Fairpro 2012 took off in Coimbatore on Friday with 31 property developers displaying nearly 100 residential projects in and around Coimbatore.
Inaugurating the three-day exhibition, organised by the Confederation of Real Estate Developers’ Associations of India (CREDAI) at CODISSIA Trade Fair Complex, K. Phanindra Reddy, Secretary, Housing and Urban Development, Tamil Nadu, stressed the need for sustainable urban development. It was urban development that ensures environmental, resource and social sustainability, he said.
The real estate sector was seeing double digit growth. Countries such as Singapore made private transport expensive and invested funds in public transport. Property developers, architects and town planners could come out with suggestions to improve the planning process and parameters and expedite the planning process, he said.
Madan Lund, chairman of Fairpro 2012, said five financial institutions were also participating.
“We have taken larger space this year, hoping to do larger turnover.” Seminars would be held on all days of the event to create awareness among the public on legal issues and vaastu. A fair directory was also released.
There were residential projects, both independent houses and apartments, which were in the pipeline, under construction or ready to occupy. The area of the houses ranged from 550 sq.ft (single bedroom) to 4,000 sq.ft. each. The fair will be open from 10 a.m. to 8 p.m. and the organisers expected business of nearly Rs.75 crore this year.
The exhibition is organised by CREDAI in Coimbatore for the fourth consecutive year. The participants are CREDAI members who have signed the “Fair Practices Protocol” of the confederation.