NEW DELHI :
Indian real estate sector attracted investment of ₹17,682 crore in the January-March period, highest quarterly funding since 2008, on strong inflows from foreign investors in commercial assets, according to property consultant Cushman & Wakefield.
The investment was up by 7% from ₹16,528 crore in the corresponding period last year.
Foreign funds investment in Indian real estate rose 81% to ₹11,338 crore in the first quarter of 2019 calendar year from ₹6,260 crore in the year-ago period, the data showed.
"Higher participation of foreign investors this quarter is a signal towards sustained interest in the country's real estate story backed by increasing transparency and friendly investment policies," Cushman & Wakefield (C&W) India Country Head & Managing Director Anshul Jain said in a statement.
Office and retail segments continued to attract high investment, he said, adding that warehousing/logistics segment was also providing opportunities for investors.
"The first successful REIT (real estate investment trust) listing has opened another avenue for investors to participate in the momentum visible in office markets while also reinforcing the attractiveness of Indian realty," Jain said.
Asset-wise, C&W said the housing segment got 57% less investment during the January-March quarter of 2019 at ₹3,697 crore from ₹8,518 crore in the year-ago period.
The funding inflow in residential sector got affected owing to liquidity issues of NBFCs which have been a major source of refinancing and lending to this asset class in last 4-5 years, the consultant said.
Investment in office properties rose to ₹7,925 crore from ₹6,100 crore during the period under review.
Hospitality segment got ₹3,950 crore in the first quarter of 2019, an over three-fold jump from the year-ago period at ₹1,200 crore.
Investment flow in retail real estate jumped to ₹1,000 crore from ₹250 crore, and that of in mixed-use projects to ₹350 crore from ₹110 crore.
Industrial segment (warehousing and logistics) received ₹760 crore as against ₹350 crore during the review period.
This story has been published from a wire agency feed without modifications to the text.