Great offers at MCHI property exhibition

Builders have come up with attractive packages for buyers at the property exhibition that starts today

In a desperate bid to attract buyers, the Maharashtra Chamber of Housing and Industry (MCHI), one of the apex builder bodies in the state, has appealed to all builders participating in the property exhibition to come up with attractive offers. The MCHIu00a0property exhibition 2009 starts today and goes on till Sunday at the MMRDA grounds at Bandra Kurla complex.

Sunil Mantri, president-elect, MCHI, confirmed that they have asked builders to come up with innovative packages to lure buyers. "We want good deals to take place during the exhibition," said Mantri. He added, "There has been a substantial increase in sale of property in areas where the builders have reduced prices. We hope to do the same at the exhibition." Zubin Mehta, CEO, MCHI, said. "This is the perfect time for buyers to invest in real estate, as the rates have fallen substantially."

Attractive packages at the exhibition include reduction in floor rise price, free parking and free stamp duty among others. These offers mean an approximate 30 to 35 per cent reduction in prices depending on the area and locality. The MCHI says is will offer the best packages for homes ranging from Rs 5 lakh to Rs 5 crore at the exhibition.

However, real estate experts warn buyers to finalise their deals after giving it a thought. "Builders are known to cheat people. They will show a rosy picture and then dupe the buyers. People should be cautious about such offers," said an expert who did not wish to be named.u00a0

Guide for buyers
Check the discounts carefully before finalising a deal
Calculate the built up and super built up ratio
Check the credentials of the builder and the property papers.
See if the land has a non-agricultural land certificate
If the builder says he is offering a 35 per cent discount, then corroborate the prices in the area to verify the whether the discount is genuine.

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