Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 6 hours, 15 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Property prices in India to rise by 30%
BY IMRAN MOJIB December 08, 2017
 Print    Send to Friend

DUBAI: The present moment is a good time to invest in real estate in India keeping in view that the average rate of growth in prices has been more than 20 per cent per annum historically and likely to rise to as high as 30 per cent per annum, said Jaxay Shah, President of Credai, apex body of private real estate developers in India.

“Markets like Mumbai, Pune and Bangalore enjoyed appreciation in prices of around 15 per cent over the last one year. There is good news from smaller towns as well. Kochi is witnessing appreciation of more than 25 per cent annually as we speak. On the macro front too, the growth rate of the real estate industry is quite intact. The sector grew at a constant annual growth rate of 19 per cent over the last decade. The contribution of real estate to India’s GDP which stands at 6.3 per cent today is projected to increase to nearly 13 per cent by 2025,” he said.

Shah was speaking after inauguration of the first Credai’s Indian Property Show in Dubai on Thursday. The show was opened by Director General of Dubai Land Department Sultan Butti Bin Mejren, Consul General of India in Dubai Vipul, Deputy Chairman of the NRI Forum Karnataka Dr. Arathi Krishna, and Bollywood actor-producer Arbaaz Khan.

Participated by more than 200 Indian property developers, the three-day show displays more than 1000 residential and commercial projects across 14 states and 60 cities.

Reiterating the sentiment, Prestige Group’s Senior Vice President (Sales) Shub Ganguly added, “Going forward, factors like rapid urbanisation, increased migration to cosmopolitan and Tier 1 cities, and the government’s focus on infrastructure and affordable housing will give the required impetus and push to the real estate sector.”

“The optimism on the back of the reforms has infused trust in the sector among NRI realty buyers and we foresee a prolific growth in the industry in the long run,” said R. Srividya, General Manager of Indian Property Show.

It is first ever large international exhibition where properties starting from Indian Rs1.5 million and above are being showcased. Projects to suit every budget and requirement are available to fulfil the dreams of millions of NRIs in the UAE.

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
Indian realty in revival mode, say experts
Dubai: The realty market in India seems to have shaken off the impact of demonetisation by registering sales growth and now showing signs of revival. Optimistic on the gr..
Delhi hosts business, technology conference
NEW DELHI: India’s Human Resource Development (HRD) Minister Prakash Javadekar inaugurated ‘Infocom 2016’ - India’s leading business, technology and leadership conference..
Milagrow unveils new product in Indian market
NEW DELHI: Indian consumer robot maker Milagrow on Friday launched the country’s first full wet mopping and dry cleaning, floor vacuuming robot with the world’s largest s..
ME healthcare conglomerate enters Indian industry through acquisitions
New Delhi: VPS Healthcare, a healthcare conglomerate in the Middle East, has entered the Indian healthcare industry by acquiring majority stakes in Rockland hospitals in ..
More NRIs investing in real estate sector
Dubai: More than 40 per cent of the NRIs living in the UAE prefer to buy Indian property as an investment, whether for the first time or as an additional asset. As per th..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright