Realty investment in 6 top Indian cities register 100% growth: Report

Mumbai: India received a total real estate investment of USD 2.87 billion in the six cities of Mumbai, Bengaluru, Pune, Djuelhi NCR, Chennai and Hyderabad, which was an increase of 100 percent, property consultant Cushman & Wakefield said in a survey.

“These markets have been able to attract capital based on strong economic drivers, acceleration in reforms, high yields and rapidly modernising business base,” the report said.

Mumbai recorded real estate investments of USD 1.74 billion from July, 2016 to June 30, 2017 placing it on 81st position in global cities at attracting funds, the report added.

According to the report, Mumbai was placed number one by growth amongst the gateways cities with a 194 percent increase from the previous year.

The global property investment market saw volumes rise 4 percent year-on-year to USD 1.5 trillion in a one year period ending June 2017.

The report, that surveyed over 400 global locations found out that only Pune outshines Mumbai in terms of investment growth at 285 percent. It also placed Bengaluru at 161st position with total real estate investment volume of USD 461 million.

Of the total real estate investment received in Indian cities, the largest share of over 55 percent came in from North America, while domestic and regional sources saw a decline in share of capital invested in the country, the report said.

Funds from Europe, which had not made its presence in the previous year, were seen contributing around 14 percent, it added.