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25 Jul 2024, Edition - 3299, Thursday

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Positive growth in real estate sector visible

Covai Post Network


Coimbatore : In the background of visible positive growth in the real estate sector for the last few months, Coimbatore Chapter of CREDAI is organising its three-day annual property exhibition from Sept 13 here.

The 11th edition of CREDAI FAIRPRO 2019, will serve as the meeting ground for property developers and buyers, with 100 plus RERA Certified properties by over 35 real estate developers from across India, CREDAI local secretary Rajiv Ramasamy told reporters here Wednesday.

One has a wide choice for picking their dream homes, which are available for every budget from Rs.eight lakh and Rs.five crore, he said.

Stating that last edition had a business worth Rs.150 crore, CREDAI president, Surender Vittel said that with a visible positive growth in real estate business despite the economic slow down in other sectors, this edition is expected to
do a business of Rs.175 crore.

The Fairpro will be a platform for customers to get to know about the latest projects of real estate developers from in and around the city, Tirupur, Erode, Salem, Madurai, Chennai, Bengaluru and Kerala, Fairpro Chairman, Abhishek said.

On impact of economic slow down, Rajiv said thought the media reports suggested such a slow down across the country, it has affected only certain pockets and Coimbatore and other two tier cities were witnessing a positive growth in the real estate sector for the last few months.

To prove his point, he said that the growth was due to change in the choice and preference of public, who wanted designed apartments for giving on rent like paying guest accommodation, short term stay for six to eight months for business purpose particularly in IT field.

Rajiv also said that the builders and developers were able to sell over 60 per cent of their unsold properties for the last three years during this period.

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