| India, along with China, is the fasest growing market in the world. Indeed, there is already talk that the China market is heating up, while India will continue to enjoy its 8 to 10 per cent phenomenal growth for the next 10 years. A number of reasons are given for this: India's one billion-plus population, the country's status as the world's largest democracy, its vast software expertise and its still-undervalued and under-developed economy which offers tremendous opportunities for investors.
The main cities of India are: New Delhi, Mumbai, Bangalore, Hyderabad and Chennai. Of the lot, Chennai has the biggest potential for development as the others have seen vast development way before. Just a decade ago, the price of property in Mumbai was comparable the most expensive in the world. The prices in Chennai has just begun to rise. Indeed, they have risen as much as 300 per cent in the last two years and it's expected to rise another 500 per cent or more in the next five years. In other words, you invest $10,000, it will rise to $50,000 in five years' time. The big rises have taken place in the city such as T Nagar, Anna Nagar, Beasant Nagar, Adayar, Poonamallee, Nanganallur and on the outskirts like Sri Perumbudur, Thambaram and Wallajabad etc. So is it too late to go in now? Not at all. In fact, the best opporunity for the sharp, cautious and small-time investor is now. They can put their money in areas such as Thiruvalangadu, Arakkonam etc which are fast developing. They don't cost much. Perhaps, as much as $20,000. But the chances of realising an increase in their investments are very high.
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