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Indian Property Market Set for Strong Year

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real estate  India  Mumbai  Delhi  PricewaterhouseCoopers  Urban Land Institute  Jai Mavani  Property Investment India 

Indian Property Market Set for Strong Year

By - Thursday 13 January 2011

An increasing number of investors may begin gravitating towards the property market in India following the result of a recent study. Both Mumbai and New Delhi have been named among the top five destinations for investing in the thriving Asia Pacific region.

According to a recent study by PricewaterhouseCoopers (PwC) India and the Urban Land Institute, residential homes in the two cities will continue to grow in value.

The organisations claim that this is a direct result of growing investor sentiment and confidence in India, with the survey ranking Mumbai in third place and Delhi just below.

"India continues to enjoy a significant demographic dividend by virtue of millions of additions to the working population every year. Most of them will translate into first time home buyers," said Jai Mavani, executive director of real estate and infrastructure at PwC India

This will continue to stimulate construction activity, particularly for residential units in cities such as Mumbai."

PwC forecasts that India will continue to maintain a GDP growth momentum of nine or ten per cent by 2015 as the country will witness new private equity in capital markets.

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