india property investment on the increase
News Posted On: 28 December 2010
Mumbai and Delhi are popular property investment areas in India and II-tier and III-tier cities are experiencing an increase in demand for residential properties.
In Mohali, Ludhiana, Derabassi, and Amritsar, and Chandigarh, developers have begun to construct housing projects that are anticipated to draw in investors abroad seeking to capitalize on affordable prices.
Among other cities, Omaxe has development plans to include a 40 residential township projects in Tier-II and Tier-III cities such as Uttar Pradesh, Punjab, Madhya Pradesh, Rajasthan and Haryana. Gurgaon is an additional city that developers plan to construct a residential project and in doing so would be the first residential project in the national capital region (NCR) for Godrej Properties.
In the northern India belt a 40 percent increase has been observed in the price of the residential sector. As a result, there is a greater demand and property investors are becoming more and more interested as the economy continues to build momentum as well.
According to research by PricewaterhouseCoopers and Urban Land Institute, India is the leader of the pack as top real estate investments for Asia for 2010 as foreign investors continue to value the property market and its returns. Mumbai and New Delhi are the most sought after locations and have been gaining momentum in the property market investment area. Real estate development potential is promising with opportunities in retail, apartment, and industrial sectors. With an anticipated GDP growth of 9 – 10 percent by 2015, India’s investment forecast is looking good.
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