The projection of this high growth rate trajectory primarily stems from the fact that opportunities in this vast country of over one billion is simply immense. Nothing surprising, the global real-estate consulting group Knight Frank has ranked Property in India 5th in the list of 30 emerging retail markets and predicted an impressive 20 per cent growth rate for the organised retail segment by 2010. This is even more so realistic for hotspots such as Mumbai Property, Pune Property and Bangalore Property.

Following trends stand testimonial to the fact that Indian Real Estate Sector is offering mammoth opportunities:

Bullish Trends

• By 2010, over 150 million sq. ft. of new office space will be created for IT/ITES companies alone.
• By 2010, Indian cities will have as many as 250 malls from the present level of 40. This will entail an investment of over $3 billion.
• By the end of 2007, Delhi/NCR will have 35 malls covering space of 22 million sq.ft., Mumbai will have 42 malls with total covered area of 19 million square ft., Banglore will have 14 malls which will occupy space of 6 million sq.ft., and Kolkata will boast of 13 malls on a space area of 4 million sq. ft.
• By the end of this decade, the share of organized retail will grow to a staggering 20% from a paltry 2% and this will support a host of retail chains coming up in the country. Going by an estimate, organized retain chain firms are likely to generate a revenue inflow of nearly $35 billion from over $5 billion in 2004. That explains why major retain chain companies like Pantaloons, Shoppers’ Stop, Trent, RPG, etc. are in a major expansion overdrive mould these days. The retail story is likely to get more interesting with big bang entry of Reliance soon as it is planning to invest over $3.5 billion in setting up 1600 stores on a pan-Indian basis. Last but not the least, global majors like Walmart are waiting for the approval of the Indian government to set up their stores in India.
• Though the speciality mall is a very new concept in India but over $750 million worth investment is already in the pipeline. Omaxe is planning to create six wedding malls and Gold Souk ( Gurgaon) is planning to have similar outlets in 12 more cities.
• To accommodate the aspirations of growing middle-class in India, 22 million new housing dwellings will have to be created in next ten years. This entails creating nearly 30 billion sq. ft of space in the residential segment alone. And that explains why developers are now rushing to tier 2 and tier 3 cities to develop both residential as well as commercial complexes in these locations.

According to an estimate, real estate projects worth nearly $3 billion are already underway in Mohali and in Amritsar developers are developing space over 6 lakh sq. ft. for both residential as well as commercial complexes. The other cities in the northern India like Jallandhar, Shimla, Kanpur, Lucknow, Sonepat, Panipat, Karnal, etc. have also started experiencing similar boom. In next two years, the tier- 2 cities in northern India are projected to have 20 mega malls.