Coimbatore Nov. 24
As the second largest and one of the fastest growing cities with high growth potential, Coimbatore needs a Development Authority on the lines of CMDA (Chennai Metropolitan Development Authority) to fast track the development of residential and commercial projects in the city without any delay, Rajesh B. Lund, President, CREDAI, Coimbatore, said here on Friday.
Speaking at the inauguration of FAIRPRO 2017, an annual official property exhibition of CREDAI, Mr. Lund pointed out the imperative need for having a single window clearance system for speedy approval of residential and commercial projects.
While terming the Real Estate Development Authority Law with provisions to regulate real estate sector in the country as a positive development, Ajith Kumar Chordia, President CREDAI, Tamil Nadu, called for imminent measures to make existing approval delays a thing of the past.
FAIRPRO 2017, which saw the confluence of property developers, financial institutions and customers, was inaugurated by Dr. Beela Rajesh, Commissioner of Town Planning Authority (TPA) of Tamil Nadu, and Dr. K. Vijaya Karthikeyan, Coimbatore Municipal Corporation Commissioner.
In responding to the demands of CREDAI, Dr. Rajesh said that the significance of self- regulation on the part of private players in the real estate sector gave it potential to create a win-win situation for them and customers alike.
“Events like FAIRPRO should not be confined to cities like Coimbatore, but also become the focus of rural areas”, she added.
Dr. Vijaya Karthikeyan, called upon property developers to encourage the use of bio- compostable bags among the occupants in their housing units.
Shedding light on the progress made in the preparation of Master Plan for the city, he said that the Integration of Lake Redevelopment Project, one of the significant components of the Smart City Project in the Master Plan of the city was gathering steam and would soon turn a reality.
With the Union government pushing for affordable housing through the Pradan Mantri Awaas Yojana, role of private players assumed much significance, according to Omkar Sankar, Sankar Foundation Private Limited, and a CREDAI, Coimbatore, member.
Like its previous editions, more than 100 commercial and residential projects were on display in the 35 stalls set up by members of CREDAI, Coimbatore, at the FAIRPRO 2017. The exhibition will be on till November 26 at Hall 'A' of the CODISSIA Trade Fair Complex.