Local Business

14th edition of Indian property show opens in Dubai

Abdul Basit
Filed on June 13, 2014

Three-day exhibition features 40,000 properties worth Dh16 billion for NRIs

Sunil Jaiswal and Arbaaz Khan at the inauguration of Indian Property Show on Thursday, while visitors make inquiries at Waterville pavilion. — KT photos by Juidin Bernarrd

The 14th edition of the Indian Property Show kicked off on Thursday with 40,000 properties from across the country on offer. The properties, spread over four district pavilions, is worth Dh16 billion.

Bollywood filmmaker Arbaaz Khan opened the three-day property event at the Dubai International Convention & Exhibition Centre.

The exhibition targets the needs of NRIs in the Middle East, and features the latest projects in India as well as diverse offerings from India’s top developers. Exhibitors at the show include some of the best Indian real estate developers, construction companies, banks and real estate agents.

With over 150 developers, there are properties to suit every budget from across India. Either it’s someone’s dream home or ideal investment, the show brings properties from Delhi, Noida, Greater Noida, Gurgaon, Punjab, Mumbai, Navi Mumbai, Pune, Chennai, Jaipur, Bengaluru, Mangalore, Kochi, Ahmedabad, Coimbatore, Hyderabad, Nagpur, Lucknow, Goa and many more cities.

Visitors at the show are entitled to get free advice on any of their property related matter whether it’s for new property purchase; concerns related to existing property, tenancy laws etc.

Other highlights consist of series of Free Seminars that are designed to offer interesting insights and analysis for the attending delegates and are conducted by some of the most influential property industry gurus, and legal advisers. Know Your City, a new addition to the list of seminars giving visitors industry insights into new developments in India’s bigger cities also was a big hit last time and the organisers have brought it back with more insightful sessions this time around.

“Investment in Indian property sector is best investment amongst all asset classes for various reasons including highest LTV, tangibility, less volatility, rental income and appreciating asset. And the icing on the cake is that Indian property market is huge and yet affordable compared to international investment destinations. Capital appreciation on real estate in India is far higher than the high-yielding deposits for non-resident Indians (NRIs)”, Sunil Jaiswal, CEO Sumansa Exhibitions, organisers of Indian Property Show, said at the news conference.

Investors Clinic CEO Honey Katiyal commented: “Real estate sector has always been at the top of investment opportunity watch-list of Non-Resident Indians. A place in the homeland also gives a sentimental support and sense of security, which is another reason for their investment in real estate. NRIs invested over $2 billion in Indian real estate in 2013. They spent at least 35 per cent more in real estate across the country in 2013 compared with the previous year and made for almost 12 percent of total apartment sales in the top seven cities. This $2 billion investment does not include Punjab, Gujarat and Kerala states where a bulk of repatriation happens.”

According to the World Bank, India led remittance flows globally, receiving $70 billion in 2013, which eventually leads to investments in real estate, informed Katiyal.

Rajesh Life Spaces director Pratik Patel said: “NRI’s usually look for a property that can replicate their standard of living regardless whether the property will be utilised for end use or taken purely from an investment point of view. They don’t like to compromise on standards, convenience of lifestyle options and most importantly security. Any property with the said features and ranging anywhere between Dh600,000 to Dh1.5 million is popular with them.”

— abdulbasit@khaleejtimes.com

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