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The day has come when the Indian real estate industry is being looked at by the international real estate players as a venue to invest in.

At a time when India Inc is making its presence felt under the global spotlight, back home its real estate sector is offering one of the steepest returns in the Asia-Pacific region. No wonder, real estate giants from world over are now considering India as their next destination. If EMAAR, UEM Malaysia and Tishman & Speyer are already here, knocking at the Indian door are Salim Group, Donald Trumph Corporation, Liberty International, ETA Star and others. Reasons for this have been the booming Indian economy, favourable demographic transition and liberalised foreign direct investment (FDI). "With relaxation of the FDI ceilings, India has become a hot spot in the real estate investment. A closer look reveals that Indian realty is expected to grow from the current USD 14 billion to USD 102 billion in the next 10 years. It's apparent why foreign players are making a bee-line to India in this sector," says Rohtash Goel, MD, Omaxe. Noteworthy is the fact that almost all foreign real estate players coming to India are inclined to tie-up with a strong Indian counterpart. Industry leaders say it is primarily because it becomes difficult for a foreign realty company to invest and do good business overnight. "These tie-ups are also because the ways of land procurement, methodologies to reach out the right land in proper price are best known by the Indian professionals with knowledge and understanding," explains Kunal Banerjee, President, Ansal API.

Greeting foreign players in the Indian market, major real estate consultancy firms in India anticipate the tie-ups will result in projects of higher international quality and usher in sustainable 'green' buildings. "I don't see any possibility of direct competition in Indian market because of alliances. They will be complimentary to each other in developing superior design, structural integrity and cutback in environmental impact," opines Anshuman Magazine, Chairman and Managing Director, CB Richard Ellis. While the Indian players have advantage in terms of due diligence and land resources, the international experts will be contributing by way of greater transparency, technology, sustainability practices which will improve the quality bar for local players. "The challenge brought on by the arrival of international developers has also catalyzed a nationwide manhunt for highly trained human resources in the real estate sector," says Raminder Grover, CEO, Homebay Residential, and Jones Lang LaSalle Meghraj.

And here is a piece of good news for the urban Indian middle class as well - Indian real estate players share a chorus to assure that the middle class will be benefited more with the arrival of foreign players in India since it will bring in better infrastructure and value for money. "The middle class Indian should thank the inflow of foreign capital as it will boost supply of realty to meet existing demand. This will bring the prices under a check, and in turn opens greater accessibility for the middle class to reach out to real estate," says Ajay Midha, Director, Marketing and SEZ, Raheja Developers Pvt Ltd.

Courtesy:- ET dtd:- 19th Sep. 2008

Gateway to the Chardhams-Badrinath, Kedarnath, Gangotri & Yamunotri, these twin pilgrimage have around 300 units under construction and are witnessing a boom in real estate development. The areas have witnessed a rise in prices from a mere Rs.700/- per sq.ft. In 1990 to around Rs.2500/- per sq. ft. as on date. With land still available at low prices compared to larger cities, supported by improved infrastructure, these religious destinations are witnessing a rise in demand with investors looking at combining their spiritual need with a long term investment decision. The state industrial corporation is also developing a SEZ on the outskirts. Over 250 industries are also being set up in these cities which will be the prime driver for housing need in the near future.

Lying on the NH-24 and well connected with Delhi, Lucknow, Bareillly, Patna, Haridwar, Howrah, Amritsar, Moradabad is witnessing some fast paced industrial & commercial developments in Moradabad, this can largely be attributed to the town's location and accessibility. There are plans to develop Garhmukteswar (Near Moradabad) on the lines of Hridwar. To accommodate the city's burgeoning population, the Moradabad Development Authority (MDA) has recently carved out 16 new sectors on 900 acres of land called New Moradabad.

Currently, average plot prices in New Moradabad range form Rs.4500-500 per sq. mtr. And in Ramganga Vihar Rs.8000- Rs.10, 000/- per sq. mtr. . There has been anincreaseinprices by 20-30% in the last two three years. Prices are expected to rise further by 40-50% in the coming years.