A busy day at Fairpro property expo

EXPLORING OPTIONS: Customers checking out the projects at a stall at the Fairpro 2010 exhibition in Chennai Trade Centre on Saturday. Photo: R. Shivaji Rao

EXPLORING OPTIONS: Customers checking out the projects at a stall at the Fairpro 2010 exhibition in Chennai Trade Centre on Saturday. Photo: R. Shivaji Rao  

It was a busy day on Saturday at ‘Fairpro 2010' property fair, being organised by CREDAI Tamil Nadu, with builders, banks and housing finance companies making attractive offers to woo customers.

The interest subvention scheme, under which Fairpro is offering home loans at rates starting from 5.99 per cent, caught the fancy of the visitors. The scheme is available to customers who book properties during the three-day exhibition. Nearly 70 per cent of properties being marketed at the exhibition come with this offer.

With intense competition between the bank and the housing finance corporations (HFCs) such as HDFC and ICICI, for many prospective customers it seemed getting home loans was never so easy. “There are no hidden costs and we have made procedures so simple that home loans could be got without any hassle,” said S. Balasubramaniam, chief manager, Bank of India. Many banks have done away with processing and documentation fee to cut down the buying cost of customers.

But going by the enquiries, it was the interest subvention scheme that was most popular. The fair served as forum to showcase the fast-paced development on the city outskirts. Integrated townships seem to be the in-thing and eco-friendly buildings with expansive green cover one of the major attractions.

“The response has been greater this year and the hall was completely packed since morning. We are expecting a good number of bookings for the builders,” said T.Chitty Babu, president, CREDAI Tamil Nadu.

Even as the high-end projects priced over Rs.1 crore drew a good number of customers, the major market seem to be the middle-income group that zeroed in on properties whose cost range between Rs.2,500 and Rs.4,000 per sq.ft. “There is a clear polarisation between high and low-end customers. They are no more bothered about the location. If the project is satisfactory and falls well within their budget, they go for it,” says Shankar Prabhu, marketing engineer of L&T South City Project. A legal cell stall by RANK Associates saw a steady stream of visitors keen on obtaining legal opinion before they book their dream house. The exhibition, is on at the Chennai Trade Centre. Fairpro 2010 is a platform that brings together builders, bankers and financial institutions to make the process of purchasing houses simpler and less time consuming for the customers. On Sunday, it will be open from 10 a.m. to 8 p.m.

South India Property Fair

At Rani Meyyammai Hall in Egmore, the 3-day South India Property Fair began on Saturday. Organised by Prompt Publication and Trade Fairs, it features over 90 stalls of builders, layout promoters developers. Many banks and HFCs are making special offers.

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Printable version | Aug 10, 2020 2:32:43 PM |

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