A property show, ‘FAIRPRO 2013’, organised by the Madurai Chapter of the Confederation of Real Estate Developers Association of India (CREDAI) was inaugurated at Hotel Fortune Pandiyan on Saturday.
The two-day show has 15 flat promoters from the city – all members of CREDAI – showcasing 25 properties.
During the inaugural ceremony, S. Rethinavelu, senior president of the Tamil Nadu Chamber of Commerce and Industry, praised the efforts of flat promoters in providing affordable housing for different income groups.
“While the real estate business has almost reached a saturation point in most metro cities, the focus has now shifted to tier II and tier III cities, which are being considered by an increasing number of people for investment in real estate,” he said. The city was expanding and there was a lot of potential for investment in innovatively constructed and economically priced properties that adhered to construction norms, Mr.Rethinavelu noted. N. Nandakumar, president of CREDAI, Tamil Nadu, said developers and promoters who were members of CREDAI were known to follow construction norms and avoid building rule violations.
This would ensure that the appreciation of property as an asset was not affected in any way in the future. Through a consumer grievance redressal forum functioning within the association, CREDAI would address all grievances and complaints and sort out misunderstandings that might arise between the promoters and the consumers, he noted.
T. Pandiarajan, Chairman of FAIRPRO 2013, said since the prices of real estate in the city were now affordable, people planning to buy properties would greatly benefit from the exposure to various projects and promoters.
