Half of Haryana's investments in real estate: study

The real estate industry is attracting significant investments in seven of the 20 top performing states of the country, including Haryana, even as the property market is facing a slowdown, an Assocham study released today said.

The real estate industry is attracting significant investments in seven of the 20 top performing states of the country, including Haryana, even as the property market is facing a slowdown, an Assocham study released on Tuesday said.

HT Image

The study found that "investments in real estate have a strong nexus with the growth and investors interested in the services sector".

The services sector also attracted a good chunk of investment in the states.

Assocham secretary general DS Rawat said: "In Haryana, the services sector accounted for 34% of its total investment."

While 50% of the investment in the state was made in the realty sector in December 2011, the study said.

With Gurgaon developing as a hub for domestic and multi-national companies, real estate development became the focal point in Haryana. The sector attracted 49.7 % of the total investments in the state, the study said.

Of its total investment of Rs 4.98-lakh crores, the real estate sector accounted for Rs 2.48-lakh crores in Haryana, with realty sector in towns like Faridabad, Sonepat, Ambala, Panipat and Karnal also growing at a faster pace.

The other states attracting sizeable investment in the sector include Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Tamil Nadu, Rajasthan and Punjab.