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Property show targets NRIs in Dubai

Property show targets NRIs in Dubai
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First Published: Sun, May 11 2008. 11 28 AM IST
Updated: Sun, May 11 2008. 11 28 AM IST
PTI
Dubai: Various township development projects and designs of residential complexes were displayed at a property show here which aimed at attracting investments from NRIs.
The three-day long show ‘India Realty Expo 2008´, which opened on Thursday, was represented by 35 Indian property developers and home financiers.
The show, which is organized by government-backed Maharashtra Chamber of Housing Industry (MCHI) twice a year since 2002, saw a total sales of Rs5 billion.
Zubin Mehta, CEO of MCHI, said his company expects to sustain growth in the number of transactions closed through the exhibition.
Mehta said the most sought after properties are in India’s major cities like Mumbai, Bangalore and Kolkata and the value of property has appreciated by 60% in urban centres and 40% in the suburbs.
Earlier, India Property Show 2008 in Dubai, which was organized by IndiaProperty.com, saw huge success attracting property investment worth Rs 250 crores from NRI investors. The exhibition featured over 100 properties from all over India.
Murugavel J, founder & CEO, Consim Info Pvt Ltd, the holding company of IndiaProperty.com said: “Over 40% visitors to IndiaProperty.com are NRIs from UAE, looking for properties in India in preparation for their return to India at some point in their lives.
India Property Show offered them the ideal platform to interact with the top builders in their respective region and enabled them to get a feel of the properties first hand.
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First Published: Sun, May 11 2008. 11 28 AM IST