Bangalore, September 3rd, 2016: Hotel Park Plaza, Marathahalli, the venue for the CREDAI-Bengaluru Realty Expo, held on September 3-4thsaw thousands of prospective home buyers walk on the first day today. The Expo has numerous projects covering most areas in Bangalore city on display.
This two-day Expo had under one roof 42 builders and 3 financial institutions each of which interacted with prospective customers. The Expo was inaugurated by Mr. KK Malpani, Founder President CREDAI-Bengaluru. Speaking at the inauguration, Mr. Malpani said, “Real estate is growing immensely in Bengaluru for the last couple of decades. Developers from across other cities have also started foraying into Bangalore to establish their presence due to the huge demand here."
Realty in Bangalore is currently doing well with residential sales witnessing a stable growth of 9% to 10% each year. Residential real estate market is driven primarily by social infrastructure, proximity to workplaces, good infrastructure and access to general facilities. Micro-markets such as Whitefield, the ORR IT corridor, Electronic City and few areas in North Bangalore are witnessing demand in the steady increase demand. There is also a rise in demand for high-end residential apartments, particularly in the Central Business District (CBD), Secondary Business District (SBD), Whitefield, North Bangalore and Outer Ring Road sub-markets. Areas such as Mysore road, Hosur road, Kanakapura road etc. are also on the radar of potential home buyers.
Speaking on the event, Mr. Suresh Hari, Secretary, CREDAI-Bengaluru said, “This Expo is the first of a two-expo series and is location-based with a focus on potential customers in and around the Koramangala, Indiranagar, Electronic City and other areas in the radius of the venue. These buyers will have access to details on properties spread across Bangalore. Over the years, these Expos have grown in popularity and there is a huge demand for it. The participation this year has been phenomenal, both by builders and financial institutions and not to mention people as well. We offer a single platform for people to browse through properties that all uphold the high standards of CREDAI”.
Among the many people visiting the Expo was Harish, 34, an IT professional. Speaking on the Expo and its offerings, he said "I am looking forward to buying a flat close to Whitefield as that make commuting to my work place easy and the distance to children's school minimal".
The real estate segment is stable at the moment and it is as good a time as any to invest in a home. With the economy looking up, more people are looking at purchasing homes and building up their long term assets portfolio. An exhibition of this nature allows CREDAI approved projects to be showcased, along with great finance options. It also provides for interaction between people and brand, allowing for all doubts to be clarified. The expo saw customers crowd various builder stalls.
Mr. Suresh Hari also added that in India, home buying is a family-oriented decision and one that is never taken without consultation with each member of the family. “At an exhibition of this nature, family members can get together and have all their queries addressed. They will also be taken through a property and its salient points, giving them lot of food for thought to make the right decision”.
The CREDAI-Benguluru Expo is currently in progress and will be on till September 4th.