DUBAI — The forthcoming Indian Property Show is expected to generate business worth Rs2.5 billion ($58 million) as 50 leading developers are ready to feature more than 250 projects in Dubai on June 16.
The eight edition of the much-awaited property show is back on popular demand and is scheduled from June 16 to 18 at Dubai World Trade Centre. The show offers a snapshot of Indian property market by displaying mega projects worth $2.23 billion in housing and commercial segments, the organisers told Khaleej Times.
The three-day event, organised by Sumansa Exhibitions, will be attended by leading Indian real estate and construction companies including Unitech Ltd, Vatika Group, Godrej Properties, Hiranandani, Ansal Housing, India Bulls, Jaypee Greens, Lokhandwala, Ireo and Arihant Superstructure among others. “The Indian property show connects buyers and developers at an opportune time, with the rupee slated to be strong against the dollar and demand for property at a high, we will again witness rise in property prices in India in near future and hence this is a right time for the investors to buy the property.
Also those keen to expand their financial portfolios with real estate as a hedge against rising inflation and those looking to maximise their ROI should definitely visit Indian Property Show” said Sunil Jaiswal, chief executive officer of Sumansa Exhibitions.
Focus on NRIs
According to the organisers, about 70 per cent of the projects on display are residential while 30 per cent offer commercial and retail space to the Non-resident Indians, or NRIs, in the UAE. The visitors will be able to look at a spectrum of properties available, different investment options, financing sources, Vaastu consultations and sorting out legal queries, all under one roof.
Indian property developers are concentrating on NRIs for selling their properties to cash in on the boom in real estate sector, as 62 per cent Indians residing in UAE plan to own their home in India. According to a recent survey conducted amongst 15,000 Indians spread across UAE, about 32 per cent NRIs plan to buy in less than month’s time while 87 per cent require finances from banks or financial institutions to buy property back home.
“Buoyant with the response we received last time, we decided of making this show biannual this year. Investors, buyers and developers all have encouraged us to hold the show again after six months. The last show saw more than 17,000 visitors, we expect a similar response this time as well,” Jaiswal said.
The exhibition also features not-to-be missed property and investment seminars by some of the most influential property industry gurus, international fund managers, and legal advisers. This year the seminars aim to guide the buyers on the booming real estate markets within India along with the benefits of investing now.
The seminar will further talk about the upcoming projects, infrastructural development that these cities will witness making them a lucrative option to invest. Some of the cities in focus are Mumbai, Pune, Bengaluru, Chennai, Gurgaon, Noida, Kochi etc.
“The global meltdown, unrest in few parts and job uncertainty may have also prompted the NRI’s in UAE to buy property in India. Catching up on these trends Indian realtors are going that extra mile to make homes that fulfill individual’s aspirations and are still affordable,” Anuj Malik, GCC Sales Head for Unitech Ltd, said.
“We are participating in the upcoming Indian Property Show with aggressive pricing of Rs1.7 million onwards and providing all options such as first time buy, second home, investment option, budget homes & holiday homes,” he added.
Banks and financial institutions such as HDFC, who are participating in the upcoming show, are also hoping for good business.
“Through this exhibition we plan to meet potential customers and we foresee a strong demand as Indian property market has revived very quickly as compared to other markets in the world. This is due to strong RBI policies, government planning and healthy credit history,” Ajay Sachdewa, Regional Head-Dubai and GCC, HDFC.
“HDFC has made it easier for the Gulf based NRI’s to apply for a loan to HDFC – India. HDFC through its office in Dubai and all the GCC countries through Service Associates, now offers advisory services in real estate finance to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India”, Sachdewa added.