50% of Haryana invests in realty sector
Assocham study reveals that the real estate industry is attracting substantial investments in seven of the 20 top well-performing states even as the property market is facing slowdown.
Almost 50 percent of Haryana’s investment is being done in realty sector since December 2011. The services sector accounted for about 34 per cent of its total investment, says report.
The other states inviting ample investment in the sector include Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Tamil Nadu, Rajasthan and Punjab.
The investment in real estate has a strong bond with the economic growth and investors’ interest in the services sector.
As Gurgaon bordering Delhi has become a hub of domestic and multinational companies, the state’s main focus is towards real estate development. This has resulted in the sector attracting 49.7 per cent of the total investment. Of its total investment of Rs 4.98 lakh crore as on December 2011, the sector accounted for Rs 2.48 lakh crore in Haryana.
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Source: The Indian Express
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