a study on realty investment opportunities in major cities and markets of india and us

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    SAKOE IL DI@SE@S

    OMTS IL SAKOET m

    DJAXSE[ SMSOE XAGE @I2

    1. M@S[ICUDSMI@

    1.1 M`s{icudsmi` , Kadng{iu`c il sje X{ikoef 1

    1.; Ikbedsm|e il sje tsuc} 3

    1.4 Tdixe il sje tsuc} 5

    1.3 Omfmsasmi` il sje tsuc} 5

    ;. [E\MEW IL [EOASEC OMSE[ASU[E

    ;.1 [e|mew il {eoasec omse{asu{e @u`gafkannaf/ Djesxes/ Xiet

    Ga{ce`/ Egfi{e/ Aowa{xes/ S. @aga{) F}oaxi{e m` De`s{ao Dje``am> a`c A``a

    @aga{ m` @i{sj Wets Dje``am. Tiusj Dje``am mt a x{mfe {etmce`smao oidasmi` wmsj

    a giic atti{sfe`s il axa{sfe`st a`c m`cexe`ce`s jiutet m` x{izmfms} si sje

    keadj. De`s{ao Dje``am x{i|mcet x{izmfms} si sje de`s{ao kutm`ett cmts{mds. Sje

    @i{sj&wetse{` Dje``am mt difxa{asm|eo} a {ede`s ce|eoixfe s wmsj a`

    atti{sfe`s il ku`gaoiwt a`c axa{sfe`st.

    At ezxas{maset a`c F@D ezedusm|et sj{i`g sje dms}/ cefa`c mt tjmlsm`g si

    sje de`s{ao xa{s il dms} cue si mst x{izmfms} si faoot/ {etsau{a`st a`c doukt. Eats

    diats {iac di`sm`uet si ke a x{ele{{ec oidasmi` li{ ezxas{maset oiinm`g li{ Keadj

    Jiutet ) M`cexe`ce`s Ku`gaoiwt. M` J;&85/ sje cefa`c li{ m`cexe`ce`s jiutet

    a`c axa{sfe`st {eadjec a` aoo smfe jmgj wmsj `ufke{ il que{met difm`g m` l{if

    ezxas{maset a`c F@D ezedusm|et. Sje tuxxo} wat jiwe|e{ u`akoe si neex xade

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    wmsj sje tseex cefa`c jmne a`c a cefa`c tjmls wat ikte{|ec siwa{ct de`s{aoo}

    oidasec x{ixe{smet.

    M` J1&8

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    li{ S @aga{/ wjmdj taw a` m`d{eate il aofits 38% l{if J1. Jiwe|e{ sje {e`saot

    m` isje{ a{eat {efam`ec aofits tsakoe.

    Daxmsao \aoue *[t ) TL-

    Xoade J;&85 J1&8< J;&8

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    fmd{i fa{nest. Wjmoe m` a{eat omne Aowa{xes) [A Xu{af/ sje {e`saot wms`ettec a

    fattm|e bufx il 38 & 58%.

    S[E@C A@AO]TMT LI[ DJE@@AM

    Xoade ;88< ;887 ;88: ;88= ;818 ;811 ;81; ;814

    @u`gakannaf 4888 4358 4=

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    M` Dje``am xoadet omne S. @aga{/ F}oaxi{e/ Akjm{afaxu{af/ a`c Aca}a{

    a{e sje fits ass{adsec xoadet k} sje m`|etsi{t li{ jiutm`g tm`de sje} ja|e giic

    x{izmfms} si tdjiiot/ jitxmsaot a`c m`cuts{mao a{eat. Aoti/ etsakomtjfe`s il fi{e

    MS Difxa`met/ jmgje{ ecudasmi` m`tsmsusmi`t a`c jitxmsaot ja|e k{iugjs ius

    s{efe`ciut ce|eoixfe`sao tdixe si tuku{ka` a{eat tudj at Ioc

    Fajakaomxu{af [iac/ wje{e u omne isje{ xoadet m` Dje``am ja|e giic

    a|amoakmoms} il wase{ a`c oa`c a{ea a`c u`xioousec tu{{iu`cm`gt. Dje``am

    wms`ettec a tseex x{mde m`d{eate m` ;885 wmsj a` a|e{age il 18% m`d{eate m`

    daxmsao a`c {e`sao |aouet. [etmce`smao oa`c a`c Axa{sfe`s x{mdet ja|e tu{gec

    wmsj x{mdet m` sje dms} {a`gm`g l{if [t.4/888 & [t.:/888 XTL a`c a{eat omne Kias

    Douk ja|e e|e` jmgje{ x{mdet. Aoti/ sje @[M m`|etsfe`s aoti taw di`tmce{akoe

    mfx{i|efe`s m` sje oats 3&5 }ea{t. Axa{sfe`st m` {a`ge keswee` : si ;8 oanjt

    we{e m` giic cefa`c a`c fi{e a`c fi{e ce|eoixe{t e`gagec m` sje

    di`ts{udsmi` il ouzu{} axa{sfe`s kutm ett cue si jmgje{ cefa`ct l{if sje

    {eoidasm`g ezedusm|et a`c isje{ x{ilettmi`aot. [etmce`smao xois taoe a`c tseex

    m`d{eate m` x{mdet ezxedsec e|e` m` dms} iustnm{st omne Nuoasju{/ Seadje{t Dioi`}/

    K{msa`ma @aga{/ a`c \m`a}ana Xu{af wje{e x{mdet we{e as sje {ase il [t.

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    M` {esamo txade/ sje {e`sao {aset m` Dje``am {a`get akius [t 58 si [t 55 xe{ tq ls

    wjmoe m` Fufkam a`c Ceojm sje {aset a{e akius [t :8 si [t :5 xe{ tq ls.

    Wmsj sje jmgj ezxa`tmi` a`c lade&omlsm`g xoa`t sanm`g xoade m` Dje``am sje

    x{mdet a{e tamc si ke {mtm`g lu{sje{. Sje ioc Fajakaomxu{af MS di{{mci{ mt aoti

    teem`g a `ew lade. Sjmt tmz&oa`e jmgjwa} ts{esdjm`g ;8 nft mt jife si fa`}

    F@Dt wji a{e tessm`g ux ixe{asmi`t je{e. Sjmt jat {etuosec m` x{ixe{s} x{mdet

    tjiism`g ux m` sjmt a{ea. X{mdet il oa`ct m` sje Gum`c} a`c Afkassu{ a{e aoti

    tjiism`g ux. A g{iu`c ditst mt a`}wje{e keswee` [t. 38 & 58 oanjt m` Gum`c}.

    [etmce smao x{ixe{s} x{mdet ja|e aoti tee` a` uxtwm`g iwm g si m`d{eatec

    cefa`c li{ x{efmuf jiutm`g axa{sfe`st at weoo at kucges loast. S}xmdao x{mdet

    m` Tjiom`ga`aoou{ a{e akius [t ;.5 d{i{et a` ad{e. E|e` sje du{{e`s {etmce`smao

    fa{nes jat g{iw` l{if 48% si sjas il 45% m` i`e }ea{/ wmsjm` sje dms} tuku{kt.

    \eoadje{}/ Figaxxam{/ Giw{mwannaf a`c Ni}afkecu a{e giic xoadet li{

    ku}m`g x{ixe{s} at m`|etsfe`st at jife {e`saot ja|e afxomlmec di`tmce{ako}.

    ;KJN x{mdet tsa{s l{if [t.18 oanjt a`c da` {eadj ux si [t 4; oanjt li{ a ouzu{}

    jiute m` sjete a{eat. [e`st il [t. :/888 si [t. 13/888 da` ke ezxedsec li{ a

    ;KJN axa{sfe`s li{ a fi`sj.

    Sje oasets {etmce`smao fa{nes x{mdet m` Dje``am at i` Fa{&87 a{e omtsec keoiw.

    Dje``am Fa{&87

    Oidasmi` [etmce`smao Fm mfuf Fazmfuf1 Ac}a{ 1:88 ;:88

    ; Aowa{xes ;388 ;=88

    4 Keta`s [iac ;;88 ;=88

    3 Djesxu{ ) Nmoxaun ;188 ;788

    5 N. N @aga{ 1;88 1788

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    < Sm{u|a`fm}u{ 1788 ;;88

    7 F}oaxi{e ;;88 4888

    : @ugakannaf ;888 ;=88

    = S. @aga{ 1388 ;388

    18 Nicafkannaf 1588 1:88

    11 Djafme{t [iac ;;88 4888

    1;[abaA``afaomxu{af

    1:88 4858

    14 [i}axessaj 1:88 ;358

    13 Egfi{e ;388 4888

    15 \aoata{a|annaf 1188 1388

    1< A``a @aga{ Eats 1358 ;;88

    17 Gum`c} 1;88 1788

    1: \eoadje{{} :88 1188

    1= Tjats{m`aga{ 1388 ;;88

    ;8 Atjin @aga{ 1;88 ;;88

    ;1 Ooi}ct [iac 1588 ;;88

    ;;[acjan{mtj`a`[iac

    1588 ;888

    ;4 Fiu`s [iac ;888 3588

    Sje {etmce`smao fa{nes m` Dje``am jat kee` g{iwm`g tseacmo} m` sje oiwe{

    a`c fmccoe tegfe`s. Aosjiugj sje cefa`c li{ sje jmgj&e`c x{ixe{smet mt `is at

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    ts{i`g at oiwe{ tegfe`st/ tsmoo sje ce|eoixe{t ja|e tsa{sec oa{ge&tdaoe x{ibedst

    wmsj mfx{i|ec afe`msmet. Wmsj sje ac|e`s il F}{mac tilswa{e difxa`met/ te|e{ao

    li{emg` ka`nt , kiifm`g {esamo fa{nes/ daxmsao |aouet a`c {e`saot a{e ezxedsec si

