In the last two years alone, property prices in India increased by 70 per cent." India is also seen as an attractive destination due to the Indian government recently relaxing rules for foreign investment in the housing sector.
Merrill Lynch consultants have predicted a 700 per cent increase in the Indian property market by 2015. Meanwhile, except in several areas in London, property prices all over Britain have recorded at least a two per cent drop in the last year due to the credit crunch and a further fall in prices is predicted.
British citizens of Indian-origin are increasingly investing in places such as Gujarat, Gurgaon, Bangalore, Chandigarh, Pune and Jaipur. In order to guide NRIs for purchasing property, Indian builders and property agents often organise exhibitions here.
The latest to organise exhibitions is the Housing Development Finance Corporation (HDFC), which would organised a two-day show called "India Homes Fair" here from June 28.
About 18 eighteen leading developers, including Ansal, Unitech, from India will showcase flats and villas at the event.
Renu Sud Karnad, joint managing Director of HDFC, said: "Home buying is a tedious process ... As pioneers in housing finance, we have well understood this need and have thus organised this exclusive event to guide our NRI customers so that they take an informed decision."
