CHENNAI: Despite the economic slowdown, there is a healthy housing demand in the suburbs, according to Sandeep Mehta, President, Tamil Nadu chapter of the Confederation of Real Estate Developers Association of India.
In an interaction after inaugurating the Construction, Architecture and Interiors 2013 exhibition, he said the suburbs to the South of Chennai particularly along the Old Mahabalipuram Road, up to Siruseri over 25 km from Adyar continues to be in demand. Similarly, along the GST Road, the NH 45, transactions continue to happen.
The critical factor is connectivity, if road and rail links are provided to the suburbs, affordable housing supply can take place. For instance, in cities such as Bangalore, improved connectivity is opening up areas up to 40-45 km from the city.
There has been an all round increase in prices – land cost, construction material costs and labour. Opening up new areas will help increase supply, he felt.
The Construction, Architecture and Interiors 2013 is an event for all segments of consumers, says Mehta. The exhibition is on till August 18.
With stalls exhibiting a range of products and services needed for the residential sector and individual home needs, the event will benefit customers and businesses.
On the second day of the event, leading industry representatives will talk on a range of emerging concepts and trends including green buildings, steel, kitchen and bathroom designing and concepts, new materials like uPVC and odourless paints.
Balaji K. Moorthy, President, Madras Cements, a Ramco Group company, the principal sponsors of the event, said it would help consumers understand the wide range of products and services available in the market. The construction industry is evolving continuously with new technology, products and services.