Author Topic: Big construction prospects for developers  (Read 407 times)

TimmiAmi

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Big construction prospects for developers
« on: March 24, 2009, 07:25:22 am »
DLF has also entered into hotel development, insurance, and construction of infrastructure facilities. Indian property market is grabbing large attraction from cross-border investors as the Indian Government is considering about passing real estate investment trust (REIT) legislation. Contrary to the trends in foreign markets, India offers little similarities between the Real Estate in Tripunithura and the capital markets in India as there is no existing REIT legislation. Another area of growth that makes investments in India worthwhile is the country’s hospitality sector. Hoteliers across the world are being bullish on to carve out a significant niche in India.

The inclusion of Taj Mahal, the architectural marvel located in Agra, in the most desired list of Seven Wonders of the World is likely to give a huge boost to tourism in the city. This is clearly indicative of increased real estate and retail in the city. In a bid to avail new real estate prospects, builders and consultants across the country were keenly awaiting the results. Residential property in Cochin is soon to witness a 15-20% increase being a frontrunner out of seven chosen wonders. With the increased inflow of tourists, the retail sector in Cochin is expected to flourish at a fast pace. Prominent developers in Indian real estate have starting scouting opportunities near the highway, spread across several lakh hectares in Cochin. Developers say to bring exclusive residential towers in the city if there is better road connectivity, entertainment venues, and large hotels. The infrastructure should be more tourist-friendly to cater unique needs of the foreign population coming to visit the place.  India’s top real estate company has come out with flying colors on the exchanges which is indicative of growing importance of the country’s real estate market. At present, the penetration in both the commercial and residential segments remains low. Data showcased by the Planning Commission places the shortage near to 22 million accommodation units. The demand for residential units is primarily driven by a younger population with higher disposable incomes.