Sunday, June 14, 2009

Mumbai-based Nahar Group sells out its offering at the India Realty Show 2009 in Dubai

DUBAI, JUNE 10: The Mumbai-based Nahar Group has again demonstrated the trust and confidence that Indian expatriates in the UAE have reposed in their project, Nahar Amrit Shakti. Sukhraj Nahar, Chairman of the Nahar Group said the India Realty Show 2009 organised by the Maharashtra Chamber of Housing Industry in Dubai from June 4 to 6 had an excellent turnout of visitors, which underscored the return of buyer confidence vis-୶is Indian real estate. “At our stall, we had 600-plus visitors during the three days, and we have completely sold out the two towers we had opened bookings for especially for this exhibition,” said Mr Nahar.

The exhibition saw the Nahar Group offer a new product category, ‘intelligently designed compact homes’ which offered a 2 BHK flat in approximately INR 55 lakh. “The product positioning was just right for the Indian expatriate buyers in the UAE, and the tremendous response we got proves that the right sized product with the right price is a sell-out, added Mr Nahar.

The Nahar Group has been having a marketing office in the UAE since the past few years, while its tie-up with the leading home finance institution, HDFC has also been a winning proposition. “We have a home finance product exclusive for our project from HDFC, wherein a buyer pays just 20 per cent of the flat’s cost at the time of booking,” explained Manju Yagnik, vice chairperson, Nahar Group. “The balance 80 per cent is payable at time of possession, when is when the equated monthly instalments (EMI) start,” she said. “In effect, the Indian expatriate in the UAE just has to book a home at Nahar Amrit Shakti with a 20 per cent down payment, and not worry about any further financial outgo until the flat is ready for possession,” she added.

Rajnish Oswal who was at the MCHI India Property Show 2009 exhibition said it was unbelievable, the manner in which Indian expatriates visited the show. “They had come with the intent to buy a home in India , and it speaks of their confidence that they came with cheques to make their bookings, while others have made appointments for site visits during their annual vacation in the coming two months. At the Nahar Group stall, visitors who had come just to see what was on offer ended up coming for a second time with family, and the third time with the cheque to book their ‘dream home’. It was positive thought process backed up by positive action on part of the Indian expatriates,” he added.

The Nahar Group organised a get together of its Indian expatriate customers from the UAE at the Sheraton Creek Dubai Hotel and Towers on 7 June. The event, widely attended by customers of the Group, was an opportunity for the company’s chairman and vice chairperson to interact with customers and strengthen the links, said Sukhraj Nahar. “We prefer to look at the relation as being part of the Nahar Group family, rather than as developers and customers. If we are to maintain and strengthen the links with buyers in our project, it is necessary to keep in touch and get feedback from our Dubai-based Nahar Group family members,” he added. “It doesn’t end with the sale – when an Indian expatriate buys a home from us, we see it as the start of a mutually beneficial relationship – something the phenomenal response we got from buyers at the exhibition underscored,” he concluded.

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