70 top developers at India property show
Dubai, December 15, 2011
Seventy of India’s top developers are taking part in the Indian Property Show that opened today (December 15) at Airport Expo Dubai and will run until Saturday.
Inaugurated by chief guest Sultan Butti Bin Mejren, director general, Land Department, Government of Dubai, the show is expecting to draw up to 15,000 visitors, said organisers Sumansa Exhibitions.
“Our endeavour and core strength has been to create a convenient interface between millions of NRI’s in UAE and developers in India,” said Sunil Jaiswal, CEO, Sumansa Exhibitions.
“We aim at helping the NRI’s here to make the property purchase process seamless thereby enabling them to nurture the earnest desire to own a property back home. Indian Property market is a hot investment option even today and the sentiment is echoed by all the developers back in India as the enquiries and purchases by NRI’s have kept on increasing. This is even after the interest rates on home loan have gone up. Residential property demand will remain strong because of the strong business climate, plus the depreciating rupee that is catching NRI’s fancy.”
“Big cities such as Delhi and Mumbai are still offering good returns but smaller, satellite cities such as Pune, Gurgaon and Noida have emerged as key destinations for investments,” added Jaiswal.
“Rupee’s sharp decline against the dollar has made homes in India increasingly cheaper in dollar price terms, creating opportunities for those living and earning overseas, particularly Gulf where currencies are pegged to dollar,” said Honey Katiyal, CEO Investors Clinic.
“Add the 10-15 per cent discount that builders offer on down payment and the effective price for an NRI buyer drops by more than a fourth. Little wonder then, NRIs have been looking at homes back home with renewed interest, reflected in their rising share in the domestic real estate market.”
“Depreciation of rupee will not be the only reason to bring in the NRIs to Indian real estate investments. Mammoth scarcity of housing units/ business space, virtually untapped growth potential of Indian economy, need for investment of trillions of dollars in all sectors, i.e., infra, healthcare, power, water, hospitality, education, services will be the drivers for growth of Indian economy,” said Kapil Goyal, general manager International Sales, Nirmal Lifestyle.
“With such growth potential, India will be an ideal investment destination in decades to come with best of class returns on mid-term and long term investments.”
The show will feature an event entitled Property Dhamaka - where one can find exclusive, exhibition-only promotions on properties from leading developers.
Free Seminars on Property Investing, Realty in India and Vaastu will offer industry insights.Visitors can avail home loans from the participating banks at the show such as HDFC, AXIS Bank and Kotak Mahindra. The show will have an exclusive pavilion for CREDAI Maharashtra, which will showcase diverse range of properties from the state.
The Indian Property Show is set to showcase 300 projects worth $5 billion and expected to generate $51 million worth of business, organisers said. – TradeArabia News Service