‘Singapore can help develop property market in India'

The Hindu Property Plus Show held in Singapore

(From left) T. Chitty Babu, president CREDAI Tamil Nadu, Faizal Rizvi, Joint Secretary CREDAI Karnataka, Akila Iyengar, R. Jayachandran, High Commissioner to Maritius, and Narayanmohan, Chairman SICCI, at the inaugural ceremony of the Hindu Property Plus Show, 2010 at Singapore

The possibilities of new links between India and Singapore in the development of the property market in India were brought into sharp focus at the inauguration of The Hindu Property Plus Show 2010 in Singapore on Friday.

The fair, showcasing the growth and attractiveness of the private property sector in South India, will be open to the public here on Saturday and Sunday.

The inaugural ceremony was marked by the lighting of the traditional Indian lamp by the chief guest, R. Jayachandran, Singapore's High Commissioner to Mauritius and Chairman of Olam International Limited in the City-State. R. Narayanamohan, Chairman, Singapore Indian Chamber of Commerce & Industry; T. Chitty Babu, President, CREDAI Tamil Nadu; and Faizal Rizvi, Joint Secretary, CREDAI Karnataka, also participated in the ceremony.

Welcoming the guests, Akila Iyengar, Director,

The Hindu , said the recent “global economic downturn did not make any appreciable dent on the Indian economy.” In fact, the building and construction industry in India “has been showing a phenomenal growth in the recent months.”

The Hindu “has been monitoring this booming industry through its popular weekly supplement, Property Plus.” The industry was also being served through “another window” in the form of The Hindu Property Plus fairs during the past five years. In a bid to reach a wider audience beyond India's shores, The Hindu was now holding in Singapore the sixth edition of the Property Plus fair, she emphasised.

In a comment after cutting the ceremonial ribbon and going round the exhibition, Mr. Jayachandran said: “This event, although the first of its kind, will lead to a lot of interesting opportunities for the [real estate] developers from India. They would not only be able to market their products abroad but they should be able to learn quite a bit by looking at the processes and the quality [of the property scene] in Singapore.” The private property sectors in the two countries could even think of joint ventures, said Mr. Jayachandran.

Commending the initiative of The Hindu , Mr. Narayanamohan said: “There will be a great demand for Indian properties because the number of Indian expatriates is increasing in Singapore. Also, the Singaporean Indians will be keen to buy a home back in India. Singaporeans are also looking for investments into India in properties. Most Indian properties are of international standard now.”