Although the number of timeshares in India is small in comparison to the overall market (146,000 owners versus 6.7 million overall), the number will grow over the next decade. A report by real estate consultants Cushman & Wakefield and Group RCI predicts the demand for timeshares in India will grow by 16% per annum between 2006-2015 as timeshare and fractional ownership gain acceptance in India.
Most of the resorts will be concentrated in the western part of the country in places like Mumbai, Pune, Ahmedabad and Surat. New destinations like Coorg and Munnar in the South will open as well as tourism increases throughout the country.
The legal structure for timeshare and fractional ownership is still being put into place in India. At the same time, the curiosity of luxury properties without normal ownership is growing. Only time will tell how the industry will grow in India. Hopefully, there will be a better plan for timeshare owners than in the US where the resale market is nearly non-existent. Timeshare Relief has no plans to be in India any time soon.
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