Property fairs are quite important for real estate developers, as they get a platform to increase their customer base. In India, many realty developers, both big and small, look forward to these trade fairs to sell their ready-to-use flats and even attract prospective buyers for their ongoing projects.
Industry experts and analysts opine that a majority of real estate trade fairs prove beneficial for developers, buyers, real estate marketing firms and investors. Property-related expos play a key role in triggering business sales for developers, according to a recent poll conducted by ConstructionBiz360 where 100% respondents voted in favour of the statement.
Pravin Bavadiya, president of Ahmedabad Realtors Association, says, “Property fairs are extremely critical for the entire real estate fraternity, which includes developers, property agents, industry associations, investors and related industries. These trade fairs attract lot of footfall and help generate significant business enquiries for developers. Sales volumes get a spurt for all segments of real estate — residential, commercial and retail.”
Property agents also get a chance to promote their brands by selling properties for many developers. Buyers, on the other hand, get to interact with 30-40 developers under one roof and choose the best investment for them, added Mr Bavadiya, who is the founder and chairman of City Estate Management, a trusted property brokerage firm in Ahmedabad.
“Property fairs generally target the middle-income people and help prospective buyers of this segment get the best deal. Many developers offer 20-25% discounts, if flats are booked during the fair and this triggers their business sales. However, most sales are concentrated on the residential real estate front and not much activities are seen on commercial real estate,” opined Saurav Ranjan Datta, marketing head (Retail and Commercial) at Shriram Ozone Group, a reputed property firm headquartered in Kolkata.
Mr Datta feels that a little more promotion activities in the suburban areas can help popularise the property fairs and increase business volume for developers. Online promotion of fairs can also play a big role in increasing footfalls, he added.
International property fairs also augur well for Indian developers as they can attract the NRI population find the right investment.