Friday, 3 November, 2006: Dubai: Showcasing an estimated Dh17 billion worth of property from across India, the Indian Property Show opened this week, bringing together more than 80 real estate and financial agents from the sub-continent.

Held at Dubai's Airport Expo from Wednesday, the four-day event includes daily seminars on investment in property aiming to bridge the information gap and build an understanding of the Indian property market.

"Owning their own property is a dream for many Indians living in the Gulf, each nurturing a desire to own a property either in the metros or in their state of origin," said Sunil Jaiswal, CEO of event organisers Sumansa Events.

"With over 1.4 million NRIs in Dubai, it became an obvious choice for us to hold the show here. We are focusing on gathering a critical mass of property developers and real estate agents from all over India to provide a comprehensive overview of real estate investment opportunities in India."

He added: "Considering the fact that NRIs in Gulf most likely seek to buy property in their state of origin, the show will be represented by builders from different regions.

"With lawyers and financial consultants also a part of the mix of exhibitors, visitors will be well-informed about the options available to them."

Jaiswal said two main factors inhibit an NRI from making a decision accurate information and direct access to real estate developers from India.

"It's a phenomenal market, but in some ways it is under-developed and there are a lot of grey areas the lack of land registration being one," he said.

The entry of Dubai-based real estate agency Better Homes into the Indian market is good news for the country, according to Jaiswal. He said there is currently a significant lack of professional property management equipped with up to date data and statistics.

Jaiswal said the property show will feature services such as home finance providers, lawyers, and 'vastu' consultants.

Organisers expect more than Dh500 million worth of business to take place at the event, with prospective property buyers expected to attend from UAE and neighbouring countries.

"The retail market in India has been growing due to increasing demand from retailers, higher disposable incomes and a shortage of quality space coupled with lower interest rates, easy availability of housing finance and growing salaries," said Jaiswal.

Source: http://archive.gulfnews.com/articles/06/11/03/10079449.html