Business Daily from THE HINDU group of publications
Wednesday, Sep 19, 2007
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Business Daily from THE HINDU group of publications Wednesday, Sep 19, 2007 ePaper |
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Industry & Economy
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Real Estate & Construction ‘Small cities will transform realty landscape’ Our Bureau New Delhi, Sept. 18 As many as 11 cities in the country are emerging as new growth centres with the potential to lead the transformation of the Indian real estate sector, a report by FICCI and Ernst & Young said on Monday. The FICCI-Ernst & Young Indian Real Estate Report, 2007: Growth and New Destinations, the highlights of which were released on Monday, revealed that Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam, Jaipur, Thiruvananthapuram, Kochi, Nashik, Indore and Ludhiana were displaying a high growth potential. This growth is attributed to increasing investments across industries including IT/ITeS, improving infrastructure and urban governance, rapid influx of knowledge industry professionals, improving quality of life, and rising prosperity. Drive factors“Driven by dynamic policy interventions, free flow of cross-border capital, entry of large international players, big ticket domestic IPOs, increasing end user demand and occupancies, the Indian real estate sector is clocking a growth of more than 30 per cent per annum,” a FICCI release said. It added that this order of growth was shifting the focus of investors and developers to the relatively smaller cities and hence there was a likelihood of such emerging cities leading the transformation of the Indian real estate sector. More Stories on : Real Estate & Construction | Industry Associations
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