MCHI's 18th PROPERTY 2011 Exhibition Winds Up Amidst Record Footfalls

Mumbai, Maharashtra India (PressExposure) April 20, 2011 -- MCHI's 18th PROPERTY 2011 Exhibition winds up amidst record footfalls

• Positive Sentiment Sees Large Turnout of around 74,516 approx. visitors • MCHI members log large number of serious enquiries: site visits lined up over next fortnight • Housing Finance Institutions (HFIs) report large number of loan enquiries

Mumbai, April 20, 2011: Maharashtra Chamber of Housing Industry (MCHI), India's most prominent body of real estate builders and developers, showcased properties from renowned builders across the Mumbai Metropolitan Region (MMR) and select Indian cities at PROPERTY 2011, the 18th edition of the Real Estate and Housing Finance exhibition, which was held at the MMRDA Grounds, Bandra Kurla Complex from April 14 to 17, 2011. The State Bank of India and Indiabulls Home Loans were the co-organisers. HDFC and ICICI were the Platinum Partners, LIC Home Finance was the Gold Partner and Development Credit Bank the Silver Partner.

MCHI's PROPERTY 2011 showcased more than 1500-Plus properties from 100-plus developers in the 18th edition of the Real Estate and Housing Finance exhibition, and got a fabulous response from visitors across the four days with total 74516 people visiting the exhibition. Positioned as India's largest and only Official real estate exhibition, the exhibition, in this edition, introduced unique buyer- friendly initiatives.

The PROPERTY Exhibition series is organized bi-annually by MCHI and is currently in its 11th year, said Mr. Sunil Mantri, President, MCHI. "MCHI over the years has emerged as a strong bond between home buyers and the developers. The organization has extended its reach across all the regions of Mumbai Metropolitan Region (MMR) in the recent past reaching out all stakeholders. Hence, Property 2011 assumed great significance this time around. We were confident on record number of visitors and large number of deals for properties happening in the four day mega event this year, and that has happened."

Mr. Deepak Goradia, Hon. Secretary, MCHI Exhibitions, said, "MCHI's bi-annual mega exhibition has truly emerged as India's most successful and trusted property exhibition series over the period of a decade. This largest exhibition is a perfect platform to fulfill the dream home aspirations of potential home buyers. "PROPERTY 2011 was different this year, and it worked to the home buyers' advantage. For one, there was the MCHI Assurance, which brought in 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 2011 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."

Among the new initiatives introduced at MCHI's PROPERTY 2011 was the Kids' Zone, to facilitate parents' going about the exhibition while the kids were engaged at the Kidzone. 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, some of the developers offered visitors to the exhibition who booked a home on the spot, subject to a few terms & conditions, an LCD TV free. "It is always a pleasant surprise to get such an add-on, and for the lucky home buyers who got an LCD TV with their home purchase, it will be a very pleasant memory indeed, said Mr. J S Augustine, co-ordinator, MCHI Exhibitions Committee.

"MCHI's PROPERTY 2011 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."

"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 breadth of the Mumbai Metropolitan Region and other Indian Cities. Further, the presence of leading banks & Housing Finance Institutions (HFIs) at this edition offered the widest possible choice of home loan products," concluded Zubin Mehta.

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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Press Release Submitted On: April 20, 2011 at 9:19 am
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