The annual three-day property exhibition, Fairpro 2014, organised by Confederation of Real Estate Developers Associations of India (Credai) began on Friday with Tamil Nadu Governor K. Rosaiah appealing to the construction industry to meet the needs of people.
“In the age of information, the needs of people have changed drastically and it has become imperative for builders to plan their real estate projects to suit their changing needs,” Mr. Rosaiah said.
Pointing out the real estate industry was going through a transition, he said, in terms of quality of construction, India was on a par with international standards. Lauding Credai for being the guiding force to the industry, Mr. Rosaiah said it had ushered in transparency in the sector.
Proximity to bus terminii and railway stations, availability of water and basic infrastructure of a good quality topped the list of requirements of property hunters who visited the exhibition on the opening day.
“We own a house, but we are planning to buy an apartment. In the city, we cannot expect to get a flat with even proper ventilation within our budget,” said Kasturi Mahadevan of Uthandi.
Ramamurthy and Saroja, who own a house in Adyar, were scouting for a flat in the price range Rs. 50-Rs. 55 lakh. They were planning to invest in a house for their son, the couple said.
Speaking on the occasion, R. Venkatesan, member secretary, Chennai Metropolitan Development Authority, said, in 2013, they had issued planning permits for 528 special buildings and 79 multi-storey buildings.
Thanga Kaliyaperumal, secretary, housing and urban development department, was present. Sandeep Mehta, president, Credai-Chennai, welcomed the gathering. Suresh Krishn, secretary and R. Sivagurunathan, convenor, Fairpro 2014, also spoke.
