Karnataka has been ranked third in attracting new investments in the real estate sector across India during the last fiscal. According to a research report by the industry body Assocham, the state had a share of about 10 per cent. The realty sector attracted new investment of around Rs 4,100 crore in 2012-13 as against Rs 10,400 crore during 2011-12 registering a decline of about 60 per cent. Gujarat and Maharashtra are in the top two positions in attracting investments in the real estate sector.
While most of the states have seen a decline in attracting new investments in the realty sector, Gujarat has seen a surge of over 700 per cent as the state has attracted investments worth over Rs 17,000 crore as of March 2013 from just over Rs 2,000 crore a year ago.
“The realty sector in India attracted new investments worth over Rs 42,000 crore as of March 2013 which slipped from over Rs 92,600 crore a year ago,” said D S Rawat, national secretary general of Assocham.
Kerala is another state which has seen massive growth of over 550 per cent in attracting new investments in real estate followed by Uttarakhand (400 per cent) and Rajasthan (175 per cent), added the report.
While, Gujarat has maximum share of about 41 per cent in the new investments attracted by the real estate sector across India, the states of Maharashtra (over 17 per cent), Karnataka (10 per cent), Tamil Nadu (eight per cent) and Uttar Pradesh (over 6 per cent) are amid top five states with maximum share in this regard.
Besides, with a share of about 15 per cent, Gujarat is second only to Maharashtra which has maximum share of about 20 per cent in the total outstanding investments worth over Rs 14 lakh crore attracted by the real estate sector across India as of March 2013, added Assocham study.
Maharashtra, Gujarat, Haryana, Karnataka and Andhra Pradesh are the top five states with highest share for attracting maximum outstanding investments in the real estate segment across India.
Besides, these five states account for over 70 per cent of the total outstanding investments attracted by realty sector across India.
Karnataka has attracted outstanding investments worth over Rs 1.5 lakh crore in the real estate sector as of March 2013 and accounts for over 11 per cent share in total outstanding investments attracted by real estate sector across India.