the changing face of india property investment
News Posted On: 03 September 2009
India property investment has changed as developers and investors realise that the growing Indian middle class will provide growing demand and price growth far more reliably than foreigners, writes Les Calvert
Chennai has overtaken Bangalore as the most popular place to invest in property in the south of India, according to a new survey of 3000 respondents taken by India Real Estate Monitor. Mumbai is the most popular.
I was very shocked by this, but feel that it shows just how badly the credit crunch has affected India's IT and Electrical export sectors. When I read about Bangalore being the Silicone Valley of India, at a time when the Microchip and similar products were the most sure of growth in all the world of exports, then Bangalore, who could produce them cheaper than anywhere else looked set to be at the forefront of this growth.
Developers from India and around the world cottoned onto this, and did what they did across India; built developments aimed at the international buyers, rather than building the kind of housing that would be bought by middle-class Indian's, where the greatest growth in demand was and would for a long-time come from.
Now they are all falling over themselves to build affordable housing, and this change towards investing in Chennai is the investors also catching up to the best investment strategy for Indian property.
View India property for sale
View overseas property for sale
Back to news articles for this country
Latest Related News Articles in India
Outlook for Indian Property Is Good
2011-08-24
Demand for residential property in India is expected to remain high, even though the market is unlik.....
Information Technology and the Property Market in Bangalore
2011-07-08
The rapidly expanding information technology sectors in Bangalore are having a significant effect on.....
All Sectors of Indian Property Market set to Thrive
2011-05-11
It's estimated that the Indian economy will continue to grow at around 8% to 10% each year, and that.....
Property Prices in Mumbai Still Soaring
2011-04-15
Property prices for luxury homes in Mumbai have risen by almost 20% which is the second highest rate.....
Strong Growth Predicted in India Property Market
2011-02-04
A recent study into the Indian housing market forecast strong growth due to the country's rapid econ.....
Affordable Housing in India Looking like a Good Investment
2011-01-14
Residential property prices in India fell by 25 to 30% from their previous highs in 2008 but have no.....
India Property Investment on the Increase
2010-12-28
Soaring residential demand in india is triggering rising investment.....
Indian Economy Up 8pc Year on Year in Q2
2010-09-01
Indian GDP grew 8.8% in the second quarter of this year compared to last year.....
Indian Property Market Enters Growth Phase
2010-05-06
All the signs point to the next 5 years being a time of massive growth in the Indian property market.....
India Property Prices to Grow 12 to 15 pc This Year
2010-03-29
Knight Frank and Citi bank research has found a high probability of major price increases in prime s.....