Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai Chapter, said its three-day property event Fairpro 2024 that concluded on March 10, attracted more than one-third of prospective home buyers in the mid-segment.
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In Fairpro 2024, apartments emerged as the most sought-after segment, constituting 46 per cent of the bookings, followed closely by plots and the rest on Villas and commercial spaces, S Sivagurunathan, President of CREDAI Chennai, told businessline.
The fair attracted about 302 bookings with a total value of about ₹260 crore. The property show witnessed about 46,000 registrations.
About 39 per cent of bookings fell within the ₹30-60 lakh range, reflecting the popularity of mid-range properties. There was also a sustained interest in the premium property segment as about 26 per cent of bookings were recorded in the category of ₹.60 lakh to ₹1 crore, he said.
About 23 per cent of bookings fell in the ₹10-30 lakh category, which caters to budget-conscious buyers seeking affordable housing solutions. Nine per cent of bookings were in the range of ₹1-3 Crore, while 3 per cent of bookings were reported in properties priced at ₹2 crore and above.
This year’s event saw participation from more than 75 developers with over 200 projects showcasing 32.5 million square feet of apartment space, 0.25 million square feet of commercial space and 325 acres of plots spanning a wide price range from ₹15 lakh to ₹15 crore.
The Fairpro 2024 event attracted more than 31,000 visitors, said CREDAI, Chennai. The Fairpro 2023 witnessed about 312 Bookings worth ₹260 crore.