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The losses of the industry players were limited by the timely intervention of the RBI, which increased the interest rate since 2006. The sector remains unstable. However, driven by the global economic recovery and macroeconomic and sector-specific factors, experts believe that capital will begin to flow into this sector. In addition to the global economic recovery, the following are the indicators of the growth of this sector in the near future:

Industry experts estimate that by 2010, the Indian IT and ITES sector will require approximately 150 million square feet of official space.

Growth in organized retail will provide a significant boost to commercial real estate, which is expected to demand an additional 220 million square feet of retail space in Tier I and Tier II cities.

According to the government’s Tenth Five-Year Plan, there is a deficit of approximately 22 million residential units and in the medium and long term, around 90 million residential units should be built, especially for low- and middle-income families. Housing Development & Infrastructure Ltd (HDIL) and the Mumbai Metropolitan Development Authority (MMRDA), together plan to build a residential and commercial complex in Virar, a suburb of Mumbai at a cost of around $1.49 billion.

The introduction of REMFs (Real Estate Mutual Funds) and REITs (Real Estate Investment Trusts) will definitely have a big impact on real estate by helping players determine the price. According to CRISIL, REITs have the potential to reach $1.4 trillion in size in the next 3 years.

The following section has some of the new projects that are expected to be carried out by private real estate developers:

* Tata Housing Development Company is expected to build about 1,300 low-cost residential units in Boisar, 100 km from Mumbai

* Atlas Group plans to diversify into Indian real estate and invest $201.51 million in Kerala over the next few years

*Tata Realty and Infrastructure (TRIL) will invest approximately $4.2 billion to build SEZ, highways and other core sector projects

* All the major real estate players, including DLF, Unitech and HDIL, have large housing projects lined up for discounted properties.

* Avinash Bhosale Group (ABIL) to invest $126.25 million in Pune, Nagpur and Mumbai to develop 5-star hotels

* Marriott International plans to open 24 new properties in India over the next three years

* Cinépolis, a Mexican global multiplex operator plans to invest around $357.7 million in India and open 500 cinema screens in the next 7 years for its movie exhibition business.

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