Investors shy away from Mumbai: Credai
The Confederation of Real Estate Developers Association of India (CREDAI) said that the state government’s policies will end up being its gift for Gujarat’s Gift City as the developers body witnesses Mumbai and Maharashtra turning increasingly ‘investor unfriendly‘.
Lalit Kumar Jain, president of CREDAI, has criticised the policies regarding the proposal to hike the lease rates by the state government stating that the policies do not encourage investors. He also said that due to unsupportive policies by government, real estate has become a costly affair in Mumbai.
According to a report by Cushman & Wakefield on Top 10 Emerging Business Destinations in India, in cities such as Ahmedabad, Bhubaneswar, Chandigarh, Coimbatore, Jaipur, Kochi, Indore, Nagpur, Vadodara and Visakhapatnam. the volume of investment by various companies had increased by over seven times in the last two years.
As per the report, Ahmedabad saw about Rs 71,270 crore investments in various sectors including real estate and infrastructure.
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