Emerging countries considered for real estate acquisitions in 2010 compared to 2009 (last year’s survey). India is ranked 2nd behind Brazil in a survey conducted by Association of Foreign Investors in Real Estate (AFIRE).
This shows even though India has laws governing the Acquisition and Transfer of immovable property in India by Non-Resident Indians (NRIs), a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin. The general feeling is that investing in Indian Real Estate is very positive, and within the State invested project areas especially good.
Saturday 30 January 2010
Monday 25 January 2010
The first official application for requisition of land
The Kerala state government received on the 18/01/2010 the first application for the requisition of property in connection with the Vizhinjam International Seaport project. The first phase, 120 hectares will be divided into 45 hectares of land for road connectivity purposes, 40 hectares for setting up a truck terminal and warehousing facilities and 35 hectares for rail connectivity.
At the end of february, the Maritime States Development Council (MSDC) meets in Thiruvananthapuram. State Ports Secretary Sanjeev Kaushik,who is also the CEO of Vizhinjam International Seaport Ltd (VISL) indicated that there will be a special meeting in connection with the project. With the fact that the government has announced fresh global tenders for the flagship project, the Vizhinjam ICTT, it seems the long awaited project has began.
This will give a huge boost to the real estate market in Kovalam, this is the right time to make your moves and utilize this opportunity to strike golden deals in the Real Estate business, take a look at some of the opportunities HERE.
At the end of february, the Maritime States Development Council (MSDC) meets in Thiruvananthapuram. State Ports Secretary Sanjeev Kaushik,who is also the CEO of Vizhinjam International Seaport Ltd (VISL) indicated that there will be a special meeting in connection with the project. With the fact that the government has announced fresh global tenders for the flagship project, the Vizhinjam ICTT, it seems the long awaited project has began.
This will give a huge boost to the real estate market in Kovalam, this is the right time to make your moves and utilize this opportunity to strike golden deals in the Real Estate business, take a look at some of the opportunities HERE.
Tuesday 19 January 2010
Affordable real estate will drive growth in Indian property market in 2010, The 15 billion dollar Indian realty market is expected to reach $90 by 2015. Affordable property is set to play a key role in the residential real estate sector in India in 2010 on the back of a significant pickup in demand, according to the country’s developers association the Confederation of Real Estate Developers’ Associations of India (CREDAI).
By the end of 2010 we expect prices in the real estate sector to roll back to at least 90% of the level prevalent in 2007/08. CREDAI estimates that values have fallen by 20 to 35% on average across different regions in the country since August 2008. Real estate growth expectations are based on an assessment of GDP growth by CREDAI, the global revival, domestic sentiments and on the assumption that there would be no major unforeseen fluctuations in the economy or natural calamities this year
The Government’s ongoing efforts to push growth in the infrastructure development projects like conversion of the NH-47 and Kovalam - Kazhakuttam bypass into a four lane-high speed corridor, the Vizhinjam International Container Transshipment Terminal (ICTT), the new Airport Terminal on the NH Bypass side at Chackai, the second Railway passenger and cargo Terminal at Kochuveli, Veli Water Transport Terminal, a large International Convention Centre is coming up at Akkulam. Being built by a joint venture between Raheja Group and the Government of Kerala, it will further boost the supporting infrastructure of Technopark. The growth of the information technology sector will help drive the growth of housing, the future prospects of Thiruvananthapuram are bright. Apart from the IT/ITeS interest, real estate prices here are expected to be boosted by tourism, especially medical tourism. Industrial projects such as KINFRA Apparel Park, Film & Video Park and Kerala Automobiles are also expected to impact real estate prices positively. Upcoming locations here include the Kazhakootam-Kovalambypass. If on the other hand, you are looking for land to earn from tourism, buy land in coastal Kerala.
India is a keen competitor in the global land property market for the variety of land it can offer, the variable sizes and the attractive prices. Whether you are planning to set up a school, resort or a factory, you can buy exactly the piece of land that may be in your mind.
Be careful however, not to trust the first real estate agent you may come across. Read, enquire and only then buy land in India.
By the end of 2010 we expect prices in the real estate sector to roll back to at least 90% of the level prevalent in 2007/08. CREDAI estimates that values have fallen by 20 to 35% on average across different regions in the country since August 2008. Real estate growth expectations are based on an assessment of GDP growth by CREDAI, the global revival, domestic sentiments and on the assumption that there would be no major unforeseen fluctuations in the economy or natural calamities this year
The Government’s ongoing efforts to push growth in the infrastructure development projects like conversion of the NH-47 and Kovalam - Kazhakuttam bypass into a four lane-high speed corridor, the Vizhinjam International Container Transshipment Terminal (ICTT), the new Airport Terminal on the NH Bypass side at Chackai, the second Railway passenger and cargo Terminal at Kochuveli, Veli Water Transport Terminal, a large International Convention Centre is coming up at Akkulam. Being built by a joint venture between Raheja Group and the Government of Kerala, it will further boost the supporting infrastructure of Technopark. The growth of the information technology sector will help drive the growth of housing, the future prospects of Thiruvananthapuram are bright. Apart from the IT/ITeS interest, real estate prices here are expected to be boosted by tourism, especially medical tourism. Industrial projects such as KINFRA Apparel Park, Film & Video Park and Kerala Automobiles are also expected to impact real estate prices positively. Upcoming locations here include the Kazhakootam-Kovalambypass. If on the other hand, you are looking for land to earn from tourism, buy land in coastal Kerala.
India is a keen competitor in the global land property market for the variety of land it can offer, the variable sizes and the attractive prices. Whether you are planning to set up a school, resort or a factory, you can buy exactly the piece of land that may be in your mind.
Be careful however, not to trust the first real estate agent you may come across. Read, enquire and only then buy land in India.
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