"THE BOOM IS DEFINITELY FOR REAL" (Trammell Crow Company has picked up a 30 percent stake in Chesterton Meghraj Property Consultants Pvt Ltd)
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[February 03, 2006]

"THE BOOM IS DEFINITELY FOR REAL" (Trammell Crow Company has picked up a 30 percent stake in Chesterton Meghraj Property Consultants Pvt Ltd)

(India Business Insight Via Thomson Dialog NewsEdge)Trammell Crow Company is among the largest commercial real estate services globally and has picked up a 30 percent stake in Chesterton Meghraj Property Consultants Pvt Ltd.

Mr Anuj Puri, the Managing Director of Trammell Crow Meghraj, has stated that the boom in India's real estate sector is for real as the market is being driven by end users.

He estimates that 84 million square feet of Information Technology (IT)/IT- enabled services space will be leased out between 2004 and 2007. He has reported that foreign investment is already taking place in the sector with Dubai-based Emaar, IJN from Malaysia, Salem Cipufra from Indonesia and Ascendas from Singapore investing in projects across India.



He has projected that more foreign funds will enter the Indian market in 2006 and the 34 Tier-2 towns will become the focus of developers.

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