The Peninsula
Doha, Apr 26: Over 30 builders from various parts of India are showcasing their projects at Homes of India, the largest Indian property expo in Qatar, at the Ramada Plaza hotel.
The two-day expo was opened yesterday by Dr Mohan Thomas, President of the Indian Community Benevolent Fund.
The expo will showcase projects in Cochin, Kannur, Thiruvananthapuram, Thalassery, Thrissur, Munnar, Jaipur, Delhi, Hyderabad, Mumbai, Pune, Bangalore and Chennai.
This year's expo has been brought to Qatar by Bangalore-based event management company Studioline Conventions and Bahrain-based International Trading Company.
Studioline's CEO Michael Vasanth sid: "We have noticed the trend of Indian investors across the globe, who look for return on investment. People buy a second or third home not to live in but as an investment opportunity in the fastest growing real estate market of the world."
Real estate in India has been one of the fastest growing sectors. The appreciation has been tremendous, with returns of 40-50 percent over a period of 18-24 months.
Foreign investors too foresee high yields from Indian real estate due to its growth potential.
Funds are flowing into the sector not only from private equity investors but also from builders looking for a strong hold in this market. Within six months (April 2007 to September 2007), 21 private equity deals worth $1,292m were struck in the realty sector. According to Real Estate Intelligence, a research and consulting firm, this is a substantial increase over eight deals worth $282m inked in the same period last year.
The Indian real estate sector has also attracted many banking majors like Morgan Stanley, Blackstone, UAE-based Khaleej Finance and Investment and Ras Al Khaimah Investment Authority.
The recent FICCI-Ernst & Young India Real Estate Report 2007 said that institutional investors expect $5 billion to be pumped into Indian real estate over the next three years.
Real estate champion, Mr. Donald Trump is said to be scouting for land for such properties around Delhi, Mumbai, Pune and Bangalore.