NEW DELHI: Sustainable Real Estate presents India with an unique opportunity to make concrete progress in the country's effort to improve its environment.
In a recent research report titled 'Sustainable Real Estate Development in India', Jones Lang LaSalle Meghraj highlights the increasing trend of sustainable development in India.
MUMBAI: His father is a hugely colourful multi-billionaire real estate tycoon — whose name adorns some of America's iconic properties — and a reality TV show boss. Now Donald Trump Junior, the 30-year-old son of Donald and Ivana Trump, is taking a hard look at investing in India's booming real estate in the next 18 months. And Mumbai, among other cities like Delhi, has got junior all excited about focusing his business interest in luxury homes.
Indian real estate developers, enjoying boom times, want your capital. Here's one way to get it to them.
The Capitalist fervor in India has, not surprisingly, a real estate component. The development business--the construction of new commercial, industrial and residential properties--is growing at least 25% a year, says a report by the Federation of Indian Chambers of Commerce & Industry and Ernst & Young. That puts it at a minimum $5 billion worth of projects over the next couple of years. High rents in Mumbai place the city firmly in the top ten most expensive office markets, along with London, Hong Kong and Tokyo.
Trikona Capital, currently the single largest real estate fund dedicated to India, is planning to invest $10 billion in real estate and infrastructure sector over the next 10 years. Trikona has earlier raised close to $500 million in UK and has commitments worth $1.5 billion in over 14 projects in the country.
Aashish Kalra, managing director and co-founder of Trikona Capital, spoke to Tinesh Bhasin on the real estate industry and how the fund plans to invest in the current scenario.
The real estate sector in India is on a high growth path. Several government initiatives have contributed to this high-growth environment - liberalisation of foreign direct investment norms in real estate in 2005, introduction of the SEZ Act, and allowing private equity funds into real estate.
In addition, the government allocated Rs 50,000 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in order to improve urban infrastructure in 63 cities.
BSE real estate index shed 2.9 per cent was one of the key losers among the sectoral indices. Auto, Consumer Durables and Metal indices also lost ground in a day of volatile trade.
Indiabulls Real Estate at Rs 607 shed 6.2 per cent was the biggest loser among the realty pack. Akruti Nirman (down 3.8 per cent), Omaxe (down 3.7 per cent), Unitech (down 3.5 per cent) and Ansal API (down 3.2 per cent) closed on negative territory.
