FAIRPRO 2016, the annual property expo hosted by the CREDAI, is all set to begin at CODISSIA complex from July 1 onwards. In case you are planning to purchase a home in Coimbatore, now is the right time to do so, say experts.

The Centre had, in March this year, passed the Real Estate (Regulation and Development) Act, 2016, in the Rajya Sabha and the Lok Sabha. The bill seeks to protect home-buyers and aims at boosting investments in the real estate industry.

Furthermore, with Coimbatore being declared a Smart City, its ratings as a good place to invest in real estate has grown tremendously.

“People understand and have accepted that fact that the current real estate prices are the lowest, and are not going to drop any further. On the other hand, the cost of construction is not going to decrease further either. Interest rates for home loans have also dropped. All these factors have only prompted people to consider purchasing a home in Coimbatore,” Rajesh B. Lund, President of the Confederation of Real Estate Developers Association of India (CREDAI), Coimbatore said. He was addressing the media ahead of FAIRPRO 2016, the annual property expo hosted by the CREDAI.

Throwing light on FAIRPRO 2016, Rajesh said that 38 property developers from Coimbatore and five from Chennai are expected to participate in the expo. Seconding him was Kalpesh Bafna, Secretary of CREDAI, Coimbatore, who added, “Five banks are participating in this edition of FAIRPRO 2016.Visitors will have access to over one hundred properties. We are expecting about 3,000 serious buyers to visit FAIRPRO 2016.”

When asked about the expected volume of transactions FAIRPRO 2016 is expected to generate, Rajesh was positive that it will be much better this year. “In Chennai, FAIRPRO 2016 generated a business of Rs. 306 crores. We are positive that the Coimbatore edition of FAIRPRO 2016 will do well,” he said.

FAIRPRO 2016 will be organized at Hall ‘E’ of CODISSIA Trade Fair Complex from July 1 to 3. Entry is free.