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Russian investors are drawn to Bangalore realty

By Prop Tiger Subscribe to RSS | June 5th 2012 | Views:
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Russian investors comprising property developers, business tycoons and high net worth individuals expressed interest in investing within the Bangalore real estate market , at the recently-held World Congress Meet of FIABCI in St. Petersburg. At this conference that attended by over 800 delegates comprising developers and investors, the city’s potential within the infrastructure, retail, integrated township and hospitality segments drew interest.

A group of investors from a couple of European countries are visiting Bangalore later this month to judge properties here. They're keenly curious about investments in commercial property in Bangalore, integrated developments and within the hospitality sector.

The investors are looking at encroaching into the domestic market through the FDI route with a special purpose vehicle (SPV) started to guide in the investments with a strategic partner here. India includes a tax treaty with Cyprus and therefore the Russian investors don’t have to be compelled to pay tax twice if they use this route.

Several Russian developers and investors have invested huge amounts of cash in Cyprus. These corporations are registered in Cyprus and obtain a tax vacation. This can be a large advantage for the Russian real estate corporations that works well for us too.

Later, at a gathering held at the Russian parliament house, Duma, Mr. Ivan Grachev, Minister of Energy, evinced interest within the city’s IT and property sectors. The minister enquired concerning the housing state of affairs in Bangalore and the way joint development property in Bangalore within the residential section work. He conjointly evinced interest within the public-private partnership model within the development of social housing.

The FIABCI meet was geared toward promoting investment opportunities in member countries. It brought along developers and investors to explore new vistas. Russian investors are pumping in millions of dollars within the property markets of Dubai, Paris and the New York. This meet helped push the city’s realty market. They were happy to notice that property in India, particularly Bangalore, yields over 9 % in rentals and grows by over twenty percent annually.

Investments from Russia can work well for the development business within the town. Also, realtors here will leverage the referral model to expand their business activity to foreign markets. Property investors across the country can have a lot of choices to park funds in too.

Integrated property hold potential with additional rising localities around the town gap up for development. Giant format commercial and residential property in Bangalore hold potential with additional business homes aiming to set shop within the town. The city’s skyline is expanding on all sides and there's scope for additional realty development particularly with the planned commercial belts around the town.

The connectivity with the extensions of the Metro Rail lines and planned development of arterial roads and highways, can mean giant land parcels gap up for industrial belts. This may open up a marketplace for the hospitality, retail and infrastructure sectors during a giant means. With town drawing additional entrepreneurs and a growing realty market, this can be the correct time for investors from abroad to plough funds in.

Prop Tiger - About Author:
PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in Bangalore.

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