With the economy actually limping back to life after the Covid stunner, the CREDAI-Ahmedabad GIHED has chosen to defer its property show to January as it would be to the greatest advantage of the financial backers just as real estate professionals. The peak group of Ahmedabad-based engineers has been putting together the three-day property show as a rule before Navratri consistently.
However, since influx of NRIs is expected to peak towards December end, the new management of CREDAI-Ahmedabad GIHED has decided to hold the event in January, said sources. Besides, several developers are planning to launch their new schemes in December and January.
The event this time is scheduled to be held at GMDC Ground unlike the previous event that was held online.
Confirming the news, President of CREDAI-Ahmedabad GIHED, Tejas Joshi said, “We wanted the vaccination drive to conclude positively. Also, with the beginning of the NRI season we can expect more buyers at the show.”
The association is expecting participation from around 65 developers and more than 350 projects, worth Rs 20,000 crore, on display.
Around 80 per cent of the projects are residential schemes, Joshi said.
Chairman of Deep Builders Dinesh Patel said, “Conducting the property show in January makes more sense as it will give a better conversion-ratio in sales.”
Managing director of ISCON Group, Jateen Gupta added, “We expect the effect of Covid-19 to wane as most people should be vaccinated by then. So, the buying sentiment among them is also expected to improve.”
Reacting to the property show being shifted to January 2022, Partner at Excel Group, Rajiv Patel told Mirror, “It is a wise decision because in the current market situation, the show may not have got as many footfalls as expected.”
He added, “It would have hurt the participating developers too because in spite of spending money there is no surety of sales happening at the show. Though, Diwali festivities will offer a clear picture of the realty market’s condition.”