    {mte lu{sje{ m` ;887. Aoti wmsj sje {eoazasmi` il Li{emg` Cm{eds M`|etsfe`s *LCM-

    `i{ft/ tife goikao lu`ct omne Gi|e{`fe`s M`|etsfe`s Di{xi{asmi` il Tm`gaxi{e

    jat m`|etsec m` Dje``am {etmce`smao fa{nes wjmdj mt gim`g si kiits sje {eao etsase

    tde`a{mi m` a kmg wa}.

    M`se{x{esasmi`2

    Dje``am mt sje liu{sj jmgjets ea{`m`g dms} wmsj Xe{ Daxmsa M`dife il

    [t 3

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    S{e`c A`ao}tmt2

    GCX mt ezxedsec si m`d{eate k} ;.7 xe{de`s m` ;887/ alse{ {egmtse{m`g

    g{iwsj il a` etsmfasec 4.; xe{de`s m` ;88

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    Sje axa{sfe s fa{nes mt weoo xitmsmi`ec si tsage a`isje{ ts{i`g

    xe{li{fa`de m` ;887. \ada`d} wmoo di`sm`ue si cedom`e/ aooiwm`g iw`e{t si agam`

    {amte {e`st a`c dus di`dettmi`t. Sje xade il mfx{i|efe`s wmoo fice{ase l{if

    ;885 a`c ;88

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    A|amoakmoms} il daxmsao jat {efam`ec eoe|asec i|e{ sje xats }ea{. A wmce

    xiio il fi{sgage x{i|mce{t/ xa{smduoa{o} di`cumst a`c xi{sliomi oe`ce{t/ {efam`

    agg{ettm|e m` lm`a`dm`g axa{sfe`s s{a`tadsmi`t/ wjmdj mt {etuosm`g m` ass{adsm|e

    x{mdm`g li{ ku}e{t. Oia`t il #4 fmoomi` a`c fi{e a{e du{{e`so} kem`g x{mdec as =5katmt xim`st si 118 katmt xim`st aki|e sje 18&}ea{ S{eatu{}/ wmsj ceks&te{|mde

    di|e{age *CTD- il 1.15z si 1.;8z. Li{ tfaooe{ oia`t/ sje tx{eact wmce` si a

    {a`ge il 115 katmt xim`st si 158 katmt xim`st/ sjiugj sje CTD laoot si 1.18z i{

    oett. M` fa{nest wmsj ts{i`g {e`s g{iwsj li{edatst/ ms mt `is u`diffi` li{ ceaot si

    ke ci`e as a k{ean e|e` CTD.

    Axa{sfe`s m`|etsi{t {efam` jmgjo} ixsmfmtsmd akius sje fa{nest lusu{e/

    a`c li{ giic {eati`. Cefa`c&tmce c{m|e{t {efam` lm{fo} m` xoade/ a`c daxmsao

    loiwt m`si sje tedsi{ a{e jiocm`g as jmgj oe|eot. Dax {aset tilse`ec sefxi{a{mo} m`

    fmc&;88< cue si {mtm`g oi`g&se{f {aset a`c a laooill m` di`|e{tmi` taoet/ kus sje

    a|e{age jat tm`de cedom`ec ficetso}. Fa{nes&wmce/ sje{e mt a g{iwm`g wmoom`g`ett

    i` sje xa{s il x{m|ase m`|etsi{t si oiin iustmce il sjem{ jife tsase si adjme|e

    jmgje{ }meoct. I|e{ sje xats }ea{/ x{m|ase&ius&tsase adsm|ms} addiu`sec li{

    axx{izmfaseo} ;8 xe{de`s il sisao ciooa{ |ioufe m` sje #5 fmoomi`&xout tegfe`s il

    sje fa{nes/ difxa{ec wmsj oett sja` 18 xe{de`s i|e{ sje x{e|miut 1;&fi`sj

    xe{mic. Tsmoo&oiw m`se{ets {aset/ ts{i`g daxmsao loiwt a`c mfx{i|m`g lu`cafe`saot

    a{e ezxedsec si {etuos m` {eoasm|eo} tsakoe dax {aset m` ;887. As sjmt xim`s m` sje

