GST Rate Cut and Tax Benefits attract potential home buyers to CREDAI Realty Expo
Bengaluru, March 15, 2019: In the wake of GST rate cut and other tax benefits, first edition of CREDAI Realty Expo, held on March 02-03, 2019 at The Lalit Ashok and March 09-10, 2019 at Radisson Blu, saw a good response from the first-time home buyers.
Real Estate properties near the metro stretch observed inflow of more enquiries from the potential customers as it provides end-to-end connectivity. With different tax benefits and affordable housing loans made available, the trend towards investing in properties in different locations in Bangalore by millennials is also on the rise. Smart home was the key attraction for many of the tech-friendly millennial customers.
Speaking about the expo, Jayanand Singh, an IT employee said, “CREDAI Realty expo gave me an opportunity to meet different realty developers from the city. The advantage of this expo is that offers a single platform where potential home buyers like us get to meet more than 30 developers at one shot and discuss about the variety of projects they currently have and will offer in future. I had shifted my base in Bangalore almost 5 years back and now, I have decided to settle here. Investing in real estate and owning your own house is more economic than paying rentals every month. Also, the tax benefits that have been offered in the Union Budget for the first-time home buyers led me to take the decision of buying my dream home in the city. I am here looking for a tech enabled home as it is the future of homes.”
Elaborating on the CREDAI Realty Expo offers Mr. Shankar Sastri, President, CREDAI Karnataka said “It is a unique platform where we make our potential customers meet different developers and bankers. We associate with various financial institutions who help our customers to finalize on their decision. Also, the affordable to uber luxury projects offered by our developers in the expo gave a variety of choice to the potential home buyers to choose from.
From the sources of the leading Banking Partner, they had more than 200 enquires and they have done 107 Home Loan spot approvals, during the 2 day expo at Radisson Blu. The projected business on Housing Loan could be more than 50 crores in these 2 days.
Highlighting the real estate market in Bangalore Mr. Ashish Puravankara, President, CREDAI Bangalore said “Bangalore being primarily end-user driven has more or less been one of the more stable markets in terms of real estate. With the growing IT/ITES & now the start-up community in the city, the housing demand is growing everyday. To keep up with this strong latent demand, developers are constantly innovating with unit sizes, smart homes, environment-conscious homes, innovative green spaces. Now the metro line is attracting developers to build in the vicinity, which should address the woes of the daily commute too.
Corporate Comm India(CCI Newswire)