Property show clocks spot business of Rs 60 cr

Dubai, Nov 5: The Indian Property Show, which brought together more than 80 real estate and financial companies from the subcontinent, saw record spot business worth Rs 60 crore and inquiries estimated at more than Rs 600 crore.

Sumansa Events, which organised the four-day event that concluded yesterday, said the exhibition showcased 17 billion dirham worth of property from India and attracted more than 11,000 visitors.

Sunil Jaiswal, CEO, Sumansa Events, said the show sought to address two factors including accurate information and direct access to real estate developers from India that would help NRI's in taking decision.

He said the Indian real estate sector is one of the hottest investment options, and rates higher than bank deposits or bonds where the return ranges between 5.55 and 6 per cent.

The retail market has been growing due to higher disposable incomes, lower interest rates, easy availability of housing finance and growing salaries.

UNI