The Predicate

Indian Real Estate - The Next Big Thing?

Several desis here in the US have started looking at the Indian real estate market as a potential investment opportunity. Here are a couple of articles today at the Indian Economy Blog that talk about the Indian real estate: Real Estate the New IT? , Reality of Indian Realty!.

In Chennai and its surrounding areas, the land value has skyrocketed over the past few years. Agricultural land and dried up lakes are all now budding neighborhoods. This kind of unregulated growth has led to a lot of problems, as the recent rains in Chennai showed. In this context, it will be interesting to see what will happen when mega-malls like Wal-Mart enter the real estate market and gobble up space. Proper city planning, zoning and regulations are needed before the real estate market is opened up to foreign players. It looks like the boom we've seen in residential properties is just a precursor to the jump in commercial/office properties in the future. A statistic like 'Manhattan has more hotel rooms than the whole of India' clearly shows the vast potential in this sector.

Another thing to ponder: Will we finally see properties registered with their full worth with the government during any transaction, or will the value on paper continue to be just a fraction of the real purchase price?

- Balaji.

balaji - clock 01:48:13 - Friday, 13.01.06 - Indian - 8191x - pencil permalink
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  1. [1] from: KITKAT

    Tell me if Walmart opens in Chennai, and I will open a towing service and a car dump. That business will boom with all of Walmarts parking lot occupied by squatter-cars.

    Meanwhile, I have a apartment (flat as WE would call it) near MIT gate in Chromepet. I have been waiting to sell it for the past 5 years hoping that the proposed (and built) flyover would would open and the market would improve. Guess what, the flyover cant be opened until a court case by some shop owners who loose business will be settled.

    I would rather invest in a real estate company than buy on my own.

    reply to this comment Friday, 13.01.06, 06:14:47
  2. [2] from: balaji

    Kitkat, buying remotely still doesn't look good. Unless you have someone in India who knows the market well, it is difficult.
    BTW, every parking lot will have staffed security that no squatting will be possible!

    reply to this comment Friday, 13.01.06, 16:00:39

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