KUWAIT: Indian expatriates [NRI investors] in Kuwait will be able to select their best locations in India during a two-day ‘Realty India 2012′ exhibition set to kick off tomorrow at Ramada Hotel. A total of 45 reputable property developers will showcase their designs and property locations at the exhibition which will start from 10am to 8pm [daily]. The fifth ‘Realty India 2012 Exhibition’ organized by the Times of India, is dubbed being the largest exhibition to be held for the Indian community in Kuwait. According to Managing Director Zia Sait of Mindscape Exhibition PTV Limited, the subject about real property is sentimental to many Indians.
“Real Estate property is very important to many of us in India,” said Sait. “There is a sentimental value attached to it. What Indians are looking for is a genuine property, comfort/nice location and with high profitability. They want to select a property that is free from any legal problems and the likes and that is what we are offering here,” he added. India’s real estate business is growing to newer heights, according to Sait and that the sector has emerged as one of the most profitable businesses in the recent years.
“Investing in Indian real estate is sure to fetch you a rewarding deal as the returns on investment are at an all time high. The real estate business has attracted several foreign investors. This has created a domestic and a global competition for investments,” he added. Many developers from each states in India are part of the property exhibition this year. “What we want for our NRIs is to select the best location and place for them to be proud of. What we did in The Times of India is select the best and bring them all here in one platform. They are all genuine properties and it’s up to the buyers to decide,” he added.
“What is truth is NRIs will no longer go back to India just to seek/find the best and genuine developers, they are all here now and ready to answer queries,” he opined. According to Sait, the venue could be a best place to meet their respective/prospective investors/buyers. The real estate market in India is yet in a nascent stage and has an unlimited scope, he said. “It does not resemble a bubble that will burst. An unhindered growth for the next 20 years is almost sure,” he asserted.
“Legality and standards wise, we made sure to our investors that what we offer here in this exhibition everything is genuine. When you come to our exhibition on Friday and Saturday, you will be assured that you are going to meet with the builders and not the brokers and the third party people on the middle, we don’t have that, you will meet the builders itself and you’ll be assisted and will answer all your questions,” he assured. The Indian Central Statistics Office, Ministry of Statistics and Programmed Implementation estimated that an 8.5 percent GDP growth was recorded in 2011- 2012, against the initial projection of 8.6 percent when it comes to real estate property. This means the Indian realty has outperformed the primary investment sectors.
“The market witnessed stability with virtually no change in the rentals over the year as the malls located in the central districts continued to operate with high occupancy levels. The second half of 2012 is expected to witness an additional space supply of approximately 3 million sq ft. Investment into residential property projects is currently the preferred route for investors, since the demand for homes in the metros and cities is virtually limitless.
Commercial and retail spaces also present potentially lucrative investment propositions, especially in the larger cities,” Sait mentioned. The entire spectrum of Investment Realty India 2011 has been created to facilitate prospective buyers/sellers and all associated with the real estate fraternity take informed property investment decisions by quick zeroing in on the latest real estate updates in India.
By Ben Garcia, Staff Writer
Source: http://news.kuwaittimes.net/2012/06/06/realty-india-2012-exhibition-45-property-developers-to-showcase-in-kuwait/
