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Builders
in India are now increasingly targetting non-resident Indians
in the US as most of the NRIs are not keen on purchasing
properties there with the recession in American economy.
Several NRIs fear they won't get good returns since the slump
is likely to continue even in the American real estate sector.
Volatility in the stock market and frequent fluctuation in
gold prices are prompting them to look at Indian real estate,
which is considered to be the safe zone for their long term
investment
plans.
The builders also feel that it's the right time to showcase to
them the investment opportunities in India and its provinces.
Some of them have decided to participate in Indian Property
Exhibitions, which will be organised in California, Seattle
and Dallas between May
10-18.
"Most of the IT professionals and other NRIs are
planning to come back to India with the recession in the US.
So, they want to settle down in India since it provides them
an opportunity to start the career afresh," said Mr Manoj
Agarwal, executive director of DSL Infrastructure Private
Limited. "The Indian NRIs who have invested earlier got good
returns with the real estate boom in the cities. So, we expect
that others will also follow suit with the latest property
exhibitions," he added. Chennai based Priya Publication, which
publishes Indian Real Estate magazine, has been playing a key
role in organising the property shows in the United
States.
We would like to take the opportunity to welcome all the
community members living world wide to our real estate
portal.(NRI)
Construction of multistoried buildings has resulted in
disruption of the environment. It has worsened the traffic
problems and exerted pressures on the infrastructure
facilities such as water, power, and drainage and so on. These
amendments were effected on the pretext of population
explosion, skyrocketing of land values, etc. But not even 5
per cent of the 68 lakh households in the State can afford to
live in exorbitantly expensive apartments like Apartment in
Tripunithura proliferating even in suburban areas. Low-rise
high-density configuration is our traditional urban form,
which encourages self-help, low-cost incremental housing and
generates much more job opportunities. The zoning and building
control regulations now in force in the State are more
builder-friendly than people-friendly. The first step is to
remove the above deficiencies should begin with strictly
enforcing rules and regulations to ensure that the
construction and occupation of multi-storeyed apartments do
not lead to a crisis in the surrounding areas.
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