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Realtors hope to revive fortunes with property show in London

Posted on by Track2Realty

London, England, UK, British real estate, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2InfraTrack2Realty-Agencies: Over 20 realtors from India will participate in a property exhibition “India U Realty show: Unlock the potential of India real estate” which will bring together high net worth non-resident Indians (NRI) and persons of Indian Origins (PIO) in London to explore investment opportunities in India.

Unesta, a London based property investment company will hold the exhibition on October 6-7 in Wembley, London. Many of these developers are pinning their hopes to revive fortunes after a sharp dip in demand in the Indian market.

A statement issued by Unesta said the aim behind the show is to create an effective platform of understanding, interaction and collaboration for potential purchasers or investors in London and realty developers of India.

The event will showcase properties from India to the substantial NRI community in London in the asset classes of residential, commercial and warehouse. 20 premium developers from India are expected to participate in this event making it one of the largest exclusive Property Shows for Non Resident Indians in London.

The two day property show expects to see over 3,000 visitors and is hoping to be instrumental in some prominent deals.

Vikram Goyal, Managing Director Unesta said in the statement, “London has a very large NRI and PIO population that are looking at investing in property within India. However, the distance and the physical absence make it difficult for them to take informed decision. We realized this gap and through our already existing platform UREALTY (a period publication on Indian Realty for NRIs) have tried to create a platform of interaction and negotiation.”

Goyal said the main purpose of the event is to look at real estate investment beyond residential. The exhibition would also showcase commercial properties such as office space, retail, warehouse and industrial spaces as well, he added.

Cushman & Wakefield, global real estate consultancy will be associating as ‘knowledge partner’ for the exhibition.

Sanjay Dutt, Executive Managing Director, of the company said in a statement, “As an investment destination for NRIs and PIOs, India offers a wide choice both in terms of location as well as asset class. India’s growth story in the real estate market continues notwithstanding the global and national socio – economic dynamics”.

Developers such as Godrej, Total Environment, G Corp, Adani, Wadhwa, Ansal API, ABIL and Kolte Patil Developers Ltd. will be present in the show.

More Indians buying homes abroad, particularly in U.K.

Posted on by Track2Realty

London, England, UK, British real estate, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty-CRIENGLISH: In a country where majority of the people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,a growing number of Indians are keen to buy homes abroad, particularly in the United Kingdom.

According to Lord Andrew Hay, head of global residential services at realty consultancy Knight Frank, “Indians probably represent a broadest purchaser base of any incoming nation.”

He said that in comparison to customers from the Middle East or Russia, who are just interested in owning “trophy assets,” or the ones that are priced anything between 20 million to 80 million pounds, Indians are also buying relatively cheaper assets, which they would prefer to be their residence.

“Interestingly, the Indian purchaser base is much broader. Although there are some Indians buying trophy assets and iconic buildings and hotels, they are also buying a lot of 300,000 and 500,000 pounds properties in all of England,” said Hay.

At least 70 percent would be for their own accommodation, he added.Hay also said that the phenomenon is not just restricted to London, but is being witnessed across the country. Increasing number of Indians is looking for good value investment across the U.K., he said.Hay said, “Indians are arriving in all different locations.

In London, in terms of numbers, they would not be much, maybe say five percent, but some of the purchases made were very significant. In other parts of the country, say north-west London, in Birmingham, in the Mid Lands, they are a very significant part of the market. In certain areas they would be 25 percent.”

In terms of how Indian real estate is being viewed by the foreign investors, Hay said that though there is “confusion”and “ignorance” about the Indian market, it still ranks above China in terms of potential for investment in real estate.

Hay pointed out there were still lot of hurdles for property ownership in China, which were holding investors back at the moment. Also, investors saw far more transparency, legal certainty, economic and political stability and currency stability in India, than in China, he felt.

However, a number of people have returned disillusioned from India as well. The country needs to work upon areas like transparency in real estate dealings, ease of acquisition, permissions for development and others, to give investors confidence in the service and transparency of the Indian real estate market.

On the pricing of residential properties in India, as cities like the commercial capital of Mumbai in the western state of Maharashtra Mumbai and the national capital Delhi are often rated among the costliest places to live in the world, Hay said it was a challenge for most of the markets.

He said, “There is the same thing happening in the U.K. The developers want to build the best product to achieve the best margin, but that is not necessarily shared by the government or the local authorities who want to provide housing for people who need it.”

He said that the price does not come down because of the demand. “I think since the demand is here in India, why would the prices fall? “Unfortunately, in India, there is too much clamor for price reduction,” added Anand Narayanan, national director( residential services), Knight Frank India.Instead of falling, the prices of residential property should stabilize. “Nobody buys when there is blood on the streets.”