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UK citizens of Indian origin look to homeland for property investments |
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HOME >> NEWS >> UK citizens of Indian origin look to homeland for property investments |
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June 4,2008
 The slowing of the property market in the UK has prompted an increase in the number of British citizens of Indian origin seeking investments in India.
India is regarded as a more attractive prospect since the Indian government relaxed the rules for foreign investment in the housing sector.
Several India-specific investment funds have been set up, while British citizens have increased the number of inquiries to real estate agents in places such as Gujarat, Gurgaon, Bangalore, Chandigarh, Pune and Jaipur. Predictions like that from Merrill Lynch that there will be a 700% increase in the Indian property market by 2015 fuels interest.
On the other hand Indian builders and property agents are increasingly courting investors in the UK. Major exhibitions have already been organised in London, Manchester, Birmingham and Leicester.
'All the economic indicators project a bright, sustainable future for India. In the last two years alone, property prices in India increased by 70%,' said Andrew Fassnidge, managing director of Navyroof.com, a company that highlights investment opportunities in the most up-and-coming areas of India to the UK.
According to UK based David Stanley Redfern the rental potential for investors in India is massive due to a shortage of housing for the growing numbers of blue collar workers in the IT sector and the number of global companies moving to India.
The influx of business in some areas has led to developments being sold out in record time. For example, since Rudrapur was made a Special Economic Zone by the Indian government, the tax incentives have attracted some 458 companies to build factories in a massive industrial estate on the outskirts.
'One development, Mountain View, sold out in record time as people realised the shortage of affordable housing all the new factories were going to create. The fact that it was right by the new bypass making the factories a five minute drive away also helped,' said a spokesman.
Investors in development like these can expect rental yields of around 6-10%, and capital appreciation certainly not less than 15% per year, and potentially anywhere up to 30%, he added.
Source: http://www.propertywire.com/ |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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