Real estate inventory worth ₹350 crore sold at CREDAI-MCHI expo

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CREDAI MCHI Expo received more than 21,000 footfalls from serious home buyers and 185 housing units worth more than 350 crore were sold during the three-day exhibition which showcased properties by more than 75 developers in the Mumbai Metropolitan Region, the developers’ body said in a statement.

The CREDAI-MCHI team, in front of the e-registration section at the 31st CREDAI MCHI expo held in Mumbai Metropolitan Region..
The CREDAI-MCHI team, in front of the e-registration section at the 31st CREDAI MCHI expo held in Mumbai Metropolitan Region..

The Expo was held at the Jio Convention Centre in Bandra Kurla Complex. It showcased a few innovative concepts, including e-registration of property documents by Maharashtra government’s Department of Registration and Stamps.

Over 500-plus residential properties, and more than 100 commercial properties and 50 plotted development projects from MMR developers were showcased at the expo, and home buyers could book their homes without paying the 6% stamp duty and registration charges.

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Domnic Romell, president of CREDAI-MCHI, said, “The turnout of homebuyers at the expo showcased the positive sentiments in the real estate industry. These were interested customers and hence could avail the various offers, huge discounts and complementary furniture. The flexible payment options aimed to ease the EMI burden, enhancing homeownership accessibility encouraged the total bookings. We designed special incentives for women home buyers to promote inclusivity and empowerment.”

Nikunj Sanghavi, convener, Property Expo, CREDAI-MCHI said, “The theme of this year’s expo, “Zero is our Hero,” has garnered significant attention. Exclusive perks like 0% stamp duty and registration fees further amplified the expo’s appeal. Moreover, the Super CP 2024 scheme, providing an extra 0.25% commission to channel partners for each confirmed booking. There was a lucky draw with winners taking home Rs. 1 lakh every hour. “

The Department of Registration and Stamps had set up a special section where e-registration of properties could be done. Hiralal Sonawane, IAS, Inspector General of Registration and Stamps, Government of Maharashtra said, “Government’s initiative of Digitalisation has seen major push with the launch of the facility of e-registration of documents by the Department of Registration & Stamps.

Also Read: Pay no stamp duty if you book a flat at the CREDAI-MCHI property expo in Mumbai

This service can be availed from any location and at any time without visiting the sub Registrar’s office. This service is available to the developers and construction professionals to register an Agreement to sale or first sale of documents from their offices itself. We encourage all developers to adopt this service at the earliest. The department is committed to supporting developers through comprehensive training sessions and dedicated support teams.”

E-registration is legally compliant electronic mode of registration of documents under the Registration Act 1908. Sonawane said e-registration will bring transparency, efficiency in property transactions and enhance accessibility for all stakeholders involved.

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