CREDAI convention attracts home buyers in droves

MANGALORE: The two-day Statecon 2012'' organised by Confederation of Real Estate and Developers' Association of India (CREDAI), Karnataka chapter here with the theme 'Home for all' gave a glimpse of the demand for the housing sector from customers here.

The exhibition where 42 builders had put up their stalls, had close to 10,000 footfalls and 4,220 confirmed inquiries for dwelling units - indicating a good conversion ratio of 50%.

William D'Souza, committee member of Mangalore chapter of Credai, told TOI: Of the 4,220 inquiries at 5 pm on Sunday, there 30 bookings worth Rs 15 to Rs 20 crore.

Of these as many as 118 inquiries were for ready to occupy apartments,'' he added.

The two bank stalls, State Bank of India and Mangalore based Corporation Bank received more than 300 inquiries for home loans. While Corp Bank got the maximum of confirmed inquiries of 98, SBI had 62.

D'Souza said enthused by the success of this event they will hold another property show. Wee will invite major banks to come and participate with special interest rates,'' he noted. PMA Razak, president of Mangalore chapter of Credai said: The success of this event made builders, who did not participate in this event, the potential of such a show. They too will join us next time.

The villament project by SPAS Infrastructures also had lot of inquiries but no confirmations. Kavinand Pinto, sales manager of the firm said: There were nearly 100 inquiries for the villament at Shakthinagar. The customers told us they would like to see the project site and decide. Some genuinely interested ones did not have the budget,'' he added. The 150 villament project started in May and the first of 75 villaments will be completed by September 2014. The 2,300 to 2,800 built up units will cost Rs 3,700 per sq ft. There was a bonanza for travels agencies also with them receiving confirmation for 62 tours and 150 passport inquiries.

Source: timesofindia.indiatimes.com