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Desperate, builders off to US to woo buyers

The slowdown in the realty market is forcing builders to trot out innovative steps to sell flats, reports Naresh Kamath.

india Updated: Jan 31, 2009 00:50 IST
Naresh Kamath

The slowdown in the realty market is forcing builders to trot out innovative steps to sell flats.

Latest in the series is a move by Maharashtrian builders who will hold a property exhibition in Phila-delphia for the Marathi-speaking diaspora settled in the US. Over 50 developers from the state will be displaying their properties there.

The exhibition will be held from June 2 to 5 on the sidelines of the 14th convention of the Brihan Maha-rashtra Mandal, a nodal body of Mahara-shtrians settled in the US.

“We have realised that there are thousands of Maharashtrians settled in America and we want to tap that market,” said Suresh Haware, president , Maharashtrian Builders Forum and MD of Haware Builders.

Haware also admitted that the slowdown in the realty market was one of the reasons for such a move.

While builders have been holding such exhibitions abroad

for years, this is the first time that builders from Maharashtra have come together to hold an exhibition.

The convention, which is expected to attract nearly 15,000 delegates, will be inaugurated by Chief Minister Ashok Chavan. Social activist Anna Hazare will be the chief guest.

“There is a huge clientele waiting to buy property in Maharashtra. This (the slowdown) will be a good time to buy,” said Dr Shilpa Pendse, coordinator of the convention.