Times of Oman

MUSCAT — The Indian Property Exhibition 2007 opens today at Al Falaj Hotel.

Billed as ‘India — a destination for investment’, the exhibition will feature India’s leading builders, promoters, real estate companies, banks and financiers.

India has turned out to be a real estate hotspot and NRI investors wanting to invest in real estate will have access to a first hand information on the upcoming and on-going real estate projects.

Owing to the real estate boom, buying a value-for-money home in India isn’t just easy. The third Indian Property Exhibition is being organised to address the rising need for quality homes with its guidelines, guidance and a galore of choices.

After years of toil in the Gulf, a lovely home is everyone’s dream. Indian property exhibition offers key solutions for Indian expatriates to find their choice of homes across India — be it apartments, independent villas, bungalows or farmhouses. For those looking for commercial properties, beach resorts and plots, there will be a lot to go for.

More than 150 projects will offer freedom to purchase dream homes in New Delhi, Mumbai, Kolkata, Burdwan (West Bengal), Hyderabad, Chennai, Bangalore, Mysore, Hosur, Vizag, Coimbatore, Trichy, Madurai, Ooty, Thirunelveli, Courtallam, Pattukottai, Ludhiana, Ajman, Panipet, Ghaziabad, Mohali, Sonipet, Meerut, Bhathinda, Karnal, Jaipur, Lucknow, Gurgaoan, Jodhpur, Kundli, Chandigarh, Dindugal, Nagarcoil, Kanyakumari, Tirupur, Salem, Sathur and many other locations.

More than 150 projects across these cities will be on display during the two-day exhibition. Brought by Indus Fairs & Events Pvt Ltd, the exhibition is sponsored by Vatika, with Premier properties, Vakil, Our Town being co-sponsors. Closing on September 28, the exhibition will be open from 10.30am to 9pm.

Right time for NRIs

The $12 billion real estate market in India is on a high growth curve, on the back of a booming economy, increased participation of global players in the Indian market, new technological innovations coming to India, new norms and policies with respect to maintenance of buildings, general upgradation of infrastructure, entry of some world-class players in the hospitality and entertainment sector, favourable demographics and liberalised FDI regime.

The real estate sector is the second largest employer in India. This sector is projected to grow to $50 billion by 2010 at an average rate of 20 per cent per annum. Investment opportunity is expected over $50 billion in the next five years.

“In India’s fast-growing economy, real estate has emerged as one of the most appealing investment areas for domestic as well as foreign investors. The real estate sector will continue to derive its growth from the booming IT sector, since an estimated 70 per cent of the new construction is for the IT sector,” a report by Pricewaterhouse Coopers has said.

“Favourable interest rates, modern attitudes to home ownership (the average age of a new homeowner is now 32 years compared with 45 years a decade ago), economic prosperity along with a change of attitude amongst the young working population from that of ‘save and buy’ to ‘buy and repay’ and liberalised FDI regime have all contributed to this boom,” it said.

While the last decade saw the transition of sleepy towns like Gurgaon, Mysore, Jaipur, Burdwan (West Bengal), Mangalore, Hosur, Vizag, Ludhiana, Ajman, Panipet, Ghaziabad, Mohali, Sonipet, Meerut, Bhathinda, Karnal, Lucknow, Jodhpur, Kundli, Faridabad, Trichy, Madurai, Ooty, Thirunelveli, Dindugal, Nagarkoil, Kanyakumari, Tirupur and Salem into enviable addresses, today these tier I towns, as they are called, are saturated and far beyond the means of the middle class. Naturally, the opportunity in the residential development in Tier-II and Tier-III cities — like Hyderabad, Coimbatore, Gurgaon, Noida and Chandigarh is equally enormous.

The real estate industry has a lot of potential as various foreign real estate and finance companies have entered the Indian market.

Moreover 100 per cent FDI is allowed in real estate development and the Indian government has played a major role in supporting the growth of the real estate sector by allowing NRI investment.

Mall space is expected to increase dramatically in the coming year, according to a recent report by Myrrill Lynch. Property development is no longer merely constructing a building and leasing it out. The tenants of today are well versed with professionaly

managed buildings. This has made the developers in India appreciate the need to maintain and manage their property in a systematic manner.

Overall, the year ahead promises to be a good one for all those involved in the industry — the builders, as well as the consumers. The future of India is set to usher in the gold rush of realty.

NRI investors looking for investment in real estate India would have access to first hand information on upcoming and current real estate projects, as a range of property options, from residential apartments, plots and bungalows, to commercial properties would be on display.

Vakil Housing Develop-ment Corporation

Vakil Housing Development Corporation (VHDC) is a leading premium layout developer. Spearheaded by M. A. Vakil who has over two decades of experience in the real estate market, VHDC specialises in layout development with a pleasing ambience, an offering that is unique and has little competition.

VHDC has been instrumental in quietly transforming the landscape of Bangalore, guaranteeing quality and timely delivery of ‘thoughtfully designed spaces’. The company exemplifies meticulous planning and attention to detail, which makes every Vakil project a pleasure to live in.

VHDC prides itself on being a forward-looking organisation. Many of VHDC’s marketing, e-commerce and customer service initiatives have set benchmarks for the real estate community in the country.

The company is customer centric with the highest degree of professionalism and transparency. VHDC, a pioneer in landscaping, has offered unique features like butterfly park and fruit orchards at their projects.

VHDC’s customers range from businessmen, government officials, entrepreneurs to professionals from some of the most prestigious organisations in India.

VHDC is committed to the objective of ‘Creating International Quality Living Spaces’.

Vakil Housing in years of its existence has developed premium properties in Bangalore. All of Vakil Housing’s projects have been in areas which have seen massive appreciation after the launch of their project.

Times of Oman