Property Show expected to generate $54bn
Dubai, June 13, 2012
The Indian Property Show set to be held this month at Dubai World Trade Centre is expected to generate business worth $54 billion, with Indian property developers hoping for higher investments from expatriates after the rupee slide against the US dollar and dirham.
The 10th edition of the event is scheduled to be held from June 21 to 23, and will have over 70 developers displaying over 300 projects from across India.
With an expected footfall of 15,000 interested buyers, the show will have leading developers from India including Mantri Developers, Nirmal Lifestyle, Hiranandani, Ansal API, Ireo, Amrapali, Brigade Group, and Investors Clinic-India’s leading real estate consultancy, Assetz Homes, Sobha Developers and leading banks.
Sunil Jaiswal, CEO, Sumansa Exhibitions, organisers of the event, said: “The magnitude of this exhibition has grown immensely and we are grateful to all our exhibitors, partners and visitors who have trusted this platform to be the best way of finding and selling properties.”
“This year the focus has shifted on affordable properties as Union Budget has allowed external commercial borrowings which will allow liquidity to the builder. The homes are expected to be affordable on the outskirts of the tier one cities. At the same time property prices in metros and tier one cities are expected to go up due to additional burden of service tax and excise duty.”
“The good news is that with recent reduction in interest rates home loans will be cheaper and depreciated rupee will tilt the balance in favour of NRI’s. The momentum of Indian property will be kept going on by NRI’s for whom the current scenario is conducive as long as investment in tier two and three cities are concerned.”
Honey Katiyal of Investors Clinic, one of the prime exhibitors and sponsors of the show, said: “The Indian Property Show has been a spring board for us to establish ourselves as a leading real estate agency for NRI’s in UAE. In just 6 months of our operation we have witnessed 20 per cent increase in demand for Indian properties and interacted with more than 1,000 NRI families.”
“We strongly believe that the show will once again prove beneficial for us in attracting potential buyers. With rupee depreciating we expect lot of queries to be converted in actual sales especially for Delhi-NCR, Mumbai and Bangalore.”
The exhibition also features property and investment seminars by some of the most influential property industry gurus, international fund managers, and legal advisers, a statement from Sumansa said.
This year’s seminars aim to guide the buyers on the booming real estate markets within India along with the benefits of investing now.
The seminar will further talk about the upcoming projects and infrastructural development that the cities will witness making them a lucrative option to invest. Some of the cities in focus are Mumbai, Pune, Bengaluru, Chennai, Gurgaon, Noida, and Kochi.
Apart from the informative seminars, the show has added a new feature, Property Spotlight, taken by Ireo, wherein a model of the exclusive project is displayed at the entrance of the exhibition hall, the statement said.
Another new feature, Property Dhamaka, brings exciting and unbeatable offers from participating developers that include discounts, holiday packages for families, free property registrations for on-the-spot bookings, it said. – TradeArabia News Service