Navi Mumbai: Four-day property exhibition of CREDAI BANM in Khandeshwar

Navi Mumbai: The four-day property exhibition of CREDAI BANM Raigad in Khandeshwar has brought a large number of homes in affordable segments in the Panvel taluka areas.

Properties from Dronagiri, Pushpak Nagar, Rasayani, and Panvel-Matheran Road have been displayed in the sixth mega property exhibition of the Raigad unit.

Expectations from the 4-day exhibition

During the four days exhibition, the organiser is expecting that around 75,000 home buyers will visit and developers will seal around 500 deals. Jitu Jagvani, President of BANM Raigad, said that they are going on the value of sales but they are focusing to fulfil the dream of a maximum number of home buyers. “As the theme of the Property Expo 2022 is The City of Dream, we will try to fulfill the dreams of home buyers,” said Jagvani.

If someone is looking for affordable homes under the budget of Rs 25 lakh, they have to check properties in Khopoli or Karjat. However, with a budget of Rs 30 lakh, one can easily get home around Panvel. Dronagiri, Pushpak Nagar, Rasayani, and Panvel-Matheran Road are the emerging areas where properties with a budget of Rs 30 lakhs for one BHK are available with a number of developers.

While Dronagiri and Pushpak Nagar are being developed by CIDCO, the other two fall under the respective gram panchayat or local body.

“As CIDCO made available plots in a large number in the Panvel area through auction, new developers have come up with a number of new projects,” informed Mr Jagvani.

However, the recent hike in interest rates has dampened the mood of home buyers as EMI will be higher on home loans. Anand Sharma, a prospective home buyer from Panvel said that home buyers in the affordable segment already stretched their budget. “Now, with an increased EMIs, it's very difficult to stretch the budget further,” he said.

Similarly, Anamika Patil, another home buyer, said that owning a bigger home is important. “During Covid, my family faced a lot of difficulties in a small and rented home. So, we are searching for a bigger home,” she said.