“FDI in Indian real estate segment might bounce about $30 Billion in the coming 10 years and segment is likely to grow about 30% in the coming years” Says ASSOCHAM. Currently the flood of FDI in Indian Real Estate Segment is expected at about 5-5.50 Billion dollars and the domestic realty market stands at $14 Billion and is also expecting to stand at $102 Billion in coming 10 years while the FDI inflows to the segment will be about $30 Billion. Mr. Venugopal Dhoot, President of Assocham said @ the www.propertykhazana.com that, Foreign developers can take on construction activities on lowest space of 50,000 Sq.ft which might be increased by the Govt. for more than a year, next resulting in more FDI inflows. Govt. wants to do which is left with the several endorsements at the central and state levels needed for dveloping townships.
Mr. Dhoot further added that observing the immediate growth of the country’s IT Segment which will need space of about 200 Million Sq.ft and about 20 Million housing units and the realty segment is ready to grow exponentially. Fast hike in buying power and exposure to proposed retail set-up have been redefined the utilization prototype for housing units owing to which retail ventures have grown rapidly in smaller towns and cities.
Chamber expected that almost 30 Million Sq.ft of planned retail space is presently accessible, as one more 90 Million Sq.ft is expected to be added by 2008 from 265 mall ventures.
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