Luxury apartments, budget homes and independent villas, all called out to visitors at the Express Avenue mall, here on Sunday. The second day of the grand property fair ‘Expanding Metropolis’ saw many showing interest in the various stalls.
Rajesh, a representative of Vijay Shanthi Builders, said that there had been many walk-ins.
“People came here to enquire about our various projects and the price range.
They have collected details to make an informed decision, which is the right way to go about making any investment,” he said.
Although several projects are listed on Old Mahabalipuram Road (OMR) and on the Poonamallee side of the expanding city, Rajesh says that a majority of the people still want a house close to the heart of Chennai.
He said, “They want apartments in areas like Koyambedu, Madipakkam and so on, where it is affordable, yet only a short commute from major hubs of the city.
It is possible to get a good project in these places if one has a budget of around Rs 40 to Rs 50 lakh.
” With a big investment such as land or property or an apartment, not many are comfortable with spot bookings, said other stall managers, but still made them.
Repco Bank, the loan partner for the property fair, had announced several incentives for those willing to purchase at any of the stalls.
Jayakrishnan, a representative of the bank, said that during the two-day affair, the response has been good.
“A lot of visitors have come into the stall asking for details and we hope that for their future plans they will approach us for help in purchasing property.
” Speaking to City Express at the inauguration of the fair, managing director of Repco Bank, K Varadarajan, said that the bank was open to giving loans to anyone who showed that they are capable of repayment.
“Many banks have only 15 to 20 per cent of non-salaried customers who are given loans.
Here, around 50 per cent of the loans we give are to the non-salaried class. Anyone is welcome,” he said.
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