Real estate boom to mark another milestone in 2007

December 31, 2006	(Be the first to rate this story!)  Loading ...
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Thanks to the magnetic charm of Indian real estate that the booming sector has again fastened its seat belt to make another mark. As per the data showcased by studies conducted by Assocham (Highest body of the Chambers of Commerce of India), the property market is likely to attract foreign investments worth Rs 8,000 crore in 2007.

Transparency and the improvement shown by the real estate sector in 2006 have impressed most potential international investors who are waiting to establish their presence in the Indian property market, say the industry body.

The sector would provide high quality employment opportunities which are likely to benefit a large fraction of the job seekers in these areas. This underlines the growing capacity of the market that would continue to show its mettle in 2007. Moreover, factors like easy availability of finance, increasing urbanization, rising income levels are believed to be the key drivers contributing the growth.

Assocham forecasts that the realty sector would grow from 12 billion dollars in 2005 to 90 billion dollars by 2015. With lots of investors pumping in Indian real estate, the demand for property is boosting at its best. Despite the odds weighing heavily against the bubble, foreign investors are lining up.

Renowned conglomerates such as Royal Indian Raj International, Blackstone, Goldman Sachs, Emmar Properties, Pegasus Realty, Citigroup Property, Lee Kim Tah Holdings, Salim group, Morgan Stanley and GE Commercial Finance are showing large interest in bringing substantial foreign capital into India.

News Published Under:   Real Estate India, Real Estate Developers |

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