Kumbh Mela- An opportunity for City builders to showcase their projects

Kumbh Mela, the most happening event for the millions of devotees across the globe, is currently being held in the recently announced smart city, Nashik.

Now, this is not only an opportunity for the entrepreneurs  and businessmen to boos their business, but also for the builders and developers in Nashik to showcase their finely crafted projects, both, residential and commercial.

With the slowdown in the real estaet sector in the recent years, Kumbh Mela emerges as an exciting opportuinity for the Builders and Developers to bring their projects in notice of visitors. The pilgrims and visitors include NRIs and people from different parts of the nation and the world which gives the real estate professionals a more potential bracket of buyers and investors for their projects.

This year, about 80 million people would be showing up for the mega event. The builders and developers have started exploring various dimensions of advertising to make the most of this opportunity by placing hoardings and posters of their projects across the city and nearby the Kumbh location. Since, the supply of residential projects in the market has been up to the mark but, the demand for these has declined rigorously over past 4-5 years in the city, that has led to many unsold flats and other properties in the city.

Also, this has become a much debated topic in the industry recently.  Do you think the builders should reduce the prices of unsold ready possession properties to boost the real estate industry? Each one of us will have a different reason while answering this question for or against the topic.

However, if we analyze and observe, the present scenario serves the purpose of all. A win-win situationf for the buyers who want to buy property at lesser prices and also, the investor and the builder who want to generate more income and great return on investments through their projects.

So, do we really feel that reducing prices of the unsold inventories of the builders will help real estate cope up with the existing passive situation?

Let us know what you feel.  Feedbacks are welcome!