India has a housing shortfall of 26 million units with the bulk of demand coming mostly from non-resident Indians, making it a rich property market for developers to tap.
Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years.
"The markets are very buoyant, and developers have been providing internationally-accepted standards in the property industry," said Mumbai-based Ashish Mehrotra, business head and vice-president for mortgages at Citibank India.
He was speaking at the opening of IndiaHome Property Exhibition, a trade show for NRIs seeking to purchase houses in India.
The three-day event targets the NRIs in Dubai and the whole UAE for properties being offered by 12 large developers covering India's 18 major cities.
Some of the developers participating in IndiaHome are Emaar MGF, DLF Ltd, Hiranandani Developers, SMR Constructions, Unitech Ltd [Get Quote], Sobha Developers [Get Quote], Aparna Group, Presidium and Vipul Ltd [Get Quote].
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