AHMEDABAD: The Gujarat Institute of Housing and Estate Developers (GIHED) Property Festival kicked off on Friday at Gujarat University Convention Centre with more than 125 affordable housing projects on display.
"There was a gap in real estate last year because of the delay in finalization of the development plan. This year, we are seeing many affordable projects because that gap is being filled. Generally the area of affordable homes starts at 50 sq metre but this year, 40 sq metre area is a new option in this category. The motive, of course, is to reach out to more customers," said Rushabh Patel, president, GIHED.
With an eye on customers and investors from Ahmedabad, many real-estate developers from places like Vadodara, Rajkot, Anand, Ambaji, Palitana, Udaipur, Jaipur, are also participating in the show.
Over 250 projects are on display at the GIHED show. Out of these, 150 are upcoming residential and commercial properties. Considering the rains and the slowdown in the market, the organisers are expecting a footfall of around 80,000 during the three-day festival as compared to over a lakh last year.
As compared to 42 developers last year, 70 developers are taking part in the exhibition this year. The property show is aimed to provide opportunities to builders, developers and property-seekers under one roof.
Projects like offices, shopping complexes, residential bungalows and apartments, township projects, clubs, resorts, plotting projects, industrial parks and retail malls are part of the exhibition.
"Friday being a working day, we expect more people to walk in with their families on Saturday and Sunday. Unlike earlier when mostly men visited the property show, nowadays the whole family walks in to get detailed information about projects. This also shows the seriousness of the buyers," Patel said.
Besides selling property, GIHED aims to address consumer complaints against builders and projects at the exhibition.
Salvadore Jani, an NRI who has returned to Ahmedabad after 11 years
I am looking for a flat and have visited GIHED exhibition with an open mind. The city has grown a lot. The real estate market here is much more expensive than in European countries and I cannot understand how people can afford to buy a house in Ahmedabad anymore.