Vikas Gupta, JMD, Earth Infrastructures Ltd explains why property carnivals can be a boon for the real estate sector. Read on to know more…
The slowdown in the real estate sector has propelled developers to try new strategies to attract buyers. A concrete step in this direction is to arrange real estate carnivals at various cities across the country. Holding property carnivals is not a new idea. There are organizations like Confederation of Real Estate Developers Associations of India (CREDAI) conducting carnivals.
If this process is transformed into a movement, it will help in intensifying the process. Developers get a common chance and place to exhibit their projects, interact with prospective buyers and generate business deals at such events.
The property carnivals prove beneficial not only for developers as they surely churn business but also prove useful for buyers and investors too. They get a golden chance to visit stalls of every developer and ask for details and brochures. It gives them an opportunity to physically interact either with company officials or developers’ themselves, which otherwise seems impossible for them to do. The most significant thing is that local buyers and investors get a chance to have the officials at their doorstep if the deal materializes.
However, a property carnival is said to be successful only if the turnout of buyers and investors is in significant numbers. Otherwise, the whole exercise will prove futile. Such events must be held at spacious venues and also within the “heart” of the city. These events are held for two or three days.
Therefore, venue of such events should be held inside the premises. It has been observed that such events go waste if these are held in the outskirts of the cities and also in the open due to sudden rough weather. For instance, a property carnival held in the outskirts of the Ludhiana city did not prove successful.
Various organizations and real estate companies have to take an initiative to make a “movement” for holding property carnivals across the country. These carnivals should be planned in such a manner that these should not put much economic burden on developers. Rather, the organizers should run this “movement” on the basis of “no profit no loss” for cause of the entire real estate sector. If it happens, realtors, buyers and even investors will surely find tremendous change in the overall scenario in real estate sector. Of course, the initiative will give a boost in real estate sector.
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