The boom in real estate sector continues into the financial year 2006. This growth got further accelerated when the Government of India allowed 100% Foreign Direct Investment (FDI) in the construction and development sector.
The global real estate group Knight Frank has ranked India 5th in the list of 30 emerging retail markets and predicted an impressive 20% growth rate for the organized retail segment by 2010. The organized segment is expected to grow from mere 2% to 20% by the end of the decade, it said. A report by Merrill Lynch said that the number of malls in Mumbai, Bangalore, New Delhi, Hyderabad, and Pune are expected to grow from 40 to about 250 by 2010. Simultaneously residential housing is also happening independently as a corolla View the rest of this article
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