India Real Estate - Gallop, Gallop Baby

By: addi vardhaman

With the advent of LPG (liberalization, privatization and globalization), the definition of construction and development sector in India has been changed from location specific to reputation specific. Driven by the feel good elements in the Indian economy, this segment is booming. The boom is attracting interest from foreign majors. They are investing as this segment of the Indian economy is now a safe investment destination.

The presence of international majors has ensured constant supply of capital which is absolutely necessary for the large scale of development for the development of infrastructure. In the year 2006, the Government of India provided fresh impetus to the construction and development sector by allowing 100% foreign direct investment (FDI) under the 'automatic route'. This step has spurred investment in the vital infrastructure sector.

Total investment required for the Indian real estate sector in the tenth plan period, has been estimated to total Rs 1,108,800 crore, approximately. The committee on infrastructure, headed by the Prime Minister has come up with a figure of Rs. 1, 72,000 crore as the estimated amount to be invested in the National Highways Sector (NHAI and golden quadrangle) by the year 2012according to the statistics of the Economic Survey (2005-2006), India, in the next five years will attract as much as US $ 150 billion of FDI in the real estate sector alone.

According to the survey of the global real-estate consulting group Knight Frank, India is the 5th in the list of 30 emerging retail markets. This survey has also predicted an impressive 20% growth rate for the organized retail segment by 2010.

Thus, undoubtedly the is lined up for a complete revolution. This revolution is not restricted to the metros but has already seeped into interiors and smaller metros and new towns and cities like Kochi, Bhubaneswar, Ranchi, Nasik and Bhopal. Moreover, this expansion is also not confined to a particular sector but will encompass residential, commercial, infrastructure and logistics. Indian real estate market growth momentum is perfectly carried away by the . This growth is expected to accelerate in the coming days.

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