The fifth edition of Fairpro, a property fair organised annually by the Coimbatore centre of the Confederation of Real Estate Developers’ Associations of India (CREDAI), took off here on Friday.
As many as 30 property developers are displaying details of residential projects in Coimbatore at the three-day event. Those looking at buying a house can choose from about 2,500 units in 100 projects. These include apartments of one, two and three bedrooms and independent villas. Five financial institutions and banks are also participating in the fair.
Several residential projects are coming up in Saravanampatti, areas near the Tidel Park and on Trichy Road in the city. Details of residential projects in Kerala and Karnataka are also exhibited. The participants at the exhibition are all members of the CREDAI. Those who book a property on the exhibition days or purchase one by the end of the month will get discounts in the base price.
Inaugurating the exhibition, R.R. Balasundaram, president of the Indian Chamber of Commerce and Industry, Coimbatore, said that the industrial associations here should focus on infrastructure development, especially in the fringe areas, to avoid congestion in the city. Construction activities would expand to more areas if infrastructure was developed in these places. Several cities in the State had ring roads, except Coimbatore, he said. He also urged the promoters to venture into green buildings. The construction sector was an integral part of the economy and 3.6 billion sq.ft. was lined up for construction in the country. Most of it was in the residential segment. The demand for properties was increasing, especially in tier-two cities, he said.
C.S. Ramasamy of Sreevatsa Real Estates said that the CREDAI members followed a code of conduct and their projects complied with the Government norms. In Coimbatore, the CREDAI had a redressal forum to address the grievances of customers who purchased properties from its members.
