16.10.2008 - Indian property market set to take off
From Investmentinternational.com: The Indian property market is set to “take off” according to Graham Wood, project director of Cityscape, who are organising a major property exhibition in Bombay in December. “In spite of the global economic downturn, India has an enormous demand for residential, commercial, hospitality, industrial, retail and infrastructure development. It offers outstanding return on investment for global real estate investors and developers.” Wood notes that there is a shortage of 22.4 million residential units in the country. “Over the next 10–15 years, 80 to 90 million housing units will have to be constructed with a majority catering to middle to lower income groups.” An estimated $25bn investment will be required over the next five years in urban housing alone..... Full Article: Source