HNIs home in on A'bad properties

AHMEDABAD: Many high net worth individuals (HNI) looking for lucrative investment options found Times Property Expo held at hotel Grand Bhagawati worth visiting. Nearly 8,000people visited the expo over two days and some of them even visited the sites ofthe projects displayed at the show. The rush of people forced organizers toextend the show for another hour.Though properties in all categorieswere showcased, most inquiries were generated for high-end properties, townshipprojects and plotting schemes. Probable buyers also showed interest fordeveloping properties 60-70 km outside the city in order to get benefit ofescalation of prices.Sanjay Patel, a real-estate developer, whodisplayed a plotting scheme at the property show, said the property expo helpedhim to showcase his project to those people who could afford to buy farm houses.Some of probable buyers who had came the show on Saturday, visited the actualsite on Sunday, said Patel. A real-estate investor and an HNI,Indravadan Desai said he was able to assess current prices and news trendsthrough the property show. Desai found that prices of constructed property werehigh, but buying land close to Ahmedabad was a lucrative option at prevailingrates."We got to know of townships being developed near Ahmedabadand have started looking at such projects to buy a property," said Neha Agarwal,a visitor. Realtor Bhavesh G R got more than 20 bookings for hisupcoming plotting scheme during the property show."My parents arestaying in a 2BHK flat in Satellite. We want to upgrade property and the show isoffering a plethora of options," said Niket Mathur, an NRI fromIndonesia.Aastu Agarwal, a businessman from South Africa said, "Prices of apartments are on the higher side, but investing in plotting schemeseems to be good option.""Good investment options are displayed atthe show. I want to buy a property for my parents who are staying in Hong Kong,"said Ayesha Puri, a corporate trainer.Meanwhile, Magicbricks.comlaunched 'Build Gujarat 2020', a coffee table book which gives sneak peek onupcoming realty projects in Ahmedabad. Talking on the launch of the book, stateurban development minister Nitin Patel said, "City's realty is opening newavenues. Today, one can buy a flat of Rs 5 lakh to Rs 2 crore in Ahmedabad. Alsowith Metro rail, BRTS and Sabarmarati Riverfront projects, in the coming dayscity's real estate market with touch new highs."