In fact, reports suggest the Indian real estate sector to be worth around $14 billion and currently growing at 30% per annum. In a recent conference in Chennai, M. Murli, CMD, Shriram Properties Ltd., stated, “The real estate market is not a bubble and thus I don’t expect it to burst. I expect the market to grow for the next 20 years. We need to enhance transparency and build trust.” Infrastructure development is taking place at breakneck speed and there is still a huge gap to fulfil. All over India, just 8-9 SEZs are operational, while around 230 SEZs have been formally approved. According to an article by Bundeep Singh Rangar, Chairman, Indus View, in FDI magazine, the retail sector is another huge catalyst, with more than 200 malls expected to be set up by 2008, creating 20 million sq. metres of retail space in India. Further, Rangat projects demand for commercial space to approach 112 million sq. metres by 2012-13. Interestingly, even in the residential segment in urban India, the housing shortage is expected to touch 22 million units by year 2008.
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative