Bangalore, May 23 (UNI) Investments in the Indian real estate market were expected to touch USD 20 billion by 2010 according to consultancy firm Deloitte.
The sector, which was growing at an annual rate of 30 per cent and currently worth USD 12 billion, would get a further boost from the Securities and Exchange Board of India's (SEBI) Real Estate Mutual Fund (REMF) and the Real Estate Investment Trust (REIT) regulations, according to a release here today.
The Indian real estate industry's development has been propelled by economic advancements, favorable demographics and the liberalized foreign direct investment (FDI) regime. Moreover, the recently introduced regulations will play a critical role in positioning India as a key destination for investors worldwide.
''The Indian real estate sector has emerged as one of the most appealing industries for both, domestic and foreign investors and is presently the second-largest employing sector linked to about 250 ancillary industries,'' said Jayesh Kariya, Partner, Deloitte Haskins&Sells. ''Currently, investments of over USD 1400 billion are being made by REITs globally and we expect a these investors to start looking at Indian realty'' he added.
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