The 5-day-long CREDAI Kerala Property Show held in Kochi last week, showcasing a wide range of residential and commercial properties from 47 builders of the State, has received an encouraging response from customers.

The show, which was held in an expansive 30,000 square-foot space at the Jawaharlal Nehru International Stadium, attracted thousands of home-buyers and investors. According to organisers, they have received more number of bookings this time compared to the show held in July this year.

MORE BOOKINGS

Mr V. Raveendran, Executive Director, CREDAI Kerala, told Business Line that even though the market condition in the real estate sector wasn't favourable this time, there were some genuine enquiries from the buyers' side, especially for completed projects. The fluctuations in the interest rates are perhaps the reasons for the poor response on the part of buyers for residential projects.

However, site visits organised by various builders for clients have gone up during the show, which can be converted into genuine bookings later on. It seems buyers have adopted a wait-and-watch approach. Once the interest rates stabilise, there will definitely be more response from the market, he said.

The CREDAI Kerala Property Show, organised by CREDAI, Kerala, has been the State's preferred venue to explore the best in realty. For the last six years, numerous consumers from the State and the Middle East have been choosing their homes and business spaces from the CREDAI Property Show, especially because of its credibility, he added. This time, the participants include the foremost builders from Kerala and outside Kerala.

Apart from property developers and major home accessory brands, there were stalls of leading banks to financially support the home buyers. He pointed out that Kochi, the emerging metro of India, is witnessing a lot of developments, to be realised in the near future, making it a favourite residential and investment destination in Kerala. The city is witnessing newer phases of growth and progress like the Metro rail and the proposed Coimbatore-Kochi Industrial Corridor, opening up huge capital outlay.

KOCHI AT THE TOP

Researchers testify that Kochi stands at the top among the cities in Kerala in overall growth and progress. Equipped with the finest infrastructural, healthcare, educational facilities and job opportunities in the State, the city is also blessed with a salubrious climate that makes it the favourite residential destination in Kerala. Kochi is also the best place to invest in property, as alluring returns are guaranteed.

The second-phase development of the Info Park and the advent of Smart City are expected to translate into creation of employment opportunities for the highly-skilled human resources base of the State. This will drive the city's growth, bringing in high-earning technology professionals and businessmen to the mainstream of activity.

With a slew of development projects on the anvil, the city is expanding on all fronts and the Government is considering a Metropolitan Development Authority for organised development of the city.

All these developments contribute to the flow of capital and enterprise to the city, paving the way for growth in the realty sector, auguring good returns for the investor and the home buyer, he added.

Mr Mohammed Saleem, Managing Director, Asset Homes, which bagged the best stall award in the show, said that they had received around 1200 reasonable enquiries for its various projects in the city, and the company expects that around 25 bookings can be realised out of it. The buyers' mood, he said, is reasonably good this time, as they are more serious regarding investing with reliable brands, especially in the wake of recent scandals involving some builders in Kochi.

This has led to a situation where the customers are looking for builders who meet delivery schedules on time. According to Mr Raveendran, the Kochi chapter of CREDAI Kerala is also actively involved in CSR activities, which include Clean City Movement, a non-profit Non-Governmental Organisation venturing into activities for the upgradation of civic amenities in the city. Its activities comprise an eco-friendly solid waste management system in high-rise apartments and gated colonies, with a focus on health, hygiene and safety measures.

CREDAI Kerala also conducts a medical camp for the labourers on site to ensure the fitness of migrant labourers. The camp provides medical support and insurance while they are working.

This was a joint project with the Rotary Club of Cochin Metropolis, and CREDAI Kochi made a great impact when more than 118 workers were examined for general health, dental and eye check-up.

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