Thursday, 16 February 2012
Property fair:Real Estate Developers' Association of India (CREDAI)
The annual property fair organised by the Confederation of Real Estate Developers' Association of India (CREDAI) promises to be better and bigger this year. The three-day ‘Fairpro 2012' exhibition, from February 17 at Chennai Trade Centre in Nandambakkam, will have nearly 65 developers showcasing around 250 projects. The projects are priced from Rs.10 lakh to Rs.10 crore.
Addressing a press conference here on Tuesday, N. Nandakumar, Secretary, CREDAI Chennai, said the market now is more stable and more promising than the previous years. “There is no problem with the market as such. If there are any delays in projects, it could be with the builder,” he said.
Talking about some of the challenges faced by the industry, Ajit Kumar Chordia, treasurer, CREDAI Chennai, said the steep increase in the guideline value was going to cause incredible hardship to sellers and buyers. The transaction value is only going to go up because of this.
Mr. Chordia said the industry is still waiting for clarity on the vacant land tax, especially for properties in municipalities.
T.Chitty Babu, president, CREDAI Chennai, said a legal corner would also be available at Fairpro 2012 to help prospective buyers seek any legal clarification.
Addressing a press conference here on Tuesday, N. Nandakumar, Secretary, CREDAI Chennai, said the market now is more stable and more promising than the previous years. “There is no problem with the market as such. If there are any delays in projects, it could be with the builder,” he said.
Talking about some of the challenges faced by the industry, Ajit Kumar Chordia, treasurer, CREDAI Chennai, said the steep increase in the guideline value was going to cause incredible hardship to sellers and buyers. The transaction value is only going to go up because of this.
Mr. Chordia said the industry is still waiting for clarity on the vacant land tax, especially for properties in municipalities.
T.Chitty Babu, president, CREDAI Chennai, said a legal corner would also be available at Fairpro 2012 to help prospective buyers seek any legal clarification.
