The market for real estate in India will grow five-fold to $60 billion by 2010 and $90 billion by 2015, the Dubai-based organisers of a major realty fair in the capital said on Saturday.
NEW DELHI: The market for real estate in India will grow five-fold to $60 billion by 2010 and $90 billion by 2015, the Dubai-based organisers of a major realty fair in the capital said on Saturday.
"The Indian real estate market has emerged as one of the most attractive options to invest in international markets," said Satish Khanna of Al Fajer Information and Services, the organisers of Asian Real Estate Show 2007.
"In mature markets of advanced countries, developers can at best hope for 5-7 per cent return. But in India, real estate investment yields are in the range of 20 per cent," he said on the margins of the three-day show that started on Friday.
Some of renowned developers from the United Arab Emirates, including Al Fajer Properties, the Damac group and Star Giga and Best Homes are participating in the fair that is also focusing on issues like sustainable urban development, finance, marketing, architecture and environment branding through seminars and workshops.
Besides UAE and India, the exhibitors have also come from countries like the US, Spain, Singapore and Malaysia. They are looking at opportunities in hotels, malls, healthcare, housing, IT parks and integrated townships all over the country.
According to Al Fajer, the rapidly growing real estate market in India is moving towards maturity with increased participation from both local and global players to raise investor interest and a market-friendly approach.
"The government's decisions to allow 100 per cent foreign investment and entry of venture funds will to add to the growth momentum created by affordable financing options and rising disposable incomes," Khanna said.
"Further, there are indications that obstacles such as the absence of investment instruments in real estate are likely to be removed."
Khanna also said that since India has also allowed real estate mutual funds to be floated, it will eventually pave the way for the setting-up of real estate investment trust or similar structures to fuel growth further.
The main purpose of the fair was to help global developers understand the Indian market before taking final decisions since the size and exposure of investments would be large.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}