The highlights of "The FICCI-Ernst and Young Indian Real Estate Report, 2007: Growth and New Destinations" were released today.
The realty sector in India is growing by more than 30 per cent per annum. This order of growth is shifting the focus of investors and developers to relatively smaller cities. There is a likelihood of such emerging cities leading the transformation of the real estate sector, the study says.
The report, will be released on September 27 at FICCI's International Real Estate summit in Mumbai.
Showing posts with label FICCI. Show all posts
Showing posts with label FICCI. Show all posts
Tuesday, September 18, 2007
11 tier II Indian cities, such as Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur, are emerging as growth and investment centers: survey
Compared to other Asian markets like China, Vietnam, Malaysia, Indonesia, Thailand; "India is an excellent investment destination": FICCI-E&Y survey
'The FICCI-Ernst and Young Indian Real Estate Report, 2007' also carries a survey of leading investors.
The survey revealed that all the respondents believe that more than $5 billion would be deployed into Indian real estate over the next 3 years.
Around 20 per cent believe that the deployment would be more than $20 billion.
$20 billion is OK! It should be that much because according to Mr. Lalit Kumar Jain, president, Promoters and Builders’ Association of Pune, "Pune can absorb up to $2-3 billion in Foreign Direct Investment annually"!
Almost 80 per cent of the respondents believe that in short to mid term, India as an investment destination is 'excellent' or 'very good' compared to other Asian markets like China, Vietnam, Malaysia, Indonesia and Thailand.
According to survey, more than 50 per cent of respondents believe that high trajectory growth would continue for next 2-3 years.
real estate realty Indian real estate Indian real estate news economic development economic growth investment investing investment opportunities development growth expansion
Pune is "A" city! The FICCI-Ernst and Young Indian Real Estate Report, 2007: says, stop calling tier I, II and II cities. Start calling A, A+,
Delhi and Mumbai "A++"
Bangalore, Chennai, Hyderabad, Kolkatta are "A+"
Pune and Ahmedabad "A"
Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur "B++"
The ratings are based on five critical indices, city prosperity, urban governance, business environment, quality of life and infrastructure, encompassing 55 parameters.
Ernst and Young Partner and National Leader (Real Estate Practice) Ganesh Raj said: "An attempt has been made to rank the cities based on scientific methodology and statistical tools. The term tier I, II and II cities are loosely used".
The assessment of potential in different cities across India would assist the government, industry, developers and investors to systematically plan the inflow of investments and the development of cities, he added.
The report, which will be released on September 27 at FICCI's International Real Estate summit to be held in Mumbai.
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