Property Plus
Coimbatore
Retail, real estate boom will persist
|
The organised retail segment will see an additional investment of $70 billion by 2010
|
Retail and real estate boom will further roll down in 2008 as these two key sectors are well poised to notch a year-on-year growth of 30 per cent to 35 per cent and between 40 per cent and 45 per cent respectively over the year 2007, according to projections made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
In 2007, the retail sector ended up with a growth rate of 25 to 28 per cent.
Organised and unorganised retail size in the year has been estimated at $ 300 billion which is likely to grow up to $ 365 billion in 2008 and reach the size of $ 440 billion by 2010.
Retail sector
Releasing the assessment, the ASSOCHAM President, Mr. Venugopal N. Dhoot said that of total $ 330 billion, retail industry size in the year 2007 particularly in its organised retail segment is around less than 5 per cent which works out to slightly more than $ 16 billion.
The organised retail occupied a space of 1 million sq. ft. in 2002, which shot up to nearly 14 million sq. ft. by 2007 and in 2008, the space occupation in the organised retail sector is likely to be 16 million sq. ft. as retailers like Reliance, Plaza, DLF, Spenser and even Aditya Birla Group more would witness their major expansion drive in the retail sector, pointed out Mr. Dhoot.
Estimates
As per estimates made by ASSOCHAM, the organised retail segment would witness an additional investment of $ 70 billion by 2010, as the Chamber has projected retail growing around 30 to 35 per cent in the next three to four years.
Investment destinations
The Chamber is also of the view that India has already emerged as the 5th world’s largest investment destinations globally in retail sector because of its market and potential which is made up of India’s population base.
As per ASSOCHAM estimates in 2008, 150 new malls are likely to be added that would capture larger organised retail market size.
As a result , the reality sector in tier II and tier III and even tier IV cities would make major expansion drive for providing dwelling units to the neglected lot of society.
As the property in metros has become costly and money got dearer, the developers are moving towards tier II and tier III cities.
Printer friendly
page
Send this article to Friends by
E-Mail
Property Plus
Coimbatore
|
