new delhi an upswing in the business process outsourcing industry in india will create the need for 200 million sq ft of additional real estate space in the country over the next five years a global consultancy firm has predictedthe overall trend for real estate in india is very positive with an expected increase in real estate prices for the next two years said the study by usbased nai formerly new america international in its latest global market reporta possible liberalisation could make india one of the most preferred locations for foreign real estate investment looking at the steady increase in economy and one of the most secure locations in the asia pacific regions the study addedthe other positive factor is the emerging interest of foreign investors and international real estate funds in india said abhijit malkani regional director of nais india operationsthe market is upbeat about a hope of liberalisation in the investment policy in the near future he said adding the creation of 35 million new jobs in the it sector by 2009 would require 1020 million square feet of space per annumthe residential section will get a boost to house this new prosperous workforce these business relocations will drive the local housing demand malkani told ians quoting the study covering delhi mumbai kolkata chennai hyderabad and bangalorethe national capital region ncr would consolidate the gains in property prices and would continue to witness an upward trend in the next two years with a return on investment of between 11 and 18 per cent per annum the study saidthe gurgaon region has been the hotspot for commercial expansion and residential relocations this region has seen capital values appreciate in the excess of 4050 per cent the study addedmumbai indias financial capital remains a land of opportunity and the recent availability of retail and commercial space in the mill areas has ensured increased supply of real estate spacethe positive move towards suburban areas like andheri and bandra kurla has increased demand in these areas the expected returns in the mumbai region for the next year would be a return on investment of around 1218 per cent it saidbangalore the study says continues to be the favourite destination for the it industry and this market thanks particularly to the high income among the youth has completely changed the valuations of real estate the study saidsome of the suburban areas in bangalore have seen capital appreciation close to 3040 per cent in 2004 the average return on investment in bangalore should be between 13 and 19 per cent which is surely one of the highest in all metroschennai too has witnessed hectic activity in the commercial real estate market in the first three quarters of 2004 with the it and itenabled services sector being the key drivers of the commercial property market large developers are aggressively developing integrated townships in and around the city and the residential real estate market is on an upswing driven by low interest rates and a