Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

India realty bullish on Narendra Modi  Join our daily free Newsletter

MENAFN - Khaleej Times - 23/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Under an investor-friendly modi government the realty sector is expected to attract an increased inflow of foreign investments after a period of decline.

the bullish outlook for a stable government in new delhi in the wake of an overwhelming mandate won by india’s prime minister designate narendra modi is expected to help revive the country’s property market after a prolonged period of sluggish growth a leading developer said on thursday.

under the new bjp-led nda government india’s property sector is poised to witness a new boom cycle driven by upbeat investor sentiments and brighter prospects of increased foreign direct investment flow said y. rajeev reddy founder chairman and managing director of country club india ltd an entertainment and leisure infrastructure conglomerate and developer.

“given narendra modi’s track record for pragmatism and quick decision-making style of governance asia’s third-largest economy is seeing a rebound in economic growth and business confidence. this will have positive implications on the property market that has been in the doldrums for the past three years” reddy said at the launch of osadia garden city a luxurious housing project located in the green community of bangalore.

under an investor-friendly modi government the realty sector is expected to attract an increased inflow of foreign investments after a period of decline.

according to department of industrial policy and promotion data fdi into the construction sector — townships housing and built-up infrastructure — declined to about 1 billion in april 2013 to february 2014 from 3.1 billion in april 2011 to march 2012. from april 2000 to february 2014 a cumulative fdi of 23.1 billion has come into the realty sector 11 per cent of total inflows.

reddy said property prices which have remained almost stable over the past few months are likely to remain at the current level for some time before a widely expected upswing the new regime would trigger by implementing some of the long-awaited reforms and investor friendly regulations.

“for buyers this is the right time to invest. developers are hoping that the new government would hasten the pace of granting approvals to projects and also get the real estate regulation and development bill passed” said reddy.

he said the new government is expected to facilitate quicker land acquisition faster approvals easy and low cost funding availability and better infrastructure to ensure fast-track developments across all real estate sectors.

reddy said construction work for his bangalore project valued at rs2.5 billion would commence soon and is scheduled to open in 2017.

specifically targeting the non-resident indian segment this residential project with contemporary features has been designed to offer them facilities and amenities similar to those they experience abroad he said. key features include apartments with massive lung space to promote healthy living; finest contemporary architectural design; conformance to international safety standards; easy access to entertainment spots it hubs and educational institutions.

“osadia garden city will offer indian expatriates living in the uae and the gulf a unique opportunity to select a place back home at a time the real estate is becoming one of the most lucrative investment options for nris. moreover real estate in bangalore for a variety of reasons represents an excellent destination for nris wanting to park their investment and see it grow” said reddy.

a recent report on real estate and construction indicated that india is reinforcing its stature not only as one of the leading investors in the uae realty market but also as a country that offers diverse realty offerings to investors based in the middle east.

“with definitive pick up in the economy moderate climate good labour relations excellent education and research institutions advanced infrastructure a progressive state policy and a positive investor perception; investment in properties in bangalore would hence be an ideal option” said reddy

osadia garden city marks reddy’s come back as a developer several years after pioneering the real estate business in hyderabad under the name amrutha estates. prices of amrutha residential units have appreciated more than ten-fold over the past 15 years he said.

— issacjohn?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Sep 21 2014 - Costa Rica's Foreign Trade Minister Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Minister of Foreign Trade of the Republic of Costa Rica Alexander Mora Delgado met here Sunday with HE Qatar's Ambassador to Costa Rica Jaber Ali Al Adhba. During the meeting, ...

 Sep 21 2014 - Former US President Backs Fight Against ISISQatar News Agency
(MENAFN - QNA) Former US President Bill Clinton said Sunday he backed Obama's strategy to end the threat of ISIS. Clinton said that the Iraqi government is now more representative compared to the ...

 Sep 21 2014 - Summary of Saturday Local NewsQatar News Agency
(MENAFN - QNA) A summary of local news released Saturday by Qatar News Agency. - HE the Minister of Foreign Affairs Dr. Khalid bin Mohammed Al Attiyah described the formation of a new government in ...

 Sep 21 2014 - Summary of Saturday Local News- 1-Qatar News Agency
(MENAFN - QNA) - Kyrgyz Minister of Education Kanat Sadykov arrived in Doha on a working three-day visit to Qatar. HE Dr Mohammed bin Abdul Wahid Al Hammadi, Minister of Education and Higher ...

 Sep 21 2014 - Dubai property transactions down 22 percent in July-AugMENAFN
(MENAFN) The Dubai real estate market registered a decrease by 22 percent in the total value of property transactions during July and August compared to the same months last year while rents ...

 Sep 21 2014 - Online abuse of spouses after separation rappedArab News
(MENAFN - Arab News) Grand Mufti Abdul Aziz Al-Asheikh has warned people against defaming their spouses or in-laws on social networking sites saying such publicity could destroy families complicate ...

 Sep 21 2014 - Ex-fighter exposes IS liesArab News
(MENAFN - Arab News) A Saudi citizen who recently returned from Syria after fighting with the 'Islamic' State (IS) terror organization has posted an online video urging fellow youth not to fall ...

 Sep 21 2014 - Checkpoints net 24000 illegal HajisArab News
(MENAFN - Arab News) More than 24000 illegal pilgrims bound for Makkah have been stopped at security checkpoints in Taif and sent back over the past few days.'This year checkpoints have been set up ...

 Sep 21 2014 - DM to finish Phase 1 of USD9.5b Desert Rose in 2015MENAFN
(MENAFN) Dubai Municipality (DM) announced it is planning to finish Phase 1 of its USD9.5 billion Desert Rose project within a year's time, Emirates 24/7 reported.The planning and urban development ...

 Sep 21 2014 - Emirates lounges: 320m investments boost facilitiesArab News
(MENAFN - Arab News) Over 22 million customers have enjoyed the haven of an Emirates Lounge since the airline opened its first international lounge outside of its Dubai hub and demand is growing.In ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help