India Property Show draws crowd

DUBAI — The two-day India Property Show 2011 opened in Dubai on Friday with non-resident Indians, or NRIs, taking keen interest in scores of projects suiting their budget from some two-dozen cities of India showcased by more than 30 leading developers, promoters, builders and real estate consultants.

The show, being held at the Radisson Blu hotel, was inaugurated by Paras Shahdadpuri, Chairman of the Nikai Group of Companies. He is a former Indian diplomat and former president of the Indian Business and Professional Council Dubai. The event was organised by Indian property website magicbricks, a Times of India Group company.

Friday, being a weekly holiday, NRIs and their families started arrving at the show even before it was officially opened to discuss with exhibitors the projects in various cities including Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kochi, Bhuwaneshwar, Goa, Noida, Gurgaon, Nagpur, Nashik, Indore, Patiala, Nainital, Ooty, Alibagh, Karjat, Kasara, Kharadi, Murbad and Talegaon.

“By holding these property exhibitions, we are trying to give a home with the best options and amenities across India to every Indian who is living in the country or abroad,” magicbricks Business Head Sudhir Pai said in a message. The website’s National Sales Manager, Vijay Singh Shekhawat, said that the Indian property market had maintained its steady momentum for the last two years.

The pace of its growth depended on the local market, he said, explaining that the market had peaked in Mumbai and a correction was expected soon, the market was under-priced in Hyderabad, and it was poised for growth in Bangalore.

He said that the Internet, used by around 100 million people in India, was increasingly becoming popular as a medium in the property sector. “Property will take off in a big way in India and our website is doing extremely well,” Shekhawat said.

Imran Sharief, Head of Marketing and Events at magicbricks, said that the current show was the seventh organised by the company in Dubai in three years. Majority of the 31 exhibitors are showcasing their projects for the first time. Each exhibitor has brought four to five projects for the NRIs to select from, Sharief said.

He said that the Pune property Show held by magicbricks in Dubai last October last year has proved to be a major success and that it would be held again in Dubai in October this year. He said that they were planning to hold a South Indian property show in the coming months. EmaarMGF is focusing on its 109 acre Marbella premium luxurious four- to five-bedroom villas community project on the Golf Course Extension Road in Gurgaon, Amitabh Dhawan, the company’s Assistant Vice-President for Sales, said.

He said that plot sizes range from 267 sq. yards to 500 sq. yards and the built up area from 5,600sqft to 8,200sqft.  “We have a few 1,000-square yard villas as well that can be internally customised by the buyer,” he said.  He said that 100 of the 200 villas in Marbella had been sold since the project was launched five months ago. It is scheduled to be ready by the end of 2013.

EmaarMGF also has a large number of projects in the NCR region as well as from Jaipur, Indore, Mohali and Chennai. Prices range from Rs8 million to Rs60million.

Suresh Chand Jain and Sons is presenting its IREO Victory Valley residential apartments project in Sector 67 of Gurgaon and in close proximity to the Golf Course Extension Road. Ankur Jain, partner of Suresh Chand Jain and Sons, said that the project is spread over 25 acres and has 25 towers. Of them, three are highrise and others are mid and low rises.

“We have established new benchmarks in Gurgaon. One of the towers with 51-floors will be the tallest tower of Northern India. The club is spread over 100,000 sqft and the project consists of various landscape concepts in one single project,” he said.

He said that L and T contractors has started construction work for completion in three years. Prices range from Rs20 million to Rs35 million.  The area of three- to four-bedroom simplex and four-bedroom duplex apartments varies from 2,400 to 6,900 sqft.

Jain said that they also have projects in Ludhiana, Pune and Mohali.

He said that the US-based IREO is the first and largest FDI private equity fund with a corpus of $2 billion and dedicated to the Indian real estate sector.  Over the past six years, it has evolved into a financier and developer of its projects.

Jaypee Greens is showcasing three projects, its Officer for Sales Rakesh Arora said. The Jaypee Greens Wish Town in Noida is a 1,200-acre township of apartment buildings, villas and independent plots for 20,000 families. It has nine- and 18-hole golf courses. Prices of two-, three- and four-bedroom properties with premium options start from Rs5 million.

The Jaypee Greens Greater Noida project in Greater Noida also has two-, three- and four-bedroom apartments and villas as well as independent plots. The scheme on 500 acres will have an 18-hole Greg Norman Golf Course, the third-biggest in Asia. Prices start from Rs10 million.

Jaypee Sports City is a 5,000-acre sports township on the Expressway from Noida to Agra. It will have a cricket stadium for 40,000 people extendable to 100,000 people, a Formula One track on which the first event will be held in October this year. It will also have two-, three- and four-bedroom apartments and villas as well as independent plots. Prices start from Rs3 million.

Dreamz Shapers is representing Amrapali Dream Valley in Greater Noida, a project of low budget villas. Amit Gupta, Director of Dreamz Shapers, said that the project is spread over 100 acres and offers three types of expandable three- to six-bedroom villas of sizes 1,690sqft, 2,400sqft, and 2,950sqft. The project has 1,000 villas and it is scheduled to be completed in two years. It will have a Dhoni Cricket Academy. Khaleejtimes