According to a senior executive of HDFC , the market leader in home loan lending, the Coimbatore realty market's growth momentum is next only to that of Chennai and Hyderabad in the South, and ahead of other tier - II cities in the region.
At HDFC's 3-day property show ‘Namma Veedu', which held on recently in Coimbatore. The company expects to generate at least 50% more business volume compared to last year's edition. Above 25 developers are participating this year (2012)
Mr. Mathew Joseph, Senior GM and Regional Business Head, Tamil Nadu & Andhra Pradesh, HDFC, said,'' Chennai said that in metros or A-grade cities a cross the country, housing demand has plateaued due to reasons such as investors turning cautious, rising interest rates, and pricing pressure. But tier II cities like Coimbatore presented a different picture, with the prices remaining firm. The smaller cities are also witnessing a boom in industrial development, and with more people arriving on jobs the housing demand has remained stable. Moreover, as the demand was driven not by ‘investors' but actual end-users, house prices remained steady without any sudden spike or fall"
Mr. Mathew Joseph, also said, ''This was beneficial to lenders too, as actual users ensure a stable business environment by servicing their loans for a longer period unlike investors, who enter and exit the property market driven by profit calculations."
Mr. S.Ramesh Kumar, DGM and business head-Southern Tamil Nadu, HDFC, Coimbatore, said,''About 7,000 flats, villas and bungalows priced from Rs. 20 lakh to almost Rs .3 crore were on offer at the show. The show was to generate about 30-40% more business than last year".
Mr. Mathew Joseph added, ''Tthe Coimbatore housing market offered the highest business potential for HDFC after Chennai and Hyderabad in his jurisdiction. The city accounted for a 20% growth in housing loan demand, closely followed by Kochi
News and Photo Source: Hindu
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| ." Mathew Joseph, and Ramesh Kumar of HDFC - Namma Veedu |
At HDFC's 3-day property show ‘Namma Veedu', which held on recently in Coimbatore. The company expects to generate at least 50% more business volume compared to last year's edition. Above 25 developers are participating this year (2012)
Mr. Mathew Joseph, Senior GM and Regional Business Head, Tamil Nadu & Andhra Pradesh, HDFC, said,'' Chennai said that in metros or A-grade cities a cross the country, housing demand has plateaued due to reasons such as investors turning cautious, rising interest rates, and pricing pressure. But tier II cities like Coimbatore presented a different picture, with the prices remaining firm. The smaller cities are also witnessing a boom in industrial development, and with more people arriving on jobs the housing demand has remained stable. Moreover, as the demand was driven not by ‘investors' but actual end-users, house prices remained steady without any sudden spike or fall"
Mr. Mathew Joseph, also said, ''This was beneficial to lenders too, as actual users ensure a stable business environment by servicing their loans for a longer period unlike investors, who enter and exit the property market driven by profit calculations."
Mr. S.Ramesh Kumar, DGM and business head-Southern Tamil Nadu, HDFC, Coimbatore, said,''About 7,000 flats, villas and bungalows priced from Rs. 20 lakh to almost Rs .3 crore were on offer at the show. The show was to generate about 30-40% more business than last year".
Mr. Mathew Joseph added, ''Tthe Coimbatore housing market offered the highest business potential for HDFC after Chennai and Hyderabad in his jurisdiction. The city accounted for a 20% growth in housing loan demand, closely followed by Kochi
News and Photo Source: Hindu
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