Realty India 2012, the premier exhibition of properties from across India, was inaugurated yesterday by Satish C Mehta , the Indian Ambassador to Kuwait. The two-day exhibition, open from 10 am to 8 pm, witnessed a huge turnout on the first day. Showcasing more than 200 distinguished projects from over 70 leading and reputable Indian builders, the show is an ideal opportunity for exploring and understanding the lucrative potential of real estate sector in India.

After touring the exhibition, the ambassador said, “After food, housing or shelter is the most important human need. Owning a home is also a part of the Indian culture. It gives us a sense of possession, self worth and security. We have a large number of Indians in Kuwait and for those who are abroad, finding a property in India is not easy. “

Elaborating, he said “an exhibition like this is a very good service for our Indian expatriates to see what is available, and make a choice along with banking and housing finance options.

This also gives rise to competitive pricing, good quality and a variety of products to suit various requirements and budgets. Eventually this helps Indian expatriates go back to their roots once they go back.”

The ambassador also appreciated the efforts of the organizers for arranging such an elaborate and informative exhibition and wished everyone participating and visiting the show the very best.

As an investment medium, the Indian real estate sector is among the most attractive options available in the country. Real estate industry experts point out that during the last two decades, there were at least two peak periods in real-estate development. The first was witnessed in the 1990s, during the boom years of IT growth and outsourcing services to India. When this thrust was beginning to slacken, the next push came from the government’s decision in 2005 to open up real estate sector to 100 percent foreign-direct investment.

An exclusive Kerala pavilion featuring top builders from across Kerala are also present at the exhibition.

The rapid growth experienced by the industry in the wake of the government’s decision was dampened only in 2008-2009 due to fall-out from the global economic crisis. Now, once again market indicators are pointing to steady resurgence in Indian real estate, and the sector, which employs more than 300 million people and has over 6,000 affiliate developers, is poised to contribute three to four percent towards India’s GDP.

The see-sawing of real-estate for short periods notwithstanding, investment in Indian real estate remains highly attractive. Real estate investments are likely to follow an upward trajectory in the long-term, given the huge pent-up demand for housing in the country.  A recent conservative estimate places current demand for over 25 million housing units in urban India alone, in addition, projections point to nearly 70 million Indians being added to housing demand by 2015. This persistent need for housing, together with demand for real estate from commercial, retail and hospitality sectors, clearly indicate  that real estate in India will continue on an upswing in the years ahead. Also, non-resident Indians looking to invest in Indian real estate can avail of inherent tax benefits. For instance, besides income tax and wealth tax exemptions for one self-occupied house, residential units if leased for a minimum period of 300 days in a calendar year are exempt from wealth tax.

The Realty India 2012 exhibition offers properties to suit every budget and lifestyle, and provides Indians looking to invest or buy property in the country with the widest selection of properties, prices and places, all under one-roof. The presence of leading builders with a reputable track-record also guarantees visitors to the show that in addition to the wide choice in prices, the properties on display carry the hallmark of quality construction and reliable delivery.

Today will be the last day of the two-day exhibition which is presented by Times Exhibitions and Events, a division of Indian media behemoth Times of India, and Mindspace Events and Exhibitions from India, in association with Response Events and Exhibitions, Kuwait.