Boom Amid The Billion

As the second largest country by population in the world, India was always likely to make an enormous impact if it ever began to punch its weight economically. Now this appears to be happening, with rapid industrial and technological advancement, economic liberalisation and an influx of foreign investment, many of those looking to buy investment property will look at both the India commercial property and India residential property sectors. In the latter case, the potential market may come from three sources; the growing Indian middle class, ex-pats whose companies have invested in India and are in the country to work, plus of course the tourist trade in places such as Goa. A residential boom is indeed on the brink of taking place, according to Mark Bowen, UK sales manager for property firm Profile Europe. He told Property-report.com: "The residential property market is experiencing exponential growth right across India, but especially in urban areas and those close to the government's new specialised industrial zones." In these zones, which have been chosen as locations with special incentives to attract overseas investment, he stated that the figures quoted by the Bank of Baroda's chief economist put the increase in residential property prices at between 60 per cent and 100 per cent. He noted that the increase in the size of the middle class, the youthful age of most of the population (55 per cent aged under 25) and low interest rates were all, despite the price rises, helping the market to flourish. The prospects for major growth in India have also been hailed in a report by a group of Melbourne-based investors headed up by Doug Herzbrun, the global head of research for CB Richard Ellis Investors, the Melbourne Age reports. While this body named the land down under as currently having the second strongest property market in the Asia-Pacific region behind Singapore, India was included among those on the way up. In the real estate sector, the experts predicted, the area including India, China and south-east Asia would grow five-fold by 2020. Investors looking for the right place to invest in India may not, however, find it is in or around one of the major cities such as Delhi, Mumbai or Kolkata. Dajiworld reports that Trivandrum is the top centre for growth according to a Knight Frank report, followed by Mangalore. While the latter city may rhyme with the country's silicon capital, the key to its growth, the report stated, is the new airport and sea port, both of which have helped it experience growth to the point where, as the editor of the story puts it: "The land price has hit [an] all time high from nowhere to unimaginable level." Therefore it appears not to be in doubt that India is booming economically and the property market with it. But for those seeking the best investment, good research may uncover exactly where the best prospects are, which may not be the same as where one might expect them to be. In today's world Property investment is an excellent investment option especially investment in UK