Real estate in India seems to grow three times over the next three years. The market size may reach the value of Rs 200,000 crore from the present value of  Rs 60,000 crore.

With a high proliferation of IT and pharma companies in India, the real estate sector especially commercial property market has got a major boom.

Indian realty will certainly be the next BIG thing by 2010, says Cherian Varkey, vice-president of Builders Association of India at a seminar.

The present property boom has persuaded several real estate companies to list on the bourses. IPO of Shobha Developers Ltd., Akruti Nirman Ltd. and Parsvnath Developers were oversubscribed. These companies raised Rs 20,000 crore from the capital market.

Recently, the market had witnessed a downslide. However, the current stagnation would only be for a short period as there has been a continuous surge in incomes, adds Varkey.

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