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‘Indian Property Mela 2015’ on October 30-31

indian-property-mela-2015KUWAIT: Kuwait Times, in association with Aashiaana, a leading property portal in Kuwait, will be organizing the much-awaited ‘India Property Mela 2015’ on October 30 and 31 at the Crowne Plaza Hotel, Kuwait.

The two-day ‘Property Mela’ will be the ideal opportunity for NRIs looking to invest in Indian real estate, as they would have access to meet and interact with top Indian property developers and gain first-hand information on current and upcoming real estate projects across India.

Hundreds of projects, including from 15 top Indian developers, ranging from affordable apartments to luxury villas will be on offer at the Property Mela. Developers will be highlighting real estate in cities across India and will be presenting special offers on limited properties during the two-day show.

Leading developers at the Property Mela 2015 include the likes of Lodha, Kanakia, Mahindra Lifespaces, Hubtown, Vaishnavi, Propshell, KoltePatil, Nahar’s and Supertech. The builders and developers will be showcasing their properties in Mumbai, Navi Mumbai, Pune, Thane, Nagpur, Ahmedabad, Gurgaon, Noida, Goa, Hyderabad, Bangalore and Chennai, among other places.

A house is usually a person’s biggest investment. In case the person is not in a position to buy, renting is the next best option. But, in India, renting can be a nightmare as weak implementation of regulations means the renter is often at the mercy of the owner. In case the owner does anything wrong, it is next to impossible for the renter to seek redress. Under these circumstances, most people prefer to save money and buy their own homes. Increasingly, people are also looking at realty as a lucrative investment.

The real estate industry in India has once again turned into a rewarding market, surpassing many other industries in terms of growth, in the first half of 2015. Revival of the real-estate industry into one of the most vibrant and dynamic sectors of the Indian economy can be attributed to several factors.

Some of the reasons for the recent boom in this industry include, the new real-estate policies introduced by the government, the liberalized lending regulations of the Reserve Bank of India (RBI), the huge demand for affordable housing in cities and entry of many new real-estate developers to the sector. But, underlining all this demand for real-estate is the realization that the Indian economy is on a growth trajectory and investment in realty is one of the best ways to share in this progress and development.

Industry analysts see the recent rise in residential demand in cities as something not very surprising. In the last decade there has been a huge migration of rural people to urban areas, both in search of better employment opportunities and living conditions. A recent survey on the Indian property market revealed that in many states there is a huge pent up demand for affordable housing units, especially from lower- and middle-income groups.

Increasing connectivity between suburbs and large metropolitan cities has also made living in new satellite cities attractive to many people. This has led to a huge expansion and investment by realty builders developing properties, including affordable housing, on the outskirts of major cities.

In response to this demand for affordable residences, the Reserve Bank of India (RBI) is now encouraging commercial banks to provide loans up to 90 percent for properties that cost up to Rs30 lakhs. Earlier, this facility was available only when the cost of the property was up to Rs20 lakhs. The RBI is also initiating policies that allow major banks to reduce interest rates on home loans. The central bank has noted that in the case of ‘individual housing loans’ that fall under the category of Rs30 lakh, the loan value ratio is now up to 90 percent; for properties above 30 lakhs the ratio is now up to 80 percent and for those above Rs75 lakh, the ratio comes to 75 percent.

Experts believe that in the future, more and more satellite cities will be developed and they will continue to hold potential for investors, as well as provide affordable housing to those in need. Given the growth potential of these new satellite cities, and the fact that real estate investments generally have higher returns compared to other asset classes, investors will be well-advised to invest a portion of their savings in these properties, as the yield will likely be significantly higher over a period of time.

With developers providing a wide range of offerings, from luxury villas to mid-range and affordable apartments, and given other favorable increments taking place in the real estate market, this is the right time to make property investments in India and there is no better venue to explore this rewarding market than the Indian Property Mela 2015.

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