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Monday August 22, 2011

Opportunities in Indian property sector

KUALA LUMPUR: Malaysians should invest in India's property sector as prices are expected to increase five or six folds in the next five years, said Deputy Minister in the Prime Minister's Department Datuk S.K. Devamany.

“The prices of properties and land in India are reasonable and can't be manipulated. Malaysians should grab this opportunity,” he said when launching the India Property Investment Fair here on Saturday. The two-day event showcases products of various property firms in India.

Devamany said relations between Malaysia and India had grown stronger with the signing of the Comprehensive Economic Cooperation Agreement (CECA) between the two countries. The CECA envisages liberalisation of trade in goods and services, investments and other areas of economic cooperation.

He added that the sister city agreement between Kuala Lumpur and Chennai, and the Little India in Brickfields had also helped strengthen the relations between the two countries.

The pact presents an ideal platform for the two cities to come together in the fields of art, culture, tourism and economy. “This fair will further strengthen the relations between India and Malaysia,” he added. - Bernama

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