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Property fair begins

Special Correspondent

Three day long exhibit is meant to target the middle income group Three-day HDFC exhibition attracts 35 developers

PRIME PROPERTY: Renu Sud Karnad, executive director, and Mathew Joseph, regional manager, Housing Development Finance Corporation, visiting a stall at Chennai Trade Centre, Nandambakkam, on Friday. — Photo: R. Shivaji Rao

CHENNAI: The Housing Development Finance Corporation's three-day-long property show, `Budget Homes,' began at Chennai Trade Centre in Nandambakkam on Friday.

About 35 developers are participating. The show has been designed to highlight houses costing between Rs. 10 lakh and Rs. 25 lakh. Also on display are residential units having a maximum value of Rs. 1.2 crore.

"We exhibit houses of any type and any size," Renu Sud Karnad, HDFC Executive Director, told reporters.

Over 175 projects

Showcasing over 175 projects, the exhibition is open to the public between 10 a.m. and 8 p.m. on Saturday and Sunday. The HDFC, which is holding such a show after four years, has decided to invest in a residential project at Mogappair.

Ms. Karnad said the boom in real estate industry in Chennai was "real," considering the fact that more youngsters, particularly those working in information technology companies/business process outsourcing firms, are keen on buying property. The organisation has 18 branches in different parts of the State and one in Pondicherry. It has established Home Loan Services India Private Limited to carry out the business of housing loan.

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