Billionaire Zell to invest in Indian realty
Billionaire Sam Zell said he is entering the real estate markets in Colombia and India in the next two weeks as he continues to favor international investments over U.S. property deals.
Billionaire Sam Zell said he is entering the real estate markets in Colombia and India in the next two weeks as he continues to favor international investments over U.S. property deals.
With the US and European debt crisis affecting sentiments across the world, the Indian real estate sector is likely to see a gloomy phase in the next 12 months.
The prices of properties in India will increase by five to six times in the next five years, said Deputy Minister in the Prime Minister’s Department Datuk SK Devamany today.
A prominent group in Singapore plans to act as a facilitator to bring in China’s savings into the Indian economy and other South Asian countries.
The Indian rental housing sector is seriously under-serviced by the organized real estate industry.
Reforms in the real estate sector is the need of the hour for tackling issues like high stamp duty which often results in otherwise honest people having to deal in black money, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday.
Through a hailstorm of bouquets, brickbats, controversies and triumphs, the Indian real estate sector has always been one of the mainstays of the country’s economy. At some level, every Indian is connected with it; in some way or the other, it affects every citizen of this country.
U.S. billionaire real-estate developer Donald Trump is entering the Indian realty market with a luxury residential tower in Mumbai, more than two years after announcing plans to expand in the south Asian nation. Trump, who has partnered with Mumbai developer Rohan Lifescapes Pvt. for his first venture in the country, expects to start marketing the project by March, said Donald Trump Jr., Trump’s son and executive vice president at the Trump Organization LLC.
Gurgaon initially gained prominence as an outsourcing centre for major international companies that found it cheaper to locate their back-end operations in India due to the availability of high-quality but cost-effective employee resources. GE Capital initiated this trend and was the first multinational company to enter Gurgaon in 1997.
Track2Realty Exclusive: Slow economic growth affecting housing market
The recent Indian economic growth has been hampered by several domestic and global factors, resulting in the GDP growth plunging to 3 years low at 5.3% in 2QFY13[1]. Factors such as weak global economy, high interest rates, high inflation, high fiscal deficit, and lack of reforms were the primary reason affecting the GDP growth.