Category — India

 NEW DELHI: India’s booming real estate industry, growing at a scorching 30 per cent and estimated to touch $60 billion by 2010, has caught the fancy of global realtors and investors who have pumped in or are looking to invest heavily in the sector.

Indian real estate industry, which is currently pegged at 16 billion dollars, is witnessing increased interest from several international developers, primarily from the Middle-East, South-East Asia and Europe.

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By Sara Seddon Kilbinger
From The Wall Street Journal Online

The housing markets in the U.S. and the United Kingdom have been slowing, but in India, large-scale residential projects are only getting bigger.

India’s massive urban migration — it is estimated that 220 million people there will migrate to cities in the next decade — has triggered a slew of large-scale residential developments. The rural exodus is largely being driven by workers leaving India’s agricultural sector to take up more-lucrative employment in the rapidly expanding service and manufacturing industries.

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