Chennai, Feb 11 (Inditop.com) Around Rs.3,000 crore worth of residential properties at a price ranging from Rs.10 lakh to Rs.8 crore will be on the offer at the third edition of a property fair to be held here from Feb 19.
“About 250 residential properties between 550 sq.ft and 5,600 sq.ft from 45 developers will be showcased at Fairpro 2010 that begins on Feb 19 at Chennai Trade Centre,” Sandeep Mehta, chairman of Fairpro 2010, told reporters here Thursday.
The three-day fair is being organised by the Tamil Nadu chapter of Confederation of Real Estate Developers’ Associations of India (CREDAI).
He said 80 percent of the properties fall under the Rs.25 lakh and Rs.35 lakh price band. There will be around 200 ready to occupy apartments that will be on the show as last year’s recession had hit the real estate sector badly.
According to him the notable aspect of properties showcased in the Fairpro is that they have been cleared by CREDAI’s legal due diligence cell so that a buyer is not put to trouble later.
Further developers of some projects are offering interest subvention which in turn means a prospective buyer can get a loan at 5.99 percent rate.
“The interest rate is valid for two years. All the properties have been approved for housing loans by leading lenders.”
