The booming Indian Real Estate has made Property developers billionaires overnight, with profit overflowing in the sector. Office and shopping mall rentals continued their upward trend, the pace being very vigorous in Delhi and Mumbai. At present Mumbai is at the second place in the list of most expensive office markets in the world with Delhi at eighth.
The real estate industry is estimated to reach $60 billion by 2010 with a growth rate of 30 per cent. The industry entered the Dalal Street in a big way and floated 12 public issues in the year, making it a leading sector in terms of fund raising.