Real Estate Raj

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.