'India Property Show' in Dubai next month to woo NRI investors

Kochi, Apr 23 (UNI) Real estate property portal India Property.com is to hold a two-day 'India Property Show 2008' at Dubai from May two to showcase real estate investment opportunities in major Indian cities.

Addressing a press conference here, Mr Shrikanth, National Head (sales and operations), IndiaProperty.com, said nearly 35 exhibitors will put up 50 stalls and footfall of more than 6,000 prospective NRI investors were exepcted at the show.

The portal, which is a part of 'Consim' (Consumer Services Through Internet and Mobile), which was formerly known as bharatmatrimony.com, will also launch the Dubai edition of its magazine India Property Times, which had a circulation of 50,000 copies in the US.

Mr Shrikanth said research had shown that nearly 40 per cent of the approximately one million visitors to their portal every month were NRIs looking for investment opportunities in India.

Dubai had been chosen for the show as NRIs living in the UAE remitted about US$ two billion back home every year and were looking for worthwhile investment opportunities back home.

The property show would spotlight real estate opportunities in Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Pune, Mumbai and Delhi.

''The NRI investors are predominantly looking at top ten Indian cities for putting their money,'' he said.

Stating that almost 40 to 45 per cent of the property transactions in India had an NRI angle, Mr Shrikanth said his company was planning to shortly start a service catering to NRI requirements such as selection of good property, documentation, arranging of site visits and periodic updates on the progress of the construction.

Disagreeing with the popular perception of a slowdown in the real estate market, Mr Shrikanth said that there was still good demand and almost 60 per cent of the projects being announced were immediately sold out.

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