Indian Realty Market Estimated at $60 bn by 2010

On Saturday, the leading organisers of a major realty fair in Delhi said that the real estate India market will grow five-fold to $60 billion by 2010 and $90 billion by 2015.

Satish Khanna of Al Fajer Information and Services, the organisers of Asian Real Estate Show 2007 said,"The Indian real estate market has emerged as one of the most attractive options to invest in international markets."

He added,"In mature markets of advanced countries, developers can at best hope for 5-7 percent return. But in India, real estate investment yields are in the range of 20 percent."

Some of renowned developers from the United Arab Emirates, including Al Fajer Properties, the Damac group and Star Giga and Best Homes are participating in the fair that is also focusing on issues like sustainable urban development, finance, marketing, architecture and environment branding through seminars and workshops.

From the United Arab Emirates, a few renowned developers including Al Fajer Properties, the Damac group and Star Giga and Best Homes participated in the fair. The main issues in the fair were sustainable urban development, finance, marketing, architecture and environment branding through seminars and workshops.

The exhibitors came from various countries of the worlds like US, Spain, Singapore and Malaysia including UAE and India.The opportunities in hotels, malls, healthcare, housing, IT parks and integrated townships all over the country were the main focus for these countries.

Al Fajer Information and Services, the leading organizer of the realty show said, "the rapidly growing real estate market in India is moving towards maturity with increased participation from both local and global players to raise investor interest and a market-friendly approach."

Khanna added,"The government's decisions to allow 100 percent foreign investment and entry of venture funds will to add to the growth momentum created by affordable financing options and rising disposable incomes. Further, there are indications that obstacles such as the absence of investment instruments in real estate are likely to be removed."

He also added, "Since India has also allowed real estate mutual funds to be floated, it will eventually pave the way for the setting-up of real estate investment trust or similar structures to fuel growth further."

The main purpose of the fair was to help global developers understand the Indian market before taking final decisions since the size and exposure of investments would be large.