TNRECA conducts RECON in Chennai

TNRECA (Tamilnadu Real Estate Consultants Association), along with Anarock Property Consultants as Knowledge Partner, hosted a power-packed ‘RECON 2019’ – first edition of their annual conference that aims to bring together the real estate developer fraternity and the RERA Registered Agents who are the professional property consultants in the State with a primary objective of making Tamil Nadu a key investment destination.

The event was presided by the Chief Guest S Krishnan, IAS, Principal Secretary to Government, Housing & Urban Development Department and The Chairman, TNRERA. Other guests at the inauguration included Ajit Kumar Chordia, President, CREDAI Tamilnadu, W.S. Habib, President, CREDAI Chennai, Anuj Puri, Chairman, Anarock Group and Ranjeeth Rathod, Managing Director, DRA Homes (Chennai). Joy Britto, President- TNRECA said,

Chennai’s ability to respond to various external and internal influences maturely and agilely have worked well for the city. Having already beaten considerable odds, Chennai now draws on its inherent economic strengths of rising exports of its IT/ITeS and automobiles industries. Chennai’s economy, banking on the automobile, manufacturing and IT-ITeS sectors, yielded an estimated GDP of USD 78.6 billion in 2018. The city contributes 14% to the country’s IT services, making it the second largest exporter. It also hosts 40% of the automobile production in the country.

Hundreds of participants from various developers, sales and marketing professionals, and RERA Registered Agents from the state have participated and shared their experience and best practices with the speakers. The conference featured discussions on a range of topics pertaining to the real estate industry. The conference also honoured the fraternity with the RECON 2019 awards. Anuj Puri, Chairman – ANAROCK Property Consultants said,

Residential supply and absorption in Chennai were relatively balanced till 2015. Thereafter, housing supply dropped due to natural calamities, political ambiguity and the overall economic upheavals in the country. The current trend of softening average property prices is generating increasing end-user demand. The growth of Chennai’s residential market rests on a sure foundation of controlled supply dominated by affordable housing coupled with bottomed-out property prices. Software as a service (SaaS) and automobile sectors now drive the bulk of residential demand in Chennai.

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