MCHI's PROPERTY 2010 Exhibition successfully winds up amidst record footfalls

MCHI, India's prominent body of real estate builders and developers, showcased properties of renowned builders at MCHI PROPERTY 2010 Exhibition, held at the MMRDA grounds in Bandra Kurla Complex from October 21st to October 24th 2010. The exhibition showcased more than 400 projects witnessed by over 20000 families in the 17th edition of the Housing Finance and Real Estate exhibition.

  • (1888PressRelease) October 28, 2010 - Mumbai Maharashtra - Over 20000 families visited MCHI PROPERTY 2010 exhibition MCHI members sold out 121 flats during the Exhibition in their LCD TV scheme Housing Finance Institutions (HFIs) received a high number of loan enquiries.

    Chamber of Housing Industry (MCHI), India's most prominent body of real estate builders and developers, showcased properties of renowned builders from the Mumbai Metropolitan Region (MMR) and select Indian cities at PROPERTY 2010, the 17th edition of the Housing Finance and Real Estate exhibition, which was held at the MMRDA grounds in Bandra Kurla Complex from October 21st to October 24th. The State Bank of India and Axis Bank were the co-organisers.

    MCHI's PROPERTY 2010 showcased more than 400 projects in the 17th edition of the Housing Finance and Real Estate exhibition, and got a fabulous response from visitors across the four days. Positioned as India's largest and only Official real estate exhibition, in this edition, the exhibition introduced unique buyer- friendly initiatives.

    PROPERTY Exhibition series is organized bi-annually by MCHI and is currently in its 10th year, said Mr. Sunil Mantri, President, MCHI, "Since its inception, over 250,000 families have made this event the definitive home buyers' destination. It offers the largest range of properties and developments from across all segments including budget, mid-segment and luxurious situated across the length and breath of the Mumbai Metropolitan Region and other Indian Cities. Further, the presence of fifteen leading banks & Housing Finance Institutions (HFIs) at this edition offered the widest possible choice of home loan products."

    MCHI's PROPERTY 2010 was partnered by State Bank of India, and Axis Bank, as co-organisers; HDFC and ICICI were the Platinum Partners; while HSBC and India Bulls Housing Finance Ltd., were the Gold Partners.

    MCHI's PROPERTY 2010 was different this year, said Mr. Deepak Goradia, Hon. Secretary, MCHI, and it worked to the home buyers' advantage. "For one, there was the MCHI Assurance, which brought in the the 'safe and secure' aspect for a home buyer. Very simply, it meant that MCHI had worked with all the participants to make sure that projects exhibited for sale were in adherence with the MCHI Assurance. In other words, these projects had a Commencement Certificate (CC) and/or Intimation of Dis-Approvals (IOD). Also, these projects had to fulfill the requirement of sanctions towards home loans from any leading HFI or nationalized bank. Any project without the above was clearly labeled as an "upcoming project" at the exhibition," he added.

    Mr. Boman Irani, Chairman, MCHI Exhibitions Committee said, "PROPERTY 2010 was planned and organized so as to enhance the comfort and convenience of the home buyer. There were a number of initiatives that were taken to make sure that every visitor thoroughly enjoyed the experience of buying a home, while making the most informed choice. The family would get to learn about the largest and choicest properties and developments, under one single roof."

    Mr. Mukesh Patel, Co-Chairman, MCHI Exhibitions Committee said, "PROPERTY 2010 turned out to be one of the largest 'home buying experience zones', given that there were over 70 developers exhibiting over 400 properties and developments from across the MMR. We are happy with the good response at MCHI's PROPERTY 2010. We have seen a large number of genuine buyers visiting the exhibitions during last four days. There were good numbers of inquiries for homes across the budget spectrum, from affordable to premium, at locations in the MMR."

    Among the new initiatives introduced at MCHI's PROPERTY 2010 was the Kids' Zone, to faciliate parents shop while the kids were engaged at the kids zone. Mr. Bandish Ajmera, Co-Chairman, MCHI Exhibitions Committee pointed out another innovation during this edition of the exhibition. "To enhance customer comfort, there was the added facility of pre-registering to attend the show from the comfort of one's home or office. Pre-registrations were done through a website, SMS or via a call-center, which had been set up especially for the event." Those who registered on the spot paid a entry fee of Rs. 50/- which is being donated to a charity 'Clean Cities Society of India', an agency which works with 32 slums in Mumbai for the welfare and upliftment of the slum dwellers.

    In a special initiative initiated by MCHI, about 25 developers offered visitors to the exhibition who booked a home on the spot, subject to a few terms & conditions, an LCD TV free. Diwali is the festival of colours, and for the lucky home buyers who got an LCD TV with their home purchase, will witness a very colourful festival indeed, said Mr. J S Augustine, co-ordinator, MCHI Exhibitions Committee.

    "MCHI's PROPERTY 2010 has rightly served the purpose of reaching out to home buyers. The success of the exhibition has further strengthened confidence as regards the positive sentiment in residential real estate in the MMR", said Mr. Zubin Mehta, CEO, MCHI. "The properties showcased in the exhibition matched the best International standards for amenities and facilities. Some of the high-end amenities in projects on offer included swimming pools, health club, play area etc, while the exhibition also offered budget homes. MCHI being an 'official' organization of Real Estate Developers, recognized by the Government of India and Maharashtra, meant the exhibition translated into added security, satisfaction and peace of mind for home seekers."

    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 500 well-recognized and reputed member builders, developers MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.

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