Aug 19th 2014
With the investment sentiment in the realty sector improving, the property exhibition `FAIRPRO 2014’ being organised by the Confederation of Real Estate Developers’ Association of India (CREDAI)-Coimbatore, is expected to generate business volume of about ₹40 crore, according to Rajesh B Lund, President of CREDAI-Coimbatore.
He said for the first time, the show will also be live on the Internet.
Speaking to newspersons in Coimbatore on Tuesday, he said the 6th edition of FAIRPRO, to be held in the city from Aug 22 to 24, would put on display about 100 projects by 35 CREDAI members and would feature nearly 5,000 units, both residential and commercial. The properties would be priced in the range of ₹20 lakh to ₹3 crore. To assist in spot finance, three banks — SBI, PNB and Axis Bank — and two home finance companies — HDFC and LIC Housing Finance — would also have stalls at the venue.
I. Gugan, Convenor, FAIRPRO, said the fair would include an affordable housing segment featuring properties in the Rs.20 lakh to Rs.30 lakh price bracket. National players including Tata Housing and L&T Housing would also showcase their projects at the fair.
The `virtual expo’ would remain online for a full year and viewers could get details of projects put up at the exhibition on the Net at www.fairprocoimbatore.com.
This would be particularly useful for NRIs, and would help CREDAI Coimbatore `go global’.
According to Lund `not many (new) projects have come in this year’ and all developers in the city recorded there was `good, steady sales’ last year. With better consumer sentiment, bookings were also on the rise.
When his attention was drawn to Coimbatore city missing from the list of a large number of infrastructure development initiatives announced by the State Government, the CREDAI-Coimbatore President said the city has been witnessing investment in housing by people from outside the city.
He wanted the State Government to focus on infrastructure projects for the city, including flyovers and scheme roads. It was also imperative to have more industrial units so as to create more employment.
He said with construction costs galloping, the public have realised `it is the best time to buy’, particularly as land costs are not going to go down. Many developers are looking at affordable housing as a good business opportunity and are targeting buyers looking for properties up to ₹50 lakh, with the property size ranging from 800 sq.ft to 1300 sq ft, depending on location.