Trichiites prefer flats over individual houses

 The first day of the three-day exhibition hosted by Confederation of Real Estate Developers' Associations of India (CREDAI) showcasing real estate projects across the city saw residents thronging the stalls at Hotel Sangam to enquire about projects on Friday.
Organisers said that a majority of visitors showed interest in purchasing units in apartments and gated communities as the construction cost of individual houses have been escalating due to several reasons including inflation of raw materials prices.

CREDAI, the apex body of private real estate developers associations to create a platform for builders associated with CREDAI to market their projects and also providing an opportunity for customers to meet multiple builders across the state, had displayed available real estate projects in Karumandapam, Vayalur road, Srirangam, and Kallanai road localities. About 26 stalls with as many as 15 builders and seven bankers as well as housing finance institutes explaining the facilities and provisions available to purchase new houses, took part in the exhibition. The residents so far have shown interest in purchasing apartment pattern of houses, said an organiser.

Though more than 30 projects including flats and individual houses priced between Rs 20 lakh to Rs 1 crore were showcased in the exhibition, organisers claimed that most of the visitors enquired about the properties available in the range of Rs 30 to Rs 35 lakh. "More than 500 people visited the stalls on first day of which about 250 people have registered with the real-estate developers to keep in touch about purchasing the available units," P Ravichandran, president of CREDAI, Trichy chapter, said. A directory comprising the projects of real-estate developers associated with CREDAI in Trichy were launched by the district collector K Rajamani in the evening and the exhibition was inaugurated by the corporation commissioner N Ravichandran.

Organisers said that all the projects displayed in the property exhibition are approved by the banks and finance institutes so that loans will be sanctioned at the earliest.

Source