Making Dream Homes a Reality

CREDAI MCHI Thane’s 22nd Property and Home Finance Expo 

Some real estate events become a permanent fixture on the calendars of exhibitors and visitors alike. The 22nd edition of the Property and Home Finance Expo organized by the Confederation of Real Estate Developers Associations of India (CREDAI) Maharashtra Chamber of Housing Industry (MCHI) Thane on February 7-10 at Highland Gardens, Thane West, exemplifies this concept. The event featured more than 100 real estate projects from more than 80 top brands and 15-plus financial institutions. The exhibition has remained a firm favorite of builders, bankers and buyers for two-plus decades with a focus on providing a wide spectrum of options to suit every budget and aspiration. 

“Making dream homes a reality” was the theme of the inauguration ceremony, with Maharashtra Deputy Chief Minister Eknath Shinde doing the honors. Addressing the audience, he mentioned how Thane was fast becoming the “city of choice” for homebuyers as it is a well-planned city with positive enhancements including infrastructure projects that will positively impact connectivity. Reminiscing about the journey of the expo from its inception to the 22nd edition, Shinde said he has not missed attending a single expo and that he sees the growth of Thane’s development reflected in the expo’s evolution over the years.

He also mentioned that Thane will have excellent connectivity because of the freeway extension from Ghatkopar to Thane, which will connect with the coastal road along the Ulhas River via Gaimukh to Bhayandar. From there, it will connect with the South Mumbai — Bhayandar coastal road. In effect, Thane will have quick access to all parts of Mumbai because of this connectivity, which, along with the tunnel link to Borivali, will make commuting a breeze. 

Earlier, Maharashtra Transport Minister Pratap Sarnaik spoke about the expo reflecting Thane home seekers’ wish for a home of their own, for which the expo had many options. He referred to Thane as a city that home seekers were opting for simply because it is among the best options available for a homebuyer in the Mumbai Metropolitan Region (MMR). He also mentioned how new road links are being created within Thane, which, along with the internal Metro, promise to make the internal city commute a smooth affair.

In his opening remarks, CREDAI MCHI Thane President Jitendra Mehta mentioned that the city is evolving, and in the process, home seekers are getting better options and homes that suit all requirements and fit all budgets. CREDAI MCHI Thane has played its role in ensuring the property market remains steady and stable, making the city a destination of choice for investors and end users.

Ajay Ashar, past president, CREDAI MCHI Thane, stressed the role of infrastructure in driving growth in Thane’s real estate. CREDAI MCHI President Dominic Romell mentioned how Thane is driving the growth of real estate development in the MMR with its wide range of properties and real estate offerings. State Bank of India (SBI) Thane Deputy General Manager Surajit Tripathy spoke about how SBI is playing a major role in helping home seekers make their dream homes a reality through its home loans.

Thane Municipal Corp. Indian Administrative Service (IAS) Commissioner Saurabh Rao spoke about the various ongoing projects that will have a positive impact on the lifestyle and living standards of Thane’s residents. Ashok Shingare, IAS district collector, Thane, and Ashwin Mudgal, IAS assistant commissioner, Mumbai Metropolitan Region Development Authority (MMRDA), also graced the occasion.

The expo created a special offering for women homebuyers under the “Laadki Bahen” (Beloved Sister) initiative from CREDAI MCHI Thane. Female property seekers got an unparalleled advantage during this expo, with CREDAI MCHI Thane offering a unique opportunity for women to select and buy their dream properties during the four days of the expo by paying 20% of the property’s cost upfront. Once that is done, the female homebuyer will receive the advantage of the special discount offer. Like all such special offers, there are terms and conditions, but the important aspect is that 20% of the cost of the home should be paid upfront during the four days of the expo. “CREDAI MCHI Thane hopes the maximum numbers of Beloved Sisters will take advantage of this special offer,” Mehta emphasized.

Terming the RBI’s decision to cut the repo rate by 25 basis points (coincidentally just prior to the event), as “a welcome move” for Thane’s real estate, Mehta said it was important given that homebuyers have been feeling the pinch of rising equated monthly installments (EMIs), particularly in the high-interest rate environment.

