Indian Property Show starts on Tuesday
Filed on November 29, 2015 | Last updated on November 29, 2015 at 07.44 am
“The advantage that UAE-based NRIs [non-resident Indians] have is that they earn in Gulf currencies that have traded strongly against the rupee. This offsets a part of the house cost already.”
Indian expatriates in Dubai can look forward to spending their UAE National Day holidays by visiting the Indian Property Show, on December 1-3 at the Dubai World Trade Centre.
At the upcoming expo, besides researching for their dream home or ideal investment, visitors also stand a chance to win a one-BHK apartment in Mumbai worth Rs25 lakhs (about Dh150,000) at the exhibition. Moreover, they can expect to avail of great bargains, discounts and exclusive offers from over 170 participating developers, plus an opportunity to win two daily air tickets to India courtesy Jet Airways.
“The advantage that UAE-based NRIs [non-resident Indians] have is that they earn in Gulf currencies that have traded strongly against the rupee. This offsets a part of the house cost already. The government is in a mood of creating a buyer-friendly environment and the real estate sector looks promising for the next five years,” said Sunil Jaiswal, president of Sumansa Exhibitions, organisers of the Indian Property Show.
“Recently there has been a lot of action in the commercial sector with Mumbai locking in returns of 12 to 19 per cent per annum, Bangalore 11 to 12 per cent and Delhi-NCR eight to 10 per cent. Additionally, the government of India has announced a host of measures to spur the real estate sector, which include an allocation of Rs7,060 crore ($1.16 billion) for the development of 100 smart cities.”
“Also, the RBI [Reserve Bank of India] has cut the repo rate thrice in less than nine months, which has brought down home loan interest rates to 10.25 per cent. So it’s a good time to invest in the Indian Real Estate market.”
“Having travelled to many cities across the world including London, Durban, Hongkong, Singapore, Muscat and Doha, it gives me immense pleasure to announce that our 25th edition of this internationally-acclaimed exhibition will be happening in Dubai, the city where it was born in the year 2006. As this would also be our silver jubilee edition, we thought of making our upcoming expo more exciting for visitors by giving them a chance to own their home in their homeland,” he added.
Ashwinder Raj Singh, chief executive officer of residential services at JLL India, said: “The outlook is extremely bright owing to several factors that are now playing out. Firstly, the economy is on an upswing, and this will result in better demand. Secondly, due to the smart cities, ‘Housing for all by 2022′ and Amrut initiatives being activated by the Modi government, the real estate sector is going to see a lot of action. Thirdly, the recent announcement by the government easing foreign direct investment norms in the construction sector will give a boost to the construction sector. The rules regarding minimum built-up area and the capital requirement will go a long way in helping to alleviate the sector’s liquidity issues, and will give a lot of stimulus for growth.”
The forthcoming Indian Property Show will feature over 170 developers from all over India showcasing more 600 projects and about 45,000 properties. Free educative and informative seminars have been the highlight of the event.
Participating developers at the exhibition include Indiabulls, Bhartiya City, Lodha Group, Kanakia, Kalpataru, Wadhwa Group, L&T, Ozone Group, Mantri Developers, Sobha Developers, Goel Ganga, Rachana Lifestyle, Godrej, Unique Group, JP Infra, Sheth Creators, Akar Realty, Sunteck India, Suvilas, RajeshLifeSpaces, Saarthi Group, Jaypee Greens, ATS, Satya, Unnati fortune, Supertech, Risara and Antriksh, among others.