Indian Property Show opens in Dubai
Dubai, June 20, 2013
The Indian Property Show, a major exhibition of thousands of properties including apartments, villas and plots from across India opened today (June 20) in Dubai, featuring 174 stalls and more than 100 real estate developers.
The 12th edition of the Dubai show is scheduled to run until June 22 at Dubai World Trade Centre.
Inaugurated by Sultan Butti Bin Mejrin, Director, General Land Department, Govt of Dubai, the show will feature a range of real estate properties with values from INR1 million ($16.9 million) to INR230 million.
Organisers are expecting around 17,000 visitors over the three-day property extravaganza which will be open to visitors between 11 am to 8 pm every day with free entry and provision for valet parking.
Among the many features of the show, Property Dhamaka is presenting buyers offers from leading participating developers that include discounts, amazing holiday packages for families, free property registrations and much more for on the spot bookings.
Other unique attribute of the exhibition are series of free seminars that are designed to offer interesting insights and analysis for the attending visitors and are conducted by some of the most influential property industry gurus, international fund managers, and legal advisers.
For the very first time, the organisers of the show are holding exclusive “Know Your City” seminars along with the regular ones on Legalities, Vaastu and Property Investments.
The new seminars aim to guide the buyers on key investment destination cities such as Mumbai, Pune, Delhi-NCR, Bengaluru and Chennai. The educative and interactive sessions will guide buyers on investment opportunities, real estate outlook, property trends, hotspots within key Indian cities, where and how to invest.
Sunil Jaiswal, CEO, Sumansa Exhibitions, organisers of Indian Property Show said: “NRIs can take advantage of the rate of exchange which today is at 15.78 for Dh1 and was at only 11.8 just a few years back which clearly means NRIs can get 33.72 per cent more for their money.”
“Whether you send money to support your family, make fixed deposit /bond or even better if you are planning to buy a property, this is an opportunity for you the NRIs to cash on.
“Apart from all time devaluated rupee, the recent approval of the long pending Real Estate bill by Govt of India has paved way for much transparent Real Estate sector in India. This will be implemented in the due course and will boost more confidence within the Indian Expats providing more transparent regulation and deals,” he added.
Santosh Tandel, regional head – Mena Region, Indiabulls, said: “Given the favorable exchange rates in the past couple of days, remittances back to India have again seen an upward trend. This would be a great positive factor for the expatriate community in taking their investment decisions.
“With rupee being near to an all time low, the customer can expect appreciation on both the currency as well as the real estate transaction in years to come. Our experience has been that good products at good price points are well accepted by the customers. GCC market has the ability to absorb units with prices from INR2 million to 200 million. The only thing is that the customer needs to see value.”
Nishant Singhal, director Strategy and International Operations at Investors Clinic, said: “With rupee at 58+ levels, I think it’s a good opportunity for NRIs; they can divert their funds towards investments in property.
“Temporary rupee depreciation has made property investments cheaper by over 25 per cent for NRIs over last 12 months. Though decision of buying property is not entirely related to exchange rate, but certainly it will boost the sector.”
Alok Anchan, manager Sales, Rajesh LifeSpaces, a leading developer in Mumbai, said: “The depreciating rupee is not the finest news for the domestic market but for NRIs the weakening rupee in conversion provides a good opportunity to park their spare funds in India now. Now, is a wonderful time to be a NRI if you invest in the country.”
“The decline in rupee by around 20 per cent against the dollar since August 2011 gives a NRI more hammer for the fate. The NRI category stands to gain from the weak currency as they would receive more rupee funds on conversion, which means that they buy the property approximately 10-20 per cent cheaper (depending on the currency) in this market.
“With rupee hitting all time low against dollar recently has proved to be a catalyzing factor towards NRI interest and as real estate has always proved to be a gradual appreciating asset, my personal bet is that major NRI investors will be eyeing the Indian property sector.
“We expect that the NRI market shall contribute around 35-40 per cent of the total investments in real estate in India this year,” he added.
ICICI Bank will be the exclusive home loan partners for this show. Partnering and supporting the exhibition as sponsors are Kamla Landmarc, Indiabulls, Rajesh LifeSpaces and Investors Clinic. – TradeArabia News Service