Buoyed by an exciting real estate market, investors in Britain increasingly prefer India for investment looking for higher profits on the back of a slowdown in Britain’s realty market.
Navyroof.Com, a company that emphasizes investment prospects in the most upcoming areas of India to the UK investors, Managing Director A. Fassnidge said: “All the economic indicators project a bright, sustainable prospect for India”.
In the previous two years alone, property prices in India increased by 70 %.” India is also seen as an eye-catching destination because of the Indian government recently relaxing rules for foreign investment in the housing sector.
Merrill Lynch consultants have forecasted a 700 % increase in the Indian property market by 2015. Meanwhile, except in quite a few areas in London, property prices all over Britain have recorded at least a 2% drop in the previous year because of the credit crunch and a further fall in prices is predicted.
British citizens of Indian-origin are increasingly investing in places, for example Gujarat, Gurgaon, Bangalore, Chandigarh, Pune and Jaipur. In order to guide NRIs for purchasing property, Indian builders and property agents often organize exhibitions here.
The latest to organize exhibitions is the Housing Development Finance Corporation (HDFC), which would organize a two-day show called “India Homes Fair” here from June 28.
About 18 leading developers, including Ansal, Unitech, from India will showcase flats and villas at the event.
Renu Sud Karnad, joint managing Director of HDFC, said: “Home buying is a tedious process. As pioneers in housing finance, we have well understood this need and have thus organized this exclusive event to guide our NRI customers so that they take an informed decision.”