At realty fair, luxury shares space with budget housing
September, 20th 2014
The 10th edition of Gujarat Institute of Housing and Estate Developers (GIHED) property festival began on Friday with 600 residential and commercial properties on display at Gujarat University convention centre.
While the last two years witnessed a focus on affordable housing, this year's property festival has a large number of luxurious, high-end property developers sharing space with affordable housing projects. Commercial property projects are also on display at the event.
According to GIHED officials, about 25% of the total property displayed is of high-end, luxurious homes.
"The new floor space index has led to several changes in the way projects are created and sold. While affordable housing remains the top-selling project, we have seen many high-end properties getting the attention of visitors," GIHED president Yogesh Bhavsar said.
"We saw footfalls of 22,500 visitors on day one, which is five times more than what we saw on day one of last year. This shows that people in Ahmedabad and Gandhinagar are keen on purchasing property this year. We expect over two lakh people to visit the festival over the next two days," said Bhavsar.
The three-day event was inaugurated in the presence of urban development minister Shankar Chaudhari.