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62% Indians say main motivation to buy property in India is ‘self ownership’, reveals survey by Indian Property Show organisers

United Arab Emirates: Tuesday, May 24 - 2011 @ 12:46

The survey was conducted amongst 15000 Indians spread across UAE to understand the reason to buy property in India, type of property, time frame to buy, budget and finances planned etc.

The Indian Property Show is back on popular demand and will be a biannual event this year. The show scheduled from 16th-18th June 2011 at World Trade Centre, Dubai.

Commenting on the survey, Mr. Sunil Jaiswal, CEO, Sumansa Events, said, “These Indians, who plan to own their home for the first time, are the young population in the age bracket of 30-35 years. They had migrated to UAE at an early age with lots of dreams and aspirations. Now is the time for them to translate their dreams into reality by owning their own houses in their home land inspite of having ancestral property. The time is also right as Indian property market is now much more matured and organised, home loans are available easily at competitive interest rates and developers are more customer centric.”

Mr. Anuj Malik, Sales Head – GCC for Unitech Ltd, sponsors and one of the prime exhibitors at Indian Property Show, said, “The survey figures are interesting but not surprising, global meltdown, unrest in few parts and job uncertainty may have also prompted the NRI’s in UAE to buy property in India. Catching up on these trends Indian realtors are going that extra mile to make homes that fulfill individual’s aspirations and are still affordable. We are participating in the upcoming Indian Property Show with aggressive pricing of INR 17Lacs onwards and providing all options such as first time buy, second home, investment option, budget homes & holiday homes.”

The survey shows that more than 87% of the buyers require finances from banks or other financial institutions. As such Banks & financial institutions such as HDFC, who are participating in the upcoming show, are hoping for good business.

“Through this exhibition we plan to meet potential customers and we foresee a strong demand as Indian property market has revived very quickly as compared to other markets in the world. This is due to strong RBI policies, Government planning and healthy credit history. HDFC has made it easier for the Gulf based NRI’s to apply for a loan to HDFC – India. HDFC through its office in Dubai and all the GCC countries through Service Associates, now offers advisory services in real estate finance to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India,” said Mr. Ajay Sachdewa, Regional Head-Dubai & GCC, HDFC.

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Tuesday, May 24- 2011 @ 12:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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