The Indian property market has witnessed a remarkable growth in 2023, attracting the attention of both domestic and international investors. Among the notable trends, there has been a significant increase in the interest of non-resident Indians (NRIs) in investing in their future homes in India.
The property sector in India also witnessed a boom in commercial property market in its nine-month period of 2023.
Khaleej Times and Realty + from India will capture all the current trends and provide an insight into future trends of 2024 in a jointly organised forthcoming exhibition ‘The UAE-India Real Estate Show 2023’ scheduled on November 25 and 26 at the prestigious JW Marriott Marquis Hotel, Business Bay, Dubai. The two-day exhibition will kick off at 10:00am and close at 1:00 pm.
The event will be graced by representation of senior government officials both from the UAE and India, along with popular developers from both nations. The event is endorsed by India Club, UAE Taxation Society, Institute of Chartered Accounts-Dubai, Gulf Maharashtra Association, All Kerala Colleges Alumni forum, Jain International Trade Organisation (JITO), IBPC-Business Group and Rajasthani Business Group. The organisations will participate and promote the realty exhibition to gain maximum traction among its community members.
The two-day exhibition will have panels focused on Indian real estate investment opportunities galore; potential of Indian office properties in your portfolio; and a guide to real estate buying in India. The exhibition will also throw light on Indian realty growth hubs like Mumbai, Delhi — NCR and Bengaluru. The growth prospects of Tier II cities — Pune, Ahmedabad, Hyderabad will be deep-dived in the exhibition.
The event will feature participation from over 50 Indian developers, showcasing their properties. Additionally, the UAE developers and agents will also be taking part in this grand event. The IRES attendees will get a glimpse at current trends in Indian property sector, which has recorded a hike in rents boosting investment potential for NRIs.
According to research data released by real estate consulting firm Anarock Group, housing rents continue to soar across the top seven cities post pandemic, IT/ITeS hubs such as Bengaluru, Hyderabad, and Pune have seen up to a 31 per cent rise in rental value in the first nine months of 202. While Mumbai and Pune accounted for 51 per cent of home sales among the top seven Indian cities in the third quarter (Q3) of 2023 as new supplies increased despite rising construction costs, property consultant Anarock said in a report.
House sales in the top seven Indian cities Pune, Delhi NCR. Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Chennai, and Kolkata jumped 36 per cent to 1,20,280 units, year-on-year (YoY) in Q3, compared to 88,230 units in the same period a year ago.
The Indian property market’s robust growth in 2023 presents a wealth of opportunities for investors, both domestic and international. NRIs are increasingly drawn to invest in their future homes in India due to a combination of economic, cultural, and financial factors. As the market continues to evolve, staying informed about the latest trends and investment strategies is essential for NRIs looking to make the most of this burgeoning opportunity in the Indian real estate sector.
The IRES will also guide potential buyers on how to book the properties with ease as attendees can look forward to exclusive on-the-spot booking discounts, a mega raffle with numerous prizes awarded every hour, Dh500 vouchers for every visitor, and the convenience of free valet parking and a complimentary F&B Lounge access.