CHENNAI: Chief Minister M K Stalin will inaugurate the 15th edition of the real-estate exhibition - Fairpro 2023 - at the Chennai Trade Centre at Nandambakkam on February 17.
Organised by Confederation of Real Estate Developers' Associations of India - Chennai Chapter (CREDAI Chennai), the apex body of Real Estate Developers, the exhibition will feature more than 60 developers showcasing nearly 15,000 dwelling units in the price range of Rs 20 lakh to Rs 10 crore, catering to buyers from different segments with lucrative pricing and offerings across different house segments.
As a precursor to the grand event, a home loan mela will be held between February 10 and February 12 at Vijaya Mahal, T Nagar, where homebuyers can get their home loans pre-approved and avail of maximum funding.
Addressing reporters here on Tuesday, S Sivagurunathan, president of CREDAI Chennai, said that all projects under FAIRPRO 2023 have received approval and are registered with the Tamil Nadu Real Estate Regulatory Authority (TNRERA), giving homebuyers complete peace of mind. He said that this year Fairpro is expecting to rake in business worth more than Rs 300 crore, the highest achieved during the pre-Covid level.
According to CREDAI Chennai's RAW report, a total of 10,337 buildings and layout projects were registered with TNRERA. of which the buildings account for 529. The number of residential projects in the fourth quarter of 2022 was 146, roughly on par with the 145 projects that were completed in the third quarter, the report stated. In Chennai, 5,228 units were launched in the fourth quarter of 2022, an increase of 111% over the Q4 of the previous year, which was 2476
Over 60 developers to showcase 15,000 units
The exhibition will feature more than 60 developers showcasing nearly 15,000 dwelling units in the price range of Rs 20 lakh to Rs 10 crore. As a precursor, a home loan mela will be held between February 10 and February 12, where homebuyers can get their home loans pre-approved