There's good news for prospective buyers of property. At the True Value Property show that begins today and goes on till Monday at Kora Kendra in Borivli, buyers can negotiate prices of flats offered by builders. However, the extent of discount depends on each builder and his projects.
There's good news for prospective buyers of property. At the True Value Property show that begins today and goes on till Monday at Kora Kendra in Borivli, buyers can negotiate prices of flats offered by builders. However, the extent of discount depends on each builder and his projects.
The exhibition will have more than 80 builders showcasing approximately 250 projects, mostly between Mira Road and Virar. Flats between Rs 4 lakh and Rs 24 lakh are up for sale at the exhibition. Builders say that the 1BHK flat at Rs 4 lakh is available only at Virar.
Ajay Mandevia of Earth Properties, organisers of the exhibition, explained, "The realty market is in turmoil and this is the perfect time to invest in property.
The builders, too, have agreed to negotiate prices." Pankaj Agarwal, director, Agarwal Group, says, "Buyers are likely to compare the rates offered by different builders at the exhibition and demand a reduction in prices. However, the discount margin has not been decided. It will depend on each builder," said Agarwal
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Ashwin Mehta, director, Poonam Developers, said, "Yes, there will be negotiations and bargaining by the builders. I have several lucrative offers and am offering flats at low rates at the exhibition." Mehta who was initially selling a 2BHK flat at Virar for Rs 17 lakh has reduced its price to Rs 13.99 lakh. He says he has slashed rates especially for the exhibition.
Prospective customers are happy that the builders are wooing buyers. "Builders have realised that they won't be able to sell property unless they reduce their rates. With heavy discounts on offer, the probability of people buying houses has increased," said Gaurav Gupta, operations head with a communications agency.
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