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Indians In Singapore Lured To Property Back Home By Rupee's Drop

India's property market may attract $3 billion from overseas buyers this year, almost double last year's $1.6 billion, Mr Shobhit Agarwal, Joint Managing Director at the Indian unit of Jones Lang LaSalle Inc., the worlds second-biggest, publicly traded commercial-property broker, said in an interview in Mumbai in December. About one-third typically comes from individuals like Sharma and two-thirds from investors, he said. Housing Development Finance Corp., India's largest mortgage lender and the organizer of the annual Singapore home fair, said the number of developers participating rose 26 percent over last year, while there were 27 percent more attendees. Among those taking part were DLF Ltd., Unitech Ltd. and Emaar MGF Land Ltd. HDFC conducts similar fairs in Kuwait, Dubai where the next is scheduled for April and in London.

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05 Mar 2012

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