Madurai’s real estate sector looks promising
At Fairpo, a two-day real estate fair organised by the Madurai chapter of Confederation of Real Estate Developers’ Associations of India (CREDAI) things were looking bright for housing sector. There were 24 stalls which were specialising in gated communities, homes for the elderly and others.
Collector K. Veera Raghava Rao and Corporation Commissioner S. Aneesh Sekhar were the special guests. The Collector said that a booming business was an indicator of a growing economy and CREDAI must take steps to address the concerns of the common man. “Owning a house is matter of pride. Most people from humble backgrounds place all their faith in realtors when they build their houses because they lack domain knowledge. So CREDAI must establish a grievance redress mechanism,” he added.
The housing sector was making the move from a ‘zonation pattern’ to a ‘mixed use pattern’ with close access to entertainment and amenities quoted The Corporation Commissioner. The industry must work closely with the Corporation so that there is no communication gap. The special guests talked about the growing infrastructure of Madurai and also added that the corporation is planning to widen pavements in the city.
R.Ilankovan, vice-president of CREDAI-Tamil Nadu, said Madurai had immense potential for growth as it was an ‘end-user market.’ People looked for independent houses here instead of apartments, as it is the trend in big cities. T. Pandiarajan, president of CREDAI-Madurai, assured that peripheral expansion would soon take place in a big way in the city. Surely, this proves how the civic body and many other organizations are coming together for bringing good infrastructure for the people of Madurai.