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R. Y. Narayanan

In a bid to give a boost to its marketing efforts for projects outside Coimbatore city, the TNHB has invited applications for appointment of agents to sell ready-to-occupy houses in Kannama Naickanur in Udamalpet project area.

COIMBATORE, April 18

THE Tamil Nadu Housing Board (TNHB) is adopting an innovative strategy to sell residential houses and plots developed by it in areas outside Coimbatore city through direct selling agents.

The TNHB has been conducting sales melas in a bid to push sales of unsold houses in its projects. These sales melas have received an encouraging response from the public.

In a bid to give a boost to its marketing efforts for projects located outside Coimbatore city, the TNHB has also invited applications to appoint agents to sell ready-to-occupy houses in Kannama Naickanur in Udamalpet project area and developed plots in Mudalipalayam near Tirupur and in Perianaickenpalayam.

According to the conditions set by the TNHB, the direct selling agents should be institutions. Individuals would not be appointed for this work. It has also stipulated a stiff deposit payment of Rs 50 lakh.

The board has mentioned that the agents appointed would have the right to sell properties up to a deposit payment of Rs 50 lakh.

The agents would be given six months to sell the properties earmarked for them.

The allotment letters would be issued in the names of the persons who purchase houses/plots from the agents and the sale deeds would be executed in their favour.

But the TNHB has stipulated that the agents should give an assurance to sell Rs 50 lakh worth of properties booked for sale by them within the six-month period.

Otherwise, at the end of six months, the TNHB would execute the sale deed for the unsold properties in the name of the agents concerned themselves.

The TNHB has stated that the agents would have the liberty to sell the properties at a price higher than that stipulated by the board. But the allotment letters to the buyers would mention only the board's price.

The Executive Engineer, Special Divisions II and VI, TNHB, Coimbatore, Mr V.V. Balakrishnan, told Business Line that the board had taken this special initiative to sell the remaining plots near Tirupur and Perianaickenpalayam and houses in Udamalpet, all in Coimbatore district. The number of houses to be sold in Kannama Naickanur in Udamalpet project area was around 300.

He said the board had been conducting sales melas to market projects that were coming up in the city area and most of them had been sold out. Only the TNHB projects outside Coimbatore needed an additional marketing push, for which the board had decided to appoint marketing agents.

He said the agents would have to sell the plots/houses booked for sale by them before fresh allotments were made.

He was reluctant to disclose the value of the properties sought to be sold through this special drive but hinted that it would be substantial.

Mr Balakrishnan said the board would take up fresh projects once the existing backlog was cleared. Coimbatore was one of the first districts where this experiment was being attempted.

However, the new marketing effort was also a reflection of the current real estate scenario in the district, where the industrial recession had sent several sectors of the economy into a tailspin.

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