ndias booming fund industry is about to get even hotter with the launch soon of real estate mutual funds, which will make pricey property investments affordable to millions.
Only 5% of Indian wage earners buy property as an investment, according to the Invest India Economic Foundation, as real estate prices are well out of the reach of many in a country where the per capita income is below $1,000.
Real estate funds, expected on the market within six months, will lower the entry barrier to about $120 and corner at least a 10th of the fund industrys assets by 2013, industry players say.
They will also create a more liquid secondary market for real estate assets at a time when banks have tightened lending and a steep drop in share prices has limited the scope for developers to raise funds through public offerings.
More : gulf-times.com
Send an E-Mail for India Property Enquiry!
Related News from India Properties
Unitech plans 360 mln stg placing to fund real estate buy, seeks AIM flotation
Unitech Corporate Parks PLC, an Isle of Man-based company which concentrates on Indian commercial real estate, said it is planning a placing of about 360 mln stg to fund its next property purchase, and that it is looking to float on AIM. The company said its planned investment will comprise six commercial real estate development projects in India, all focused on the IT industry, which it will undertake alongside Unitech Ltd -- Indias largest listed real estate developer by market capitalisation -- and its units. Atul Kapur who will be chairman of UCP, said of the move: We will be
What is next for Indias growing steel industry?
What is next for Indias growing steel industry? There was much jubilation in India when the Tata Group, an Indian conglomerate, won a bid late last month for the Corus Group, an