CHENNAI: A two-day mega property fair, ‘Expanding Metropolis’, showcasing leading property developers, organised by The New Indian Express group, began at the Chennai Trade Centre on Sunday. The expo has on display ongoing projects as well as built units.
The fifth edition of the expo was inaugurated by N Damodharan, General Manager and Zonal Head - Bank of Baroda, Tamil Nadu and Kerala Zone and J Vigneshkumar, Vice President of Marketing - The New Indian Express. Bank of Baroda, title sponsors of the expo, are offering home loans at a base rate of 10.25 per cent p.a., irrespective of the loan amount and repayment period while knowledge partners Sreenidhi Group are providing advisory services free of cost to potential customers.
Speaking to Express, Damodharan said that the expo is one of its kind in that it offers banking solutions and home solutions under one roof. He added “Bank of Baroda has consciously stayed clear of slab system of interest collection, unlike other banks, and that such a special offer has been attracting customers to the expo.”
“That the expo is in its fifth edition is a testimony of its attractiveness to the customers. Bank of Baroda is keen on continuing this partnership in the forthcoming years,” he said.
Jitendra Rathi, CEO of Callidus Risk Management Solutions Private Ltd, part of Sreenidhi group, said that despite tragic incidents such as Moulivakkam collapse, interest in customers has not wavered but they are certainly more informed.
“Customers have to conduct valuations of the property, know the legal and tax implications among others, including risk management solutions. That is where we step in. We offer all these services under one roof,” he said.
“These days, more than anything, customers are strict in that the developers provide them with soil test certificates before they commit to the project,” he added. Another of the sponsors, True Value Homes, who are currently undertaking the project - Quadrant - a 17-storey building which houses 126 apartments on LB Road in Adyar, said that there has been no lull in bookings for high rise structures.
“As far as Chennai is concerned, we have about six projects on our hands, and nearly 90 per cent of the bookings have been completed already,” said R Prabhu, Deputy Manager of Sales.