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Indian Real Estate News
Real Estate Remains the Most Preferred Investment Option
Source: news.indianpropertyreview.com Feb 23, 2011
Around 75% young Chandigarh residents employed in public sector undertakings, working in multinational corporations or having different types of businesses or professions prefer to invest in real estate. This was revealed in an Associated Chambers of Commerce and Industry (ASSOCHAM) survey titled "Latest Investment Trends Among Urban Professionals", which was carried out in five cities. Chandigarh was second to Delhi when it came to the importance of real estate as an investment option.

The urban professionals included doctors, lawyers, businessmen and those employed at offices. The survey was carried out between September 2010 and January 2011. Chandigarh-based professionals divulged that they preferred to invest in the real estate business for the long run as on one hand, it guaranteed them higher future returns and on the other, it helped them stay away from risky investment options like stock market, equity, mutual fund and gold.

ASSOCHAM's interaction with big players in the realty sector found that even expatriates preferred to invest in property in and around the Tricity and that had increased the value of areas like Zirakpur, Pinjore, Kharar, Kalka, Kurali, Ropar, Morinda and Banur, where real estate giants are competing to build residential and commercial complexes. ASSOCHAM secretary general DS Rawat said, "Realty is India's money-making sector as it allows urban individuals to pay monthly rental and provides them with tax benefits as they repay loans."

He added that upsurge in the property prices coupled with growth and development in the region were other significant factors that attracted working individuals to realty. While many of the respondents in Chandigarh stated that investing in national saving certificates (NSCs), fixed deposits, post office monthly income scheme (MIS), bonds, debt instruments represented "old school" investment concepts, prudent investors were trying to strike a balance vis-a-vis exposure in real estate, gold deposit schemes, mutual funds and life insurance to achieve financial safety, security and independence, the study said.

Tag: Chandigarh, Delhi, Gurgaon, Mumbai, Noida, Pune, Real Estate Developers, Real Estate India, Real Estate Trends
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