India property show in Dubai next week

DUBAI, June 15: Indian property developers expect to generate business worth USD 54 million during 3-day exhibition scheduled here from June 21-23, organisers have said.
They are looking for higher investments from expatriates after the sharp slide of the rupee against the US dollar and the dirham. The 10th edition of the show will have over 70 developers displaying over 300 projects from across India and is expecting footfall of 15,000 interested buyers.
The Indian Property show will feature properties ranging from Rs 8 lakhs to Rs 9 crores and more while exhibiting diverse offerings of various developers from budget to luxury properties, organisers Sumansa Exhibitions said.
The show will have participants such as Mantri Developers, Nirmal Lifestyle, Hiranandani, Ansal API, Ireo Pvt ltd, Amrapali, Brigade Group plus Investors Clinic, Assetz Homes and Sobha Developers Ltd. Leading banks have also confirmed participation.
Sumansa Exhibitions CEO Sunil Jaiswal said the magnitude of the exhibition has grown as this year the focus has shifted on affordable properties as Union Budget has allowed external commercial borrowings which will allow liquidity to the builder.
“The homes are expected to be affordable on the outskirts of the tier 1 cities. At the same time property prices in metros and tier 1 cities are expected to go up due to additional burden of service tax and excise duty,” he said.
With recent reduction in interest rates, home loans will be cheaper and depreciated rupee will tilt the balance in favour of NRIs, Jaiswal said.
“The momentum of Indian property will be kept going on by NRIs for whom the current scenario is conducive as long as investment in Tier 2 & 3 cities are concerned,” he said.
Honey Katiyal of Investors Clinic, one of the prime exhibitors and sponsors of the show, said that Indian Property show has been a spring board for the company to establish its presence in the UAE.
“In just 6 months of our operation we have witnessed 20 percent increase in demand for Indian properties and have interacted with more than 1,000 NRI families. With rupee depreciating we expect lot of queries to be converted in actual sales especially for Delhi-NCR, Mumbai and Bangalore,” Katiyal said.
This year the seminars at the show aim to guide the buyers on the real estate markets within India along with the benefits of investing now. Some of the cities in focus are Mumbai, Pune, Bengaluru, Chennai, Gurgaon, Noida and Kochi. (PTI)

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