Modi's mantra of hope for real estate market
- FDI in the Indian real estate sector is expected to get a lift
- Global investors are now markedly optimistic about the Indian economy, which is expected to witness more than 100% increase in foreign investment inflows, both via FDIs and FIIs, to above $60 billion in the current financial year, as compared to $29 billion during FY 2013-14.
- The two major promises made by the NDA in their manifesto that have direct pertinence to the real estate sector are:
- 1. The development of 100 new cities
- 2. Putting a new land use policy in place
- India's GDP growth has been 4.9% for the past fiscal year and forecast to be 5.6% for 2014-2015.