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India: Amazing growth predicted

Jaimie Kanwar

Merrill Lynch has made a stunning prediction about the Indian property market...

According to the company, the Indian property market will experience a 700% increase by 2015.  Changes in Indian property law will allow UK investors to take advantage of this predicted seven fold increase, and according to one expert, the city of Rudrapur is perfectly placed to benefit.

Andrew Fassnidge, Managing Director of Navyroof.com, commented: “With a large influx of people to Rudrapur, a severe housing shortage can be expected. The Government of India has already reported a 19.8 million unit housing shortage in the country, offering a huge investment potential for UK property investors looking for options as exorbitant UK property prices and the credit crunch limit investment in the UK.

“With the UK market in decline and investors increasingly looking further abroad, India is a very attractive proposition. 'India Inc.' has invested approximately £1 billion (€ 1.27 billion) in Rudrapur, making it the next big address for industry. What Bangalore is to IT, Rudrapur will soon be to manufacturing.”

He concluded: “With the law change it is now possible for foreign buyers to invest in India and the Indian property market is primed for a phenomenal boom. Merrill Lynch has predicted the property market will increase from a value of £ 6 billion (€ 7.63 billion) in 2005 to £ 45 billion (€ 57.19 billion) by 2015. Capital appreciation will not be overlooked by the astute investor here.”