India: Now is the time to invest in property
Overseas Property News - India
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The president of the Maharashtra Chamber of Housing in India, Pravin Doshi, said today: "If you want to invest in property, this is the best time."
Mr Doshi said property prices present a far greater opportunity when compared with other asset classes in India.
He said: "Home loan rates are only marginally higher than inflation. Investing in property will give a better utilisation of the Rupee."
The Indian real estate market is on fire. Property prices in the last two years alone have increased by 70 percent as the world's second-fastest growing economy continues to gather pace.
Rising inflation and high global oil prices are making real estate an increasingly safe investment for the average Indian citizen with sustained strong growth in the sector compared to the more volatile stock-market.
Liam Bailey, Head of Research at Overseas Property Specialists DSR said:
"India offers the ultimate emerging market property investment. Low priced properties can still be found, and as India's economy continues to grow massively, and India's affluence causes the middle and upper classes to grow in numbers exponentially demand for resale properties, and their value will continue to grow in-line with the affluence of the population at large."
Investment property specialists DSR are currently marketing the Orchard View development in one such affordable area, Rudrapur. Orchard View is attracting a lot of attention as investors seek to benefit from an area hoping to attract just some of the 2.5 million students that graduate from Indian universities each year.
Designated a Special Economic Zone by the government, the massive industrial estate on the outskirts of Rudrapur is home to global corporations and an ever increasing number of factories. When the 450th one is completed in December 2008, around 50,000 people will be employed directly and a further 250,000 indirectly. Those moving to Rudrapur will need rental accommodation, and Orchard View's affordable apartments have been built to provide just that. The property offers a guaranteed rental yield of 5 percent for the first two years, after which management fees will be just 10 percent of the rental yield.
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