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Construction : Real Estate | October 2013 | Source : Construction Update

Real estate attracts Rs 58.84 bn in Q1: Assocham

A new investment of Rs 58.84 billion has been attracted by real estate sector in top 20 states of India in the first quarter (Q1) of the ongoing financial year (FY) 2013-14, Associated Chambers of Commerce and Industry of India (Assocham) has said. A paper released by Assocham said that with the government facilitated policies, the real estate sector has emerged as a lucrative investment option as top 20 states across India have collectively garnered outstanding investments to the tune of about Rs 14 lakh crore as of June 2013. The title of Assocham's paper is 'Current State of Real Estate Sector in India and It's Revival.' Over 67 per cent of the total projects in the real estate sector with investments worth over Rs 9.4 lakh crore are under implementation, the paper highlighted. Real estate projects worth outstanding investments worth over Rs 29.71 billion got completed during the Q1 of the FY '13-14 thereby registering a growth in rate of completion as realty projects worth only Rs 19.76 billion had got completed in Q1 of the previous financial year,'' said DS Rawat, secretary general of Assocham while releasing the chamber's paper.
 
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