Three-day India Property Fair in Dubai
Wed, 20 Jun 2012 01:41:34 -0600
The 10th edition of the show will have over 70 developers displaying over 300 projects
Indian property developers expect to generate business worth $54 million during a three-day exhibition scheduled in Dubai from June 21 to 23.
They are looking for higher investments from expatriates after the sharp slide of the rupee against the US dollar and the dirham. The 10th edition of the show will have over 70 developers displaying over 300 projects from across India and is expecting footfall of 15,000 interested buyers.
The Indian Property Show will feature properties ranging from Rs 8 lakh to Rs 9 crore and more while exhibiting diverse offerings of various developers from budget to luxury properties, organisers Sumansa Exhibitions said.
The show will have participants such as Mantri Developers, Nirmal Lifestyle, Hiranandani, Ansal API, Ireo Pvt ltd, Amrapali, Brigade Group plus Investors Clinic, Assetz Homes and Sobha Developers. Leading banks have also confirmed participation.
Sumansa Exhibitions CEO Sunil Jaiswal said the magnitude of the exhibition has grown as this year the focus has shifted on affordable properties as Union Budget has allowed external commercial borrowings which will allow liquidity to the builder.
"The homes are expected to be affordable on the outskirts of the tier 1 cities. At the same time property prices in metros and tier 1 cities are expected to go up due to additional burden of service tax and excise duty," he said.
With recent reduction in interest rates, home loans will be cheaper and depreciated rupee will tilt the balance in favour of NRIs, Jaiswal said.
"The momentum of Indian property will be kept going on by NRIs for whom the current scenario is conducive as long as investment in Tier 2 & 3 cities are concerned," he said.
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