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Central India 'ripe for real estate development'
08 Feb 2010
A paper written by analysts at Jones Lang LaSalle Meghraj stated that low to mid-priced housing in states such as Rajasthan, Madhya Pradesh and Jharkhand is in demand.
It noted that an increasing number of people with larger incomes were driving such demand across the country, reports Property Wire.
"Smaller markets … will present increased opportunities due to the relative affordability and availability, along with unmet demand arising from an increasingly sophisticated set of consumers," the Residential Opportunities in Central India report stated.
But it added that national developers need to be aware of local building regulations before launching into the construction of any real estate development project.
Last week, Brent Ciliano, a portfolio strategist at Goldman Sachs Asset Management, told Reuters that American investors should be looking to put money into India and China, as Asian markets continue to grow at a faster pace than the US.
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