By: Ravi Sinha
Track2Realty Exclusive: Some other developers maintain property exhibitions aim to bring property buyers and developers on a common platform, where home buyers can access a range of properties that suit their price points. Property expos serve as an avenue to showcase assorted projects to property seekers.
Kruti Jain, Director, Kumar Urban Development asserts it helps developers reach out to wide range of buyers. Moreover, buyers get multiple options under one roof and other benefits such as spot loan offer, site visit, etc. To sum up, property expos are indeed instrumental in boosting market sentiment. She, however, is in favour of such expo being planned around festivals.
“Sale of properties depends upon a lot of factors, market dynamics being one of them. The economic situation of the country does have an impact on the real estate sector as well. Having said that, it has been observed that property exhibitions held during the festival season generally do well. People in India believe that festivals such as Akshaya Tritiya and Gudi Padwa are auspicious and they prefer to make important investment decisions during such festivals. During the festive season, the real estate market generally shows an upward trend. So, yes, sale of properties increases substantially during the festival season,” says Kruti.
Manoj John, VP, Corporate Planning & Strategy–RNA Corp believes property exhibitions are a great help for consumers in their decision making, since it offers immediate comparison between options that would otherwise involve lot of time & effort. It does not have direct bearing on the market sentiment, but it does consolidate the direction & trends of the industry in terms of new launches, new formats or design trends.
“Discounts offered at Exhibitions provide the incentive or push for decision making, and introduces an element of urgency since the discounts are offered for a limited period. If the exhibition timing has coincided with the launch of a new property, then there is a possibility of bulk booking. Also if the discount offered is substantial, that could result in bookings to cash in on the offer,” says John.
The sector may be having its own reasons to claim property exhibitions are sales driver, brand analysts who track real estate tend to believe that it is more about the BTL and peer group networking. The debate is as endless as the future of property exhibitions itself and will continue.
From developers’ perspective conviction will be as stronger as one’s sales figure during such fest. But what can be vouchsafed is that beyond buyer-seller meet, property exhibitions are definitely a potent brand driver of real estate sector.
