Realtors expect pick-up in demand for projects

An increase is expected in demand from buyers during the festive season on the back of new project launches and easing of funding norms by financial institutions, expects Maharashtra Chamber of Housing Industry (MCHI)-Confederation of Real Estate Developers Associations of India (Credai) MCHI-Credai Secretary Boman Irani told the media that home buyers have literally been sitting on fence due to various reasons. But now prices have stabilised. With more and more new projects coming up and easing of funding norms, now it is expected a huge demand from buyers which may also translate into them purchasing properties, he added. MCHI-Credai is organising a four-day expo from November 1 at Bandra-Kurla Complex, where 15,000 properties will be showcased and over 120 developers would participate. The expo, showcasing properties from across Mumbai and adjoining areas, will feature housing units ranging from one to 5 BHKs, studio apartments, duplex, penthouses, row houses, bungalows besides second and holiday homes. The properties to be showcased at the expo have received necessary approvals and have clear titles. Some developers may offer freebies in view of the ongoing festive season. This will further fuel demand, he added.