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Real Estate sector to boost up 33 Percentage by 2010

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Claimed source to www.propertykhazana.com said that the Indian realty market is likely to grow at 33% in between 2005 & 2010 and might raise its cost from the present $12 Billion to $50 Billion. Indian property market is expected to grow at 33% by 2010 and there is huge hike in its market dimension from $12 Billion to $50 Billion. Total residential splurge is expected to grow at a CAGR of 18.60% from Rs. 171,800 Crores in 2005 to Rs. 403,400 Crores by 2010. With the lands in Silicon City, Hyderabad and Chennai whooping up hills and also other Indian cities are appealing with flourishing realty market. Irrespective of the state is the hold up and the boost by the IT/ITEs companies with the capital flood in to commercial realty in these cities in the next 3 years which is projected at over Rs. 23,200 Crores.
Silicon City has the uppermost inclusion of property at 11.5 Million Sq.ft and Hyderabad appeared to be the major player to compete with Garden City. Following the path of Mumbai and Pune, realty market of Mysore is assisting the city to turn into a clone city to Silicon City and the Southern states is carrying to lead in economic presentation owing to the IT Industry. Also Tier II cities is ahead in fame with IT companies gazing ahead to develop, but the largest barrier for them is the dearth of infrastructure and less man power. Further, the source added @ the www.propertykhazana.com says that the retail segment in India has many chances to grow and Delhi has 41% of the share in realty retail fallowed by Mumbai with 20%, Bangalore and other Southern cities lack behind at just 5%.
Source: NBTVLIVE

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