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Property fair showcases wide range of options

Staff Reporter

Festival discounts and home loans at special rates on offer

Photo: S.R. Raghunathan

More options: Minister for Information and Urban Development Parithi Illamvazhuthi in discussion with CREDAI Tamil Nadu president T. Chitty Babu (left) at the ‘Living Spaces 2010' property fair in Chennai on Friday.

CHENNAI: With 58 builders and 10 banks and financial institutions under one roof, ‘Living Spaces 2010', a property fair that opened here on Friday offers a choice of projects at different price ranges.

The four-day fair presented by The Hindu Property Plus at the Chennai Trade Centre was inaugurated by Minister for Information and Urban Development Parithi Illamvazhuthi. The festival season is here and this is the right time to make an investment – this is the atmosphere a majority of the participating builders and banks have created by offering festival discounts and home loans at special rates. ‘Living Spaces 2010' is also serving as a platform to make announcements about new projects.

With both public and private sector banks coming up with different home loan schemes, their representatives say the property fair is a good place to compare rates and check transparency.

Apartments priced between Rs.10 lakh and Rs.8 crore have been showcased. While budget housing projects are encouraging more people to own a house, selling in bulk is a new trend some builders are seeing demand. “Corporates are selecting 40 or 100 units in a project for their employees. This was quite prevalent in north India, now companies believe instead of giving perks this is a good way to retain them,” says T. Chitty Babu, Chairman and CEO of Akshaya Homes and president of CREDAI Tamil Nadu. Shashi Talwar, a resident of Adyar, who does not miss any property fair in the city, said: “These expos help usmake a good choice and sometimes you get a good deal.” ‘Living Spaces 2010' is open from 10 a.m. to 8.30 p.m. till October 4.

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