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February 16 2012


CREDAI property fair to be held from Feb 17 to19

CHENNAI: FAIRPRO, the annual property exhibition of the Confederation of Real Estate Developers' Association of India, Tamil Nadu chapter, will be held in the city from February 17 to 19. Sixty-five builders will showcase 250 projects at prices ranging from Rs 10 lakh to Rs 10 crore at the Chennai Trade Centre, said Suresh Krishn, convenor, FAIRPRO.

Only projects approved by the regulatory agencies and vetted by CREDAI's legal wing will be listed for sale, he said. With a view to minimizing inconvenience to prospective home buyers, the FAIRPRO team has introduced e-service for issuing entry tickets and registration.

So far, about 20,000 people have hit the FAIRPRO website and 600 people have booked tickets, he said. CREDAI Tamil Nadu president T Chitty Babu called upon the central and state governments to be considerate towards the real estate sector.

The growth of the sector will be affected if tax benefits are not extended to realtors and tax exemption on home loan interest component is not increased from Rs 1.5 lakh to Rs 3 lakh, he said. Ajit Kumar Chordia, MD of Khivraj group, called upon the state government to slash stamp duty for registration of properties before it announces a revision in the guideline values.

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