Business worth Rs 300 crores expected at India property show in Dubai

DUBAI: A property show here featuring over 100 developers from India is expected to garner business worth Rs 300 crores in the three-day extravaganza, organisers have claimed.

Around 17,000 visitors are expected to witness properties ranging from Rs 1 million-230 million.

Organisers said they expect business worth Rs 3 billion over the three days beginning from today on the back of steep fall in rupee value against dirham.

This is the 12th edition of the Dubai show. Free seminars designed to offer insights and analysis for the attending visitors and are also being organised by industry gurus, fund managers and legal advisers.

For the first time, the organisers of the show are holding exclusive 'Know Your City' seminars along with the regular ones on legalities, vaastu and property investments.

"NRIs can take advantage of the rate of exchange which today is at 15.78 for 1 dirham and was at only 11.8 just a few years back which clearly means NRIs can get 33.72 per cent more for their money," Sunil Jaiswal, CEO, Sumansa Exhibitions-Organisers of Indian Property Show said.

"Apart from all time devaluated rupee, the recent approval of the long pending Real Estate bill by Govt of India has paved way for much transparent Real Estate sector in India. This will be implemented in the due course and will boost more confidence within the Indian Expats providing more transparent regulation and deals," he said.

"The depreciating rupee is not the finest news for the domestic market but for NRIs the weakening rupee in conversion provides a good opportunity to park their spare funds in India now," Alok Anchan, Manager Sales , Rajesh LifeSpaces, Mumbai's Leading developer, said.

"We expect that the NRI market shall contribute around 35-40 per cent of the total investments in real estate in India this year," he said.