Kolkata: Although bullish about the investment opportunities in the state, Mahindra and Mahindra Limited does not have any immediate plan to invest here through its regular brands. Any investment here will rather be in the real estate and IT sectors, Mr Anand Mahindra, vice-chairman and managing director of Mahindra and Mahindra Limited said.
He was speaking on the sidelines of a programme organised by the Ladies Study Group at a city hotel.
“Investment in IT and real estate through our group companies like Mahindra Life Space and Mahindra World City will probably be our flagship ventures in the state,” he said.
While Mahindra Life Space deals mainly with developing residential areas, Mahindra World City Developers Limited focuses on setting up SEZs.
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India has “enormous potential in all its property investment categories”. Strong population growth, a large pool of qualified workers, greater integration with the world economy and increasing domestic and foreign investment are fuelling demand for office, retail and residential property. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain the main concern within the market.For more view- realtydigest.blogspot.com