In the past year, Trichy real estate developers have seen a 25% rise in inquiries for properties—mostly apartments in the city and its surroundings. Even if completed projects were completely sold out, the increase in demand for apartments has prompted real estate developers to try creating luxury units in upscale neighborhoods. At the three-day property show organized by the Trichy chapter of the Confederation of Real Estate Developers’ Associations of India (Credai) at Kalaiarangam Hall from Friday, real estate developers expect sales of homes to surpass Rs 30 crore.
Up to 24 of the 54 builders connected to the Credai Trichy chapter are involved in 50 current and upcoming residential projects in the suburbs and city. There are from 8 to 200 residential units in each of the projects. Since the Covid-19 epidemic, real estate developers claim that as the work-from-home lifestyle has persisted, people have realized the value of owning a home—especially in their hometown. According to Credai Trichy staff, the sales pattern suggests that individuals in oversaturated areas are shifting from single-family homes to flats. “To live a safe existence, people—including senior citizens—are purchasing apartments in gated communities. Buyers prefer a stress-free living environment because civic upkeep in apartments will be covered by an association, according to V Gopinathan, chairman of Credai Trichy.
