Opportunities Galore
The Indian retail realty sector is projected to grow at around 15
per cent year-on-year over the next 3-5 years. If the sector does
indeed manage this growth, it will touch Rs 34 trillion (US$ 544.73
billion) by 2016. India’s office space stock is expected to rise by
40 per cent to 642.2 million sq ft by 2017, according to a report
by real estate consultancy Knight Frank India. The current Indian
market offers some of the most competitive rates in the AsiaPacific region, according to a report by property services firm DTZ.
The report also states that Indian cities will have some of the
fastest rental growths in the region over the period 2013-17, but
will remain among the most competitive. The share of luxury retail
space in India will be 1.4 per cent by 2015, according to a report
by real estate services firm Cushman & Wakefield. NCR and
Mumbai, areas that have embraced the mall culture, are the two
most favoured destinations for luxury retailers. The construction
development sector, including townships, housing and built-up
infrastructure garnered total FDI worth US$ 22,671.95 million in
the period April 2000-August 2013. Construction (infrastructure)
activities during the period received FDI worth US$ 2,280.95
million, according to the Department of Industrial Policy and
Promotion (DIPP).
Proactive Government Policies
Under the existing FDI policy, 100 per cent FDI in the construction
development sector is permitted throu v