Mumbai & Panvel property are the most attractive India investment property destinations!
Why is India investment property so attractive? Of all the talked about and said to be strongest future economic powers which include Brazil, Russia and China, only India is set to sustain strong and high growth into the later half of this century with its economy expected to be bigger than Japan by 2023 and by 2042 even bigger than America.
India’s largest cities New Delhi and Mumbai, will be the world’s secong and third most populated by 2015 and therefore will see huge increases and amounts of retail sales potential.
The government in India has taken extensive steps to help and encourage the growth of the economy. Some of the iniatives taken to encourage and enhance domestic demand over the last decade are -
1. Regulation Reforms spuring economic growth.
2. Investor confidence is high encouraging Foreign Direct. Investment (FDI) in all sectors
3. Consumerism encouraged to boost domestic demand
4. The investment and trade economy has been opened up
5. Less bureaucracy and dismantled controls
6. Inverstment from the private sector is actively encouraged thereby helping to reduce public sector monopolies.
Economy growth:
India is the 7th biggest global economy in terms of Gross 9.40% Domestic Product (GDP) and has increased around 8% a year for the past 3 years. The World Bank forecasts growth of India’s economy in the next financial year is at 5.8% while the global economy is expected to be only 0.9%.
The growth of Indias economy is being spurred on by continued performance of services sector. Growth in industrial production is expected to be up 10%, up from 8.3% in 2007, with the market for food in India grow 2 fold by the year 2025 revenues expected to increase to US$5.37bn in the next 4yrs from US$1.6bn in 2008.
Real estate Investment Hotspots
These Strong economic indicators are helping to make more attractive the property investment market in India, some of the most current popular investments include Mumbai property and the surrounding areas like Panvel.
Known as Bombay before, it is the capital of Maharashtra and is known as the commercial capital of India. Originally a set of islands the city has emerged into an exciting business hub, housing corporate headquarters of many Indian companies and as such is a hot spot for Mumbai property investors.
Panvel property is also very popular as the city is in the Raigad district in the Indian state of Maharashtra and is a gateway of Konkan region.
Panvel is also only of 20 km from Mumbai and 15 km from Karjat and with its strategic location advantage and infrastructure growth plans is set to emerge as a key satellite township to Mumbai and therefore a thriving property investment market.