Bangalore Real Estate Trends

Infrastructure investment is expected to grow dramatically in India

India's core sector,comprising six major infrastructure industries,accelerated by 5.1 per cent year-on year in April 2010,compared with 3.7 per cent in April 2009,according to the data released by the union ministry of commerce and industry.

Infrastructure investment in India is expected to grow dramatically.As per Union Minister for Finance,Pranab Mukherjee,India would require to develop a rupee-denominated long-term bond market for funding the infrastructure sector that requires an investment of around US$ 459 to US$ 500 billion by 2012.

A committee on infrastructure under Prime Minister Dr Manmohan Singh will conduct quarterly review of development of power,road,ports,civil aviation and railways sectors.The cabinet committee on infrastructure (CCI) will handle specific infrastructure cases that may require necessary policy correction or solving issues affecting projects. Ports

The chief ports in India handled 45.8 million tonnes cargo in February 2010,as compared to 45.2 million tonnes in February 2009.The cargo growth during April-February 2010 registered an increase of 5.5 per cent as compared to the equivalent period in the 2009 fiscal,as per data released by the Indian Ports Association (IPA).

Airports

The domestic airlines flew about 4.78 million passengers in May 2010,an increase of almost 22 per cent over the number carried in the same period in 2009.The Union Minister of State for Civil Aviation,Praful Patel,stated that the country will become the top-five civil aviation markets in the world in the next five years.India is the ninth largest civil aviation market in the world at present.

Railroads

During the first month of the 2010-11 fiscal,the railways reported an increase of 9.69 per cent in its total earnings at US$ 1.62 billion,as compared to US$ 1.5 billion in the same month last fiscal.An in-principal approval for converting 10,000 km of state roads to national highways has been given by the Empowered Group of Ministers (EGoM).It is estimated that around US$ 3.3 billion would be required over the next five years to undertake this project.

The finance minister has announced the allocation of US$ 37.7 billion,around 46 per cent of the total plan outlay of US$ 81 billion for 2010-11 to infrastructure sectors.The road transport and highways ministry has proposed priority sector status for road development,allowing private highway developers more funds from banks.

_{Source: Economic Times Dt: 6-8-10}