Maharashtra Chamber of Housing Industry (MCHI), is organising its Property Show in Dubai, U.A.E. from January 12 – 14, 2012.
MCHI’s India Realty Expo, 2012 – Dubai aims at providing a platform to the expatriate Indians as they explore the opportunities available in the Indian real estate industry, especially in Mumbai and the Mumbai Metropolitan Region (MMR). Leading developers will participate, showcasing residential and commercial properties, plots and bungalows from across the MMR as also Mumbai’s nearby locations, said Paras Gundecha, President, MCHI.
“MCHI has set up a Consumer Grievance Cell, this will add to the ‘safe and secure’ aspect of buying property for expatriate Indians at MCHI’s India Realty Expo, 2012 – Dubai,” he added. “This initiative is expected to make buying at MCHI’s India Realty Expo, 2012 – Dubai a truly safe and secure experience,” he added.
All member developers of MCHI who are participating in MCHI’s India Realty Expo, 2012 – Dubai are signatories to the Code of Conduct, which ensures transparency in transactions, said Boman Irani, Hon Secretary, MCHI. “This is an important step, and it ensures greater transparency and safety for NRIs buying at the event,” he added.
Bandish Ajmera, Chairman, Exhibition Committee MCHI said participating developers in MCHI’s India Realty Expo, 2012 – Dubai have agreed to the exhibition-specific Code of Conduct, which will ensure greater transparency for NRIs who buy at the event. Ms Manju Yagnik, co-chairperson, Exhibition Committee, MCHI said this event-specific code of conduct takes into account the unique nature of an NRI buying property at MCHI’s India Realty Expo, 2012 – Dubai, and safeguards their interests.
Largely, NRIs buying Indian property have concerns about timely possession of the home booked as also getting all amenities and facilities as per the agreement signed. In a move that will re-assure property buyers from the G.C.C. and the U.A.E. at MCHI’s India Realty Expo, 2012 – Dubai, MCHI will ensure that participating developers sign ‘A Mandate of Assurance’, effectively promising home buyers at the event that they will deliver what has been promised, said Boman Irani.
The MCHI assurance will add to the safe and secure buying experience for the NRI who buys a home at MCHI’s India Realty Expo, 2012 – Dubai. “This will bring in accountability as regards projects being completed on the dates promised in the promotional material or in the agreements. If there are delays in handing over possession, and if the customer has made all payments as mentioned in the agreement, the builder will ensure that the buyer’s interests are protected,” said Bandish Ajmera.
The MCHI will also claims to stand by the buyer when it comes to the developer delivering all amenities promised in the agreement. “In the event that any such amenity or facility is not provided for, MCHI will take up the issue with the developer,” said Manju Yagnik, co-chairperson, Exhibition Committee, MCHI. “All participating developers in the MCHI’s India Realty Expo, 2012 – Dubai have signed the MCHI Assurance, which means that they undertake to abide by the same. This will ensure that NRI buyers in the Gulf have a ‘safe and secure’ experience.”
Dubai being the leading location in the U.A.E. for holding Indian Property Shows has been the deciding factor in making it the perfect venue for this property exhibition. Also, its location would give greater accessibility to Indians living in other parts of the G.C.C. to visit this exhibition as well.
The MCHI President said, “With the current scenario as regards global currency markets, expatriate Indians will find buying Indian property extremely lucrative. Real estate in Mumbai and the Mumbai Metropolitan Region has emerged as extremely attractive investment options for expatriate Indians, seeing the huge growth potential it offers. In line with the growing interest in Indian Realty, MCHI’s Property Shows facilitate an interaction between the NRIs, realty investors & developers, all under one roof, wherein they get to know firsthand the types of properties available, loan options & other formalities required, in finally procuring their property back home.”
“Indians living in the U.A.E. are among the well placed among the Indian Diaspora. The high-end expatriate Indian who is in the top level income group, has a high disposable income. With the current scenario in global currency markets making Indian realty very atractive, this seems an ideal time for them to invest in property back home. This would give them excellent returns at the same time giving a boost to the Indian economy” , added the Hon Secretary, MCHI.
Zubin Mehta, CEO, MCHI added, ” MCHI’s India Realty Expo, 2012 – Dubai is official, and is being held in Dubai in January 2012. The interest levels amongst NRIs has increased many-fold in the past few months. NRIs have benefited immensely through MCHI’s exhibitions, which are the only official Property exhibitions held worldwide & have bought peace of mind by making the right choice in purchasing properties from our shows. We are proud that we have played a key role in facilitating such a process for the NRI community at large & we strive for bettering this year.”
