‘Indian realty market fails to meet the global standards’
Sean Tompkins, global chief executive officer of UK-based Royal Institution of Chartered Surveyors (RICS) has said that the foreign investors are thinking twice before investing in the Indian real estate market because it fails to meet the global standards.
Between 2006 and 2009 the Indian realty had witnessed around $20 billion in investment of which only $ 2-3 billions was able to exit after remaining invested since then. Indian realty used to be an attractive investment destination but since 2005 it has not been up to the mark for investors.
In 2006-2008, PE firms that invested in the Indian realty are looking to exit, but not been able to exit because they were not getting profitable returns. Many PE funds have postponed their plans to exit due to lower returns.
According to Tomkins, price correction need to be done to attract more investors in the Indian realty market. If India wants to rise to global standards then they have to treat construction and real estate professionally.
Fluctuating Indian realty market
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