As per the sources available with www.propertykhazana.com, the Indian Property Market (IPM) has planned to jump to $102 Billion by the year 2010 from its present figure of $14 Billion, said Shyam Prasad Reddy the Managing Director and Chief Executive Officer of Indu Projects Ltd. Shyam took part in a board conversation which was organized by Ernst and Young Private Ltd. The student of the Realty Club and the Wadhwani Centre for the Entrepreneurship Development at the Indian School of Business on ‘Indian Real Estate – the Research Imperative’. He mentioned the improved buying power of the Indians, easier funding by the HFCs and the banks as channels for the growth in the IPM.
Meantime, the claimed sources said the www.propertykhazana.com that IPM has a potential of about 20 Billion residences, comprising 6.7 Million in the India’s cities and in the towns. Growth in the retail segment is unlocking the doors for the domestic and international infrastructure developers in India. With the foreign investment in the realty is picking up and more professionalism is required, said Reddy. Some of the members who were in the board were Ganesh Raj of Ernst & Young, Arvind Pahwa of JP Morgan, Nayan Shah of Mayfair Housing, Balaji Rao of Starwood Capital India, William Kistler of Urban land Institute (Europe) and so on.
Source: NIMMA BENGALURU
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