Foreign direct investment (FDI) in India’s booming real estate and housing market jumped 80 times between 2005 and 2010. Figures obtained by TOI show that in 2005, FDI in real estate was a mere Rs 171 crore. That soared to Rs 13,586 crore in 2009-10. In April and May this year, Rs 737 crore in FDI was pumped into the sector.

Property in Mumbai biggest draw
<It is no surprise that the largest number of building projects where FDI is in play are in the India’s commercial capital, Mumbai. Of the total 1,614 projects in which foreign investors have put in money since 2005, 422 were cleared by the Reserve Bank of India’s Mumbai office for building property in Mumbai, followed closely by 316 for property in Delhi. Other big cities like Bangalore (225 projects), Hyderabad (105 projects) and Chennai (68 projects) also enjoyed considerable attention of foreign real estate developers.

Largest investment Bandra Kurla Complex
Interestingly, given the booming property market across the country, FDIs are not confined to metros and big cities alone. Thus since 2005, various real estate projects have been given a green signal by RBI’s offices in Bhopal, Kanpur, Kochi, Jaipur and Panaji, amongst other places. The largest FDI in the last five years remains in the construction of a technology park at Bandra Kurla Complex in Mumbai. In this case, $372 million has been brought in through a foreign collaborator based in Mauritius.

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Tags: FDI, India’s real estate, Property in Delhi, Property in Hyderabad, Property in Mumbai

This entry was posted on Tuesday, August 24th, 2010 and is filed under Foreign Ownership in India. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.