The Confederation of Real Estate Developers’ Associations of India (CREDAI) will organise the 16th edition of its exhibition ‘FAIRPRO 2024’ from March 8 to 10 at Chennai Trade Centre in Nandambakkam.
This year, viewers can choose from a whopping 200 projects, showcasing 32.5 million sq.ft of apartment space, 0.25 million sq.ft of commercial space, and 325 acres of plots at the expo. Ahead of the exhibition, a home loan mela will be held from March 1 to 3 at Vijaya Mahal, T. Nagar.
At a press meet held on Monday, S. Sivagurunathan, president, CREDAI Chennai, said: “This year, FAIRPRO will showcase homes starting from ₹15 lakh to ₹15 crore from over 75 CREDAI developers. Also, eight banks will offer home loans. Incidentally, CREDAI Chennai enjoys a whopping 82.6% share in the residential market in terms of the number of units sold.”
According to Aslam Packeer Mohamed, convenor, FAIRPRO 2024, “As an industry, we employ over 60 million, as well as being the second-largest employment generator in India. This year, we expect over 50,000 visitors to participate, thus driving the demand for other allied sectors, such as construction, finance, consumer goods, etc.,”
The bank sponsors who will provide exciting offers and exclusive deals at the event this year are State Bank of India, who is also the title sponsor, and private banks – Axis Bank, Canara Bank, HDFC Bank, ICICI Bank, Indian Bank, LICHFL, and Tata Capital.
Chennai’s property trends
Even with property prices rising, both residential and commercial sectors are showing positive trends, according to CREDAI Chennai.
“We are witnessing encouraging growth with rising sales in both residential and commercial sectors. Property prices are rising due to an increase in construction material and labour costs while unsold inventory is at the lowest compared to the last five years,” said P. Kruthivas, secretary, FAIRPRO 2024.
