Arab Today, arab today realtors eye windfall as rupee dips
Last Updated : GMT 00:00:12
Arab Today, arab today
Arab Today, arab today

Realtors eye windfall as rupee dips

Arab Today, arab today

Arab Today, arab today Realtors eye windfall as rupee dips

Mumbai - Arabstoday

India\'s property market may attract $3 billion (Dh11.01 billion) from overseas as the rupee\'s slide to a record and a decline in prices make assets attractive to foreign funds and Indians living abroad, according to Jones Lang LaSalle. Total investment for the financial year ending March 2013 is estimated at $4 billion, including $1 billion by local buyers, Shobhit Agarwal, joint managing director at the Indian unit of the world\'s second-biggest publicly traded commercial-property broker, said in an interview. The rupee, which has slid 15.6 per cent in 2011, may extend losses, while prices may fall 10 per cent as growth slows in Asia\'s third-biggest economy, he said. \"They get a net 30 per cent discount, so they will be ready to write the cheque,\" Agarwal said. \"Non-resident Indians will buy at this price point.\" The Indian currency is the worst performer in Asia this year as the widest current-account deficit among the major economies in the region spurred outflows amid concerns the European debt crisis is deepening. The rupee touched a record low of 54.305 against the dollar on December 15 after government data showed industrial production shrank in October for the first time in more than two years. Property sales have slumped in India\'s biggest cities as the Reserve Bank of India raised borrowing costs 13 times by 3.75 per centage points since March 2010 to cool inflation. Central bank Governor Duvvuri Subbarao refrained from increasing the benchmark repurchase rate on December 16 for the first time in eight meetings and said December 22 that the pace of growth this financial year may be slower than an estimated 7.6 per cent. \"A lot of capital is required as liquidity is tight because of high interest rates, a lack of bank lending and lower sales,\" Agarwal said. Money will be available, though the cost of capital is likely to remain high, Agarwal said. Interest costs will likely remain close to their peak of between 18 per cent and 22 per cent, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today realtors eye windfall as rupee dips Arab Today, arab today realtors eye windfall as rupee dips

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today realtors eye windfall as rupee dips Arab Today, arab today realtors eye windfall as rupee dips

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday