PROPSHOP 2002

Chennai's biggest property event - PropShop 2002 has come back and this time it is bigger and better.  PropShop this year has brought together thirteen property developers from Chennai and Bangalore, offering customers a choice  from over 5000 properties across these two cities.  It is being held over three days from January 10th to 12th at Rani Meyyammai Hall. Alacrity Housing, Chaitanya Builders, DBS Properties, Doshi Housing, Jain Housing, Kishorkumar Gokuldas, Sreyas are some of the developers participating in this event. On offer are properties ranging from Rs 5 lakh to Rs 1.5 crore.

PropShop, which is being held in Chennai for a record fifth time, provides a perfect opportunity for the customer to identify property, get advice on financing options and complete the purchase transaction in all respects.  The event is positioned as a platform for detailed interaction between customers and developers to help the customer make an informed decision.   The last time PropShop was held at Chennai in 1998, Rs 40 crore worth of properties was sold.

Sarvesh Sarup, Head,  Global Consumer Bank, Citibank India spoke about Citibank's association with housing finance in India for over a decade  now and promised to  make PropShop a regular feature of the Chennai calendar.  Speaking about the success of PropShop he said, "PropShop is based on what we call the 4 C's - Credibility, Choice, Credit and Convenience.  Credibility of the companies, the customer has to deal with.  A wide variety of Choice.  Credit in the form of attractive financing options and Convenience in the sense that the whole process of buying a home is made easy.  That has paid off and today after almost a decade since the first PropShop was held and after thirteen editions of it, over 5,000 customers have bought their homes at PropShop".

Shelters, an associate of Citibank have been conducting PropShop for nearly a decade now.  K Mahalingam, Managing Director, Shelters, highlighted the key benefits of PropShop.  "PropShop offers a wide range of properties and loan options under one roof to enable the search for property and financing to be completed on the same day.   There are specially designated meeting areas, vehicles for site visits and 'On the Spot' sanction of home loans, all aimed to help quick decision making.  PropShop also offers customers a range  of attractive offers on purchase of property during the event.  These range from  free air-conditioners to waiver  of interest on loan till possession to price discounts from participating developers".

The past few years has seen a dramatic change in the housing scenario with real estate prices coming down to realistic levels and attractive financing options like never before.  The average  age profile of the buyer has come to  below 30 and the loan tenures have been increasing.   The cost of borrowing has decreased and repayments on home loans receive attractive tax incentives.  This has made owning a property a more attractive option than having to live in a rented property.   It is against this background that this year's PropShop promises a lot to the customers, developers and financiers.

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