Associated Chambers of Commerce and Industry of India reported that realty investment in UP has increased over four years’ time.
Realty investment has grown up in Uttar Pradesh, states Associated Chambers of Commerce and Industry of India (ASSOCHAM). Real estate sector in the state has seen remarkable progress during the period from 2008-09 till 2012-13.
As per the study report of ASSOCHAM, UP witnessed a growth by 106 percent. Meanwhile, the realty investment grew in India by just 25 percent, the report adds.
Receiving Rs.14000 Cr, UP stands at the sixth position on the list headed by Gujarat. The state has bagged nearly 10 percent of total investments in real estate.
Last year, India as a whole received Rs.42000 Cr in the form of investments from both domestic and foreign investors. However over 40 percent of realty investments were done in Gujarat which topped the list with Rs.17000 Cr.
Uttar Pradesh received Rs.8200 Cr in the fiscal year 2011-12. The growth of Noida and other nearby locations contributes a major share to the total investments done in the state.
Though India receives investments in various other sectors, realty investments remain always a key-investment. Though the other sectors are contributing a lot to the total investments, in comparison to the contribution of realty sector, they remain minimal.
As per the report of ASSOCHAM, India as a whole witnessed a deep fall in the terms of realty investments. As against the Rs.96000 Cr of 2011, this year only Rs.42000 was invested in realty.
While most of the states performed badly, a few states like Gujarat, Kerala, Uttarakhand, Rajasthan, etc. alone performed well. These states received higher investments in the last fiscal.
Though realty investments in India as a whole declined, the experts say that this year would be a better year for the realty sector.