The demonetisation drive by the Centre has not hampered the real estate industry here and this year’s FAIRPRO will witness more footfalls, said Suresh Krishn, President of CREDAI-Chennai.
According to him, more than 25,000 footfalls are expected on Saturday and Sunday at FAIRPRO 2017, a real estate exhibition organised by Chennai chapter of Confederation of Real Estate Developers’ Associations of India (CREDAI) at the Chennai Trade Center, Nandambakkam.
The two-day event was inaugurated by actor Tamannaah Bhatia, Housing and Urban Development secretary Dharmendra Pratap Yadav and B. Ramesh Babu, chief general manager, State Bank of India. Around 75 developers showcasing 300 residential projects with the prices ranging from ₹10 lakh to ₹10 crore are participating in the exhibition.
Mr. Krishn said that the age of the home buyer has come down when compared to a decade ago. “Earlier it used to be the 50 plus category but now a lot of youngsters want a home at an early age. Today, earning capacity has gone up,” he added.
Ananth, Convener, FAIRPRO said, “We have seen a positive sentiment among home-buyers and developers have also come up with projects across the city to cater to the needs of the buyers. FAIRPRO 2017 is a platform where home-buyers get to fulfill their dreams of investing in a home.”
Banks including SBI, PNB Housing Finance Ltd., LIC Housing Finance Ltd., HDFC Home Loans, ICICI Bank, Axis Bank, Indian Bank and Aditya Birla Finance Home Loans are a part of this event. Two weeks ago a Home Loan Mela was organised by CREDAI where home buyers could walk in and find out their loan eligibility.
“We had around 1,475 walk-ins during the loan mela when compared to 1,200 last year. Loan worth ₹750 crore has been in principal approved by the banks,” Mr. Krishn said.
