Property Boom Continues In India.

Market experts are visualising a high growth in Indian real estate value. It is expected to rise from US $12 billion to $90 billion by the year 2015.
 Martin Bowen, Sales Director, Profile Europe (UK) Ltd, expressed his views, “The residential property market is experiencing exponential growth right across India, but especially in urban areas and those close to the government’s new specialized industrial zones”. Further he added, “Recent figures cited by the Bank of Baroda’s Chief Economist show properties have appreciated by as much as 60% to 100% over the last 12 months in most towns.” Bowen further expressed his views and said that there is a loss of some 20 million units. The main reason behind this is, about 55% of Indian population being under the age of 25 and the fact that the economy is booming. Other reason behind it is growing middle class who is looking for quality accommodation due to growing disposable incomes. Further he added that the growth in mortgage market and declining interest rates which have made property more affordable despite actual property price increases.

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