Describing the RBI’s decision to lower the repo rate as “a significant boost for homebuyers and developers alike,” Mehta said it will encourage more Thane residents to buy their homes, especially in the affordable and mid-income housing segments. He added:

“Reduction in home loan EMIs will create positive sentiment, enhance affordability and encourage more aspiring homeowners to shift from fence sitters to actual buyers. We hope that housing finance companies and banks will pass on the full benefit to consumers. A stable and accommodative monetary policy will be key to sustaining this positive trajectory in Thane’s real estate sector. I hope this rate cut will have a cascading effect on the sector, leading to sustained momentum in residential sales.” 

The expo saw home seekers moving through the stalls at the expo evaluating the wide array of available options to find and make their dream home a reality. Mehta said he was pleased by the turnout of home seekers. “We do not see numbers; we look at walk-ins representing a dream home being sought and the same coming true with the wide array of choices on offer at the expo,” he said. The RBI’s decision to reduce repo rates will create positive sentiment among home seekers, and CREDAI MCHI Thane hopes to see the impact of this during the expo, as well as in the weeks to follow, he added.

Visitors to the expo on day two were largely home seekers who wanted to compare many options all at one location, thus saving time, said CREDAO MCHI Thane Hon. Secretary Manish Khandelwal. “This is arguably the best feature of the expo: It saves time for the home seeker, making the process of home search easier,” he observed.

Sunday is the happening day for any property expo, and at CREDAI MCHI Thane’s Property and Home Finance Expo, it was a day when a huge crowd of home seekers sought their dream homes at the various stalls and pavilions. “Thane offers home seekers a wide array of choices, from budget and affordable luxury to high-end luxury,” Mehta said. 

The expo has seen home seekers across budget options and location choices looking to make their dream homes a reality. “It marks the stage of a home hunt where the family decides in which project their dream home of choice exists,” Mehta said. Then, there is a timeline of 15 days to three months in which the process is completed, “and the dream home becomes a reality,” he added. 

The expo organized by CREDAI MCHI Thane concluded on February 10 after a four-day extravaganza that witnessed an overwhelming response from homebuyers and stakeholders in real estate. The defining point of the expo, Mehta said, was the serious home seekers who visited the event. “We expect a majority of these to convert into actual home buyers over the next three months,” he added.

More than 20,000 families visited the event over its four days. Describing the response to the 22nd edition as “phenomenal,” Mehta declared:

“We are thrilled to have provided a platform for homebuyers to explore and invest in their dream homes. The organizing team from CREDAI MCHI Thane has worked hard to make the expo a grand success, but in the ultimate analysis, it is Thane itself which draws visitors to the expo.”

The expo also featured informative seminars, workshops and panel discussions on topics including new trends in housing, sustainable development and the future of real estate in Thane. Mehta observed:

“Thane accounts for a high quantum of housing launches and sales across the MMR, which underscores the importance of Thane’s real estate and how it enables home seekers to get their dream homes in the city of their dreams — Thane. It is a culturally rich city that is safe and secure and offers a lifestyle reflected in homes that meet all requirements of a family. Thane is arguably the best option for a home-seeking family to make their dream home come true. It is among the best urban conglomerations within not just the MMR, but across the nation.” 

 For the homebuyer, this event reflected the all-important “trust factor,” Ashar said. Over the years, CREDAI-MCHI Thane has been the steadying factor in this regard, ensuring real estate development is in sync with the city’s growth story, he said. “The expo provided the perfect platform for home seekers, as well as developers looking to sell their housing inventory,” he added.

From the perspective of real estate development also having growth potential for stakeholders, Thane is a real estate development hub that is constantly updating, CREDAI MCHI Thane Expo Committee Chairman Sandeep Maheshwari said. “This year, like the past 22 years, the expo was the perfect platform, creating a safe and secure option to make dream homes become a reality,” he said.

In its digital format, the expo will continue online at credaimchi.com over the next year to keep options open for home seekers, Khandelwal said.