    d}doe/ m`|etsi{t a{e lidutm`g i` sje xise`smao li{ g{iwsj/ xoadm g fi{e wemgjs i`

    sisao {esu{` sja` gim`g&m` dax {aset. I|e{ sje xats lew }ea{t/ sisao {esu{`t ja|e

    dife m` weoo aki|e a|e{age/ c{m|e` m` oa{ge xa{s k} x{mde axx{edmasmi`. Wjmoe

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    x{mdet gam`t wmoo ke fi{e sefxe{ec m` ;887/ la|i{akoe {e`se{ cefig{axjmdt a`c a

    jeaosj} tuxxo}&cefa`c kaoa`de wmoo tuxxi{s ts{i`ge{ {e|e`ue g{iwsj a`c x{mde

    axx{edmasmi` m` sje }ea{t ajeac. Dax {aset wmoo uosmfaseo} smdn ux at @IMt {mte

    latse{ sja` x{mdet kus a{e `is ezxedsec si {esu{` si oi`g&se{f a|e{aget i|e{ sje

    li{eteeakoe lusu{e.

    @ew ]i{nAxa{sfe`s

    Atnm`g[e`s Difxoesmi`

    Fecma`X{mde

    \ada`d}[ase

    Efxoi}fe`sG{iwsj

    *# ) U`ms- *M` U`mst- *# ) U`ms- *M` %- *M` %-;883 ;/;:7 ;/3:1 15;/7:8 4.48% 8.5%;885 ;/4== 4/=75 1

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    M`se{x{esasmi`2

    GCX mt ezxedsec si m`d{eate k} ;.7 xe{de`s m` ;887/ alse{

    {egmtse{m`g g{iwsj il a` etsmfasec 4.; xe{de`s m` ;88

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    Ceojm mt sje daxmsao dms} il M`cma a`c aoti n`iw` at sje jea{s il

    M`cma. Ceojm mt sje x{mfe oidasmi` li{ x{ixe{smet tm`de fabi{ms} il sje gi|e{`fe`s

    a`c x{m|ase kumocm`gt a{e oidasec m` sjmt fag`mlmde`s dms}. [eao etsase Ceojm wat

    a`c mt aowa}t i` a jmgj/ a`c loiu{mtjm`g.

    Ceojm mt di`tmce{ec at i`e il sje xixuoa{ a`c mfxi{sa s siu{mts

    cetsm`asmi`t m` M`cma. Akius

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    sjmt accmsmi`/ sje G{ace A tsidn m` Ceojm mt etsmfasec si ezdeec 17 fmoomi` tq ls.

    Sje{e jat jiwe|e{ kee` `i accmsmi` m` DKC a`c isje{ tuk& fa{nest. Wmsj sjmt

    accmsmi`/ }ea{ ;887 taw l{etj tuxxo} accmsmi` il fi{e sja` < fmoomi` tq ls m`si sje

    diffe{dmao fa{nes. J1&87 mt ezxedsec si tee tife fi{e tuxxo}/ ius il wjmdj

    fi{e sja` :8% wmoo ke di`de`s{asec m` Gu{gai` a`c isje{ tuku{kt. M` Ceojm/ sje

    cefa`c li{ diffe{dmao txadet mt i` a jmgj cue si sje ezmtsm`g tuxxo} d{u`dj

    a`c aoti kedaute `ufke{ il difxa`met a{e {eoidasm`g l{if {etmce`smao si

    diffe{dmao a{eat. MS ) MSET difxa`met a{e sje cefa`c ge`e{asi{t m` tuku{kt

    ja|m`g juge ezxa`tmi` xoa`t/ iwm`g si wjmdj oeatm`g) x{e oeatm`g il oa{ge loii{

    xoaset mt sanm`g xoade. M` Ceojm/ sje |ada`d} oe|eot {efam`ec at oiw at 4% si 5%.

    \ada`d} oe|eot m` Gu{gai` aoti xouffesec wmsj e|e{ m`d{eatm g cefa`c/

    jiwe|e{ sje |ada`d} oe|eot m` @IMCA we{e tomgjso} kesse{ {a`gm`g l{if 15% si

    ;8%.

    S{e`c A`ao}tmt2

    M` Ceojm @D[ {e`saot ja|e gi`e ux k} ;5%&48% l{if J; il ;885 si e`c

    il J1 il ;88

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    Ceojm & G{ace A Illmde

    8

    58

    188

    158

    ;88

    ;58

    488

    @ej{u Xoade Di `augjs

    Xoade

    Gu{gia` @imca Batioa Tanes

    Oidasmi`

    [e`s*[t)TL)Fi ;883

    ;885

    Q1&8