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.