Realty market reviving in Vadodara…

From ET Realty

VADODARA: The real estate market in Vadodara seems to be set for an upswing this year.

The CREDAI Vadodara Property Carnival 2016 organized at Navlakhi Grounds saw a record number of bookings for apartments and duplexes over last three days.

“The carnival saw nearly 160 on-the-spot bookings in three days. This the third edition of CREDAI property show but this is the first time that people have done on the spot bookings. Earlier, people only inquired about the property and left,” said Vikram Gupta, president of CREDAI, Vadodara. He added that the high number of bookings indicated that real estate market in the city is seeing a revival.

“The maximum number of bookings are for affordable flats of two bedroom-hall- kitchen and three bedroom-hall-kitchen ranging between Rs 25 lakh to Rs 35 lakh. Most of those who booked were not looking to invest but to stay in the property they were buying. We got bookings in areas like Sama-Savli Road, Alkapuri, Waghoda Road, Bhayli and Sevasi,” Gupta told TOI.

The property carnival that ended on Sunday was spread over five lakh square feet and had 84 stalls including 70 developers. Lakhs of citizens visited the carnival that also offered lucky draws to attract interested buyers. For the lucky draw, the first winner will get a two bedroom-hall-kitchen on Dabhoi Road, the second winner will get a car and the third winner will get a furniture.

“We got five bookings during this carnival and we are expecting more bookings in next one month. The footfall was genuine and it does indicate that 2016 will be a good year for real estate in the city,” said Kunal Arya, director of Darshanam Group.

“The lucky draws, on-the-spot discounts and other schemes drew lot of customers to the carnival this year. We got an overwhelming response from citizens,” said Kuntal Shah, managing director of Vedant Group.

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