Financial institutions eyes revenue of INR 1000 crore from NAREDCO Maharashtra’s Homethon Property Expo 2023

 by Priya Jadhav

The National Real Estate Development Council (NAREDCO) Maharashtra is all set to host the second edition of HOMETHON Property Expo 2023, India’s largest real estate property expo at the JIO World Convention Centre, BKC, Mumbai from November 24 to 26, 2023. Leading housing finance companies are looking to grab this opportunity to generate substantial revenue from this 3-day property expo. They will have attractive home loan offers awaiting the home buyers.

 

The share of residential housing loans in total advances has increased over the last eleven years to 14.2 per cent in March 2023 from 8.6 per cent in March 2012, as per the Reserve Bank's latest Financial Stability Report (FSR). It also said the housing sector is witnessing a healthy growth with sales growing by 21.6 per cent in the fourth quarter (January-March) of 2022-23. In addition to rising sales, new launches also maintained healthy growth, reflecting strength in demand by end-users.

 

Commenting about the overall demand, Mr. SandeepRunwal, President, NAREDCO Maharashtra, says, “We have seen robust sales numbers in the past few months. This property exhibition is here at an appropriate time, just a week after Diwali, where home buyer sentiments are at an all time high; further driving housing demand. This year we are expecting over 50000 walk-ins at the expo which will be a win-win situation for the investors, developers as well as the housing finance companies alike. We expect the housing finance companies to generate a revenue of over Rs. 1000 crore through this expo.”

 

Housing Finance Companies like State Bank of India, ICICI Bank, Central Bank of India, HDFC Bank and Aditya Birla Housing Finance, among others, to help facilitate home loans at the event. The exhibition is expected to provide immersive experiences with various leading developers, top-tier properties, housing finances, sales, knowledge sessions, and much more.

 

Shri G.S. RANA - Chief General Manager, SBI Mumbai Metro said, “SBI, being the largest Home Loan player in India, is fully geared up to leverage the influence of an event like HOMETHON, being organized by a prestigious industry association like NAREDCO. At the event, we will be offering, on the spot approvals to potential Home buyers at the most competitive interest rates and lowest to nil processing fees in our ongoing campaign ‘Festive Delights’.”

 

“We truly believe in partnering with customers in their journey of owning their dream home, by being thorough in due diligence and ensuring a hassle-free home ownership. We firmly believe in chasing solutions for customers. SBI also offers a wide range of products and services to its customers making it the lender of choice. We will also be leveraging our partnerships with the leading developers of India, through project approvals and construction funding,” Shri Ranafurther added.

 

The inaugural HOMETHON Expo held last year received phenomenal success with as many as over 45,000 quality walk-ins visiting the expo. HOMETHON 2022 provided over 500 leads to each participating exhibitor. A total of over 100 units were sold and the revenue generated from the sales post the exhibition is to the tune of over 1000 crores. This year’s expo will be seeing an even larger developer presence along with larger walk-ins showcasing over 500 top notch projects from Maharashtra’s leading developers.

 

The HOMETHON Expo 2023 will showcase over 500 top notch projects from Maharashtra's leading developers. Home buyers will get to choose from an array of properties across segments; be it affordable or luxury housing. These include properties from across Mumbai and MMR as well as Thane, Kalyan, Navi Mumbai, Panvel, Raigad, Mira Road, Vasai, Virar etc. In addition, properties from Nashik and Nagpur along with second home projects and plotted schemes will also be on display. The three day property extravagance will showcase premium real estate brands from across the state.