Indian real estate in bubble territory

[HenryTo]

http://www.bloomberg.com/apps/news?pid=20601109&sid=aBaEvTQjrrEg&refer=home

Quotes:

Indian developers are among the BSE index's most expensive members on a price-to-earnings basis. Unitech trades at 31 times expected earnings, while Anant Raj, a New Delhi-based developer in which billionaire George Soros bought a stake last year, is at 67 times. That compares with 21 times for the BSE-500 and 19 times for the eight stocks in Bloomberg's Asia-Pacific Home Builders Index.

Mumbai's office rentals are now the third highest in the Asia-Pacific region after Hong Kong and Tokyo, a survey by property adviser DTZ Debenham Tie Leung Ltd. showed. It costs annually $88.2 per square foot to rent office space in Mumbai, compared with Tokyo's $97 and Hong Kong's $141.