Rupee and Rules spuR nRI mood
India realty expects 30% growth as market size set to hit $180 billion by 2020
dubai — Indian Property Show opened at Dubai International Convention and Exhibition Centre on Thursday amid positive non-resident Indian investment sentiment spurred by a weakening rupee and expectations of a realty boom sparked by the investor-friendly Real Estate Regulation Bill.
Majid Saif Al Ghurair, chairman of Dubai Chamber of Commerce and Industry, inaugurated the three-day show at Hall No 6 of Dubai World Trade Center. The show is open to visitors between 11:00am and 8:00pm until Saturday with free entry and provision for free parking.
“The weaker rupee and the recent approval of the real estate regulation bill 2013 are expected to renew the NRI interests further and propel the real estate investments. The bill is a pioneering initiative to protect the interest of consumers, to promote fair play in real estate transactions and to ensure timely execution of projects”, said Sunil Jaiswal, president, Sumansa Exhibitions, organisers of Indian Property Show.
“It has been predicted that by 2030, Indian cities will be home to 800 million people. Which means 70 per cent of India’s total population will live in cities. To accommodate the demands of an urban expansion of such a speed, Xrbia’s mission is to build ‘100 new cities by 2030”, said Rahul Nahar, founder of Xrbia. Speaking on the impact of this bill on NRI investment, Sakshi Katiyal, Chairperson Home & Soul adds NRIs look for safe and profit driven investments. NRIs go through a number of hassled procedures to achieve the same. The buyer-seller transparency is surely going to vitalise the number of investments in future resulting in the next Real Estate Sector boom.
“NRI Investments will get a boost as a result of the bill as it will bring in lot of transparency. The application of RERA will regulate many key concerns related to quality, timely delivery, pricing etc”, said Nagraj Nallu, director at Newage Realty.
Ashwinder Raj Singh, CEO - Residential Services, JLL India, said: “Regardless of its speed of growth, the fact remains that the Indian real estate sector is a dynamic one, and that long-term investments into it will pay off very well as long as the investment decision is sound. “The sector is ex- pected to grow at 30 per cent over the next decade across the housing, retail, hospitality and commercial verticals. The market size is expected to touch $180 billion by 2020.
Singh said Indian real estate is a hot investment proposition. “As inventory has piled up in the two major cities of Delhi (the political capital) and Mumbai (the financial capital), customers can currently expect to get good bargains in these markets, as developers are offering discounts and attractive financial schemes like 20:80, 30:70, and 10:80:10.” The advantage that UAE-based NRIs (by far the largest contingent) have is that they earn in Gulf currencies that have traded strongly against the Indian rupee. This factor offsets a part of the house cost already.” Vasundhara.S., director -Marketing & Sales, Solitaire Business Hub, said Pune is the second most preferred market for UAE based NRI investors. “This is the best opportunity to invest in commercial real estate in Pune. With double the ROI compared to residential any smart investor would peg his repatriation value at bankable ROI’s which commercial real estate offers up front.”
A spokesman of Godrej Properties said it brings the group philosophy of innovation and excellence to the real estate industry. “Each Godrej Properties development combines a 118 - year legacy of excellence and trust with a commitment to cutting-edge design and technology. Godrej Properties is currently developing residential, commercial and township projects spread across 10.10 million square meters.” Widest choice of properties from across India is on display by more 150 developers from all over India. There are four regional pavilions alongside a special CREDAI Maharashtra section. The show brings you properties from Delhi, Noida, Greater Noida, Gurgaon, Jaipur, Kolkata, Goa, Ahmedabad, Mumbai, Navi Mumbai, Pune, Chennai, Coimbatore, Hyderabad, Bengaluru, Mangalore and many more cities. Some of the participating exhibitors at the show are Home & Soul Ingrates, Xrbia Developers Ltd, Newage Realty, Hiranandani, JP Infra, Kalpataru, Kanakia, Lakhani Developers, Lodha Group, Mantri Group, Paradise, Wadhwa Group, Saya Homes, Antriksh Group, Covai Property Centre (I) Pvt Ltd, Poomalai Housing, Artha Properties, Ansal Housing, SuvilasProperties, Ozone Group, ShapoorjiPallonji, Rachana Lifestyle, Investors Clinic, ICICI bank among many others.
The show also feature free, interactive and informative seminars on all three days from 1:00pm – 8:00pm These seminars aim to guide buyers on the booming real estate market and help answer questions like investment opportunities, property hot spots, where to invest and why, property trends and outlook etc. There are also seminars focusing on Vastu and legalities. Top rated lawyers from key Indian cities would be present at the respective regional pavilion.
Visitors at the Indian Property Show are entitled to get free advice on any of their property related matter whether it is for new property purchase; concerns related to existing property, tenancy laws etc. Besides guidance on real estate matters, there will also be informative and educative “Legal Seminars” by leading advocates from the different regions across India.
Show’s “Property Dhamaka” feature offers exclusive deals and discounts, including attractive EMI and down payment options for on-the spot bookings.
Recent approval of the real estate regulation bill 2013 is expected to renew NRI interests
Sunil Jaiswal,
President of Sumansa Exhibitions