Chennai: The Confederation of Indian Industry (CII) will organise the fifth edition of ‘Estate South 2011' on March 22 and 23 with the theme as ‘South Realty: Vision 2020,' with a road map for real estate sector in the next decade.
Talking to reporters, Irfan Razack, chairman and managing director, Prestige Group, said the outlook on commercial real estate had picked up with better occupancy levels this year, including IT/ITES sectors.
In the residential sector, the demand was huge due to urbanisation and it would continue to grow with focus on middle and lower middle income families.
T. Chitty Babu, president, CREDAI, said infrastructure had to be in place; otherwise, development could be haphazard.
White Paper would be presented to the chief ministers of the four southern states at the end of the conclave.
Saying that very high interests will be a dampener, R.V. Shekar, managing director, Lancor, suggested a long term stable interest regime.
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