCHI, said: “NRIs are taking a fresh look at India as a stable market in which they can invest, or even turn to for lucrative entrepreneurial opportunities in sectors like finance, banking, insurance, media and entertainment, telecom, IT & ITeS, biotech, medicine, pharma and education.”
The India Realty Expo 2009 is entering into the 8th year and will provide a one stop solution to all the needs of an NRI intending to purchase a property in India.
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 % - 90% of residential accommodation in Mumbai and its vicinity. MCHI helps both the Central and State governments in meeting their objectives of 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.