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Gujarat has seen a surge of over 700% 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, said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the study on Monday. Kerala is another state which has seen massive growth of over 550% in attracting new investments in real-estate followed by (400%) and Rajasthan (175%), said Mr Rawat. Gift City Latest Update almost rest of the states have seen a drop of over 50% in new investments in the realty sector during the aforesaid period. Apart from Gujarat, the states of Maharashtra (over 17%), Karnataka (10%), (8%) and Uttar Pradesh (over 6%) are amid top five states with maximum share in new investments attracted by real-estate sector across India, highlights the ASSOCHAM analysis. Realty sector accounts for over 11% share in total outstanding investments worth over Rs 122 lakh crore attracted by different sectors from various public and private sources across India, said Mr Rawat.

Maharashtra, Gujarat, Haryana, Karnataka and 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% of the total outstanding investments attracted by realty sector across India. Gift City News investments in real-estate have risen by over 25% throughout the country during the five year period of 2008-09 and 2012-13, further highlighted the ASSOCHAM analysis according to Mr Rawat, the real-estate sector in India has been plagued with serious problems of late like falling sales, rising construction costs, dampened market sentiment overall, sluggish economic growth, high and poor industrial production due to which leading players in the sector had to sell of their land to reduce debt, players have trimmed their exposure in realty sector and general slowdown in various industries has hit commercial real estate. Anurag Jhanwar, director, CRISIL Real-estate Ratings, maintains, Growth of real-estate in India has been rather muted, especially for the past two years.

Gujarat, too, has been impacted and has seen muted growth over the past two years. Though, the state government has taken significant steps and inked various MOUs across diversified segments, their implementation and employment generation through them will be key in improving the overall growth of the sector in the medium to long term he adds further, Investments in a particular segment is directly linked to the demand and supply equation prevailing in that segment. Given the huge gap in residential dwellings, major investments are expected to happen in this segment, within which the affordable segment (below Rs 40 lakh per unit) will capture a larger chunk. Gujarat is registering growth in multiple areas, adding a new chapter in the state's real-estate arena. At present, Gujarat is one of the finestand fast emerging states in India. With the industrial and educational sectors being taken care of in the state, the real-estate sector can also expect a share in the pie. The state is expected to embark on a growth trajectory with landmark projects such as the Gujarat International Financial Tec-city, avers BV Nirmala, a real-estate analyst.

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