Quotes: 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
 May 5 2015 - Spring weather conditions forecast over next three daysJordan News Agency
(MENAFN - Jordan News Agency) A rise in temperatures is expected on Tuesday and the weather will be moderate in most parts of the Kingdom and warm in the Jordan Valley and Aqaba.According to the ...

 May 5 2015 - U.S led-coalition conducts 22 airstrikes against Daesh in IraqJordan News Agency
(MENAFN - Jordan News Agency) Coalition military forces in a statement said it had launched 22 airstrikes against Daesh terrorist gang in Iraq during the past 24 hours.The strikes hit tactical units ...

 May 5 2015 - Israeli forces arrest 11 Palestinians in the West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation soldiers on Tuesday arrested 11 Palestinians in the West Bank.Palestinian Interior Ministry said that the occupation forces stormed the towns of ...

 May 5 2015 - Red Cross issues 24 travel documents for Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 24 travel documents were issued recently by the International Committee of the Red Cross (ICRC) to Syrian refugees in Jordan who were granted resettlement ...

 May 5 2015 - 7th Jordan AFAQ Economic Forum to be held in Amman next TuesdayJordan News Agency
(MENAFN - Jordan News Agency) The 7th Jordan AFAQ Economic Forum will be held in Amman next Tuesday with the participation of economic and financial experts as well as companies from 10 nations, ...

 May 5 2015 - TAG signs two agreements to promote Italian languageJordan News Agency
(MENAFN - Jordan News Agency) The Talal Abu Ghazaleh (TAG) organization and the Italian Embassy in Jordan signed a cooperation agreement Tuesday to promote the Italian culture and language.Under the ...

 May 5 2015 - IMF expects 3.8% GDP growth in Jordan in 2015Jordan News Agency
(MENAFN - Jordan News Agency) The Regional Economic Outlook Update, released Tuesday in Dubai, projected that Jordan's Gross Domestic Product (GDP) will grow by 3.8 per cent this year and 4.5 per ...

 May 5 2015 - Specialized training course on ethical hacking concludes at RSS in JordanJordan News Agency
(MENAFN - Jordan News Agency) A specialized training course entitled "Certified Ethical Hacking" concluded at the Royal Scientific Society (RSS) Tuesday.The training course, which was held by the ...

 May 5 2015 - UNFPA calls to enhance quality of midwives servicesJordan News Agency
(MENAFN - Jordan News Agency) The Executive Director of the United Nations Population Fund (UNFPA), Babatunde Osotimehin, called for greater investments to increase the number of midwives and enhance ...

 May 5 2015 - VOL 1 - Companies need to balance expectations of all stakeholders: Bharat WakluKNN India
(MENAFN - KNN India) Today's companies need to balance needs, expectations and aspirations of all stakeholders. They should also have a mechanism by which if there is a tie between the expectations ...

more...


 






Google

Internatinal Property Show

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help