A continuing crash in loan rates, better tax break, higher salaries, an impending IT takeoff and a bigger basket of product options in and around the city have combined to inject a never-before buoyancy in the real estate sector, to be showcased at an extended ‘Home Front 2004’.

The 10-day exposition (September 10-19) has been shifted to the Maidan from the usual venue of Netaji Indoor Stadium to accommodate the 40 per cent increase in the number of participants this year.

More than Rs 3,000 crore worth of properties will be on offer, an increase of around 400 per cent over last year.

Organised by CREDAI (Confederation of Real Estate Developers’ Association of India)-Bengal with G.S. Marketing Associates, the fair will house 450 stalls, covering different segments of the industry. Exclusive air-conditioned hangars will be devoted to separate exhibitions and will be co-promoted with the leading association in the segment involved. The event sponsors are HSBC, the Ramsarup Group and Omega Elevators.

“Such a massive exercise is being held for the first time in the country,” declares Pradip Chopra, honorary secretary, CREDAI-Bengal.

The participants will include real estate developers, housing finance companies, building and allied industries, décor and furniture, white goods, lifestyle and fitness items, communications and a special wing for toys and writing instruments for children.

The developers’ forum expects “at least a thousand flats” to be booked at the fair, compared with around 200 last year, on the back of incentives like 24-hour funds release by banks and spot-buy benefits.

“The sheer variety of products on the table (around 150 projects are being hawked), including those in Rajarhat, should see a much better performance this year,' hopes Jugal Khetawat, forum president.

“The pace of activity in the real estate sector has really picked up of late and large-format developments have started coming up all over the city and its fringes. Projects spread over two to three lakh sq ft are not unheard of these days, while earlier, a 50,000-sq-ft project was considered big,” says CREDAI all-India vice-president Santosh Rungta.

He is confident IT will play a huge role in boosting real estate growth in the city soon, just as retail and the food trade has been doing now. As an indication of the bullishness in the infotech sector, a number of IT parks will also be on exhibit at the fair, including Millennium City, set to play host to the much-awaited IBM entry in the city. “In fact, the IBM deal can also be considered an offshoot of the Home Front only,” smiles Rungta.