'India Property Show' in Dubai to woo NRIs

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

Addressing a press conference here, IndiaProperty.com National Head (sales and operations) Shrikanth said nearly 35 exhibitors would put up 50 stalls and the footfall of more than 6,000 prospective NRI investors were expected at the show. The portal, a part of 'Consim' (Consumer Services through Internet and Mobile), formerly bharatmatrimony.com, would 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 40 per cent of the approximately one million visitors to their portal every month were the NRIs looking for investment opportunities in India.

Dubai had been chosen for the show as NRIs living in the UAE remitted about two billion US Dollars 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 there was still good demand and almost 60 per cent of the projects being announced were immediately sold out.

UNI

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