India set for property boom

< P > < FONT face = Verdana > Ten years ago, the Gurgaon area on the outskirts of the Indian capital was just a thicket with a few isolated residential areas.

< P > < FONT face = Verdana > Today, it is becoming a concrete jungle, and the high-rise buildings built by many multinational companies have become the symbol of India's real estate boom, which is attracting a large influx of capital from home and abroad.

< P > < FONT face = Verdana > Investors are still pouring money into the Indian market at a time when the Western world is suffering from the credit crisis and financial austerity. Some experts say that India is one of the few countries left today where demand exceeds sales in the real estate market.

< P > < FONT face = Verdana > "In India, there is an unmet demand in the real estate market," said Ashvin Lamai, a consultant at Mumbai-based real estate consultancy that tracks price movements in the domestic real estate market.

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