Real estate investment in Uttar Pradesh surged 106% between 2008-09 and 2012-13, attracting Rs. 14,000 crore and ranking sixth nationally, according to ASSOCHAM.
India's realty investment fell sharply, with only Rs.42,000 Cr invested, down from Rs.92,600 Cr in 2012, according to ASSOCHAM.
Gujarat led realty investments in the last fiscal year, capturing 41% of total investments, despite a nationwide decline. The state's growth surged by 700%.
With the decline in gold prices, investors are opting for gold over real estate, causing a shift in investment patterns.
Foreign developers target Indian High Net Worth Individuals (HNIs) as India's economy is projected to be the world's third largest by 2050, leading to a rise in wealthy individuals.