Thu, 22 Nov 07
Investors in property on the lookout for emerging markets and bargain deals with high potential should look to
At a time when many markets have question marks against them,
The only thing holding people back, Mr Marr suggested, was the uncertainty about issues such as due diligence and the safety of investments, but this concern would soon be replaced by confidence, he said: "Confidence has been growing in India; all the big business are looking at India now. They know that if you can get in there you have a big potential market".
massive economic growth
It would certainly appear that the major businesses are moving in to the country in search of real estate. A report in the Economic Times in
The Economic Times states that the Indian real estate industry is due to grow by 33 per cent to be worth $50 billion by 2010. Mr Marr believes that in the midst of this growing market, the very best places of all are the special economic zones, such as Rudrapur, where the Indian government is offering various incentives to encourage investment and industrial development from overseas. "It's one of the hottest areas for investors to go to. You can get a two-bed [property] for £23,000 and a lot of Indian businesses will be based there," he advised.
On course to eclipse UK
A report by investment bank Goldman Sachs earlier this year stated that if the country continues growing at its present rate, its economy will be larger than
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