Rising incomes, easy financing and population growth are driving demand for housing and luring overseas investors to India, says a new report by Ernst and Young. It puts the worth of the Indian real estate market at $12 billion (Rs 48,000 crore) and pegs the annual growth rate at 30 per Com. The report, commissioned by the Federation of Indian Chambers of Commerce and Industry, also says that India will have at least 50 property-related initial public offerings in the next year as the real estate industry booms
Courtesy: HT March 17, 2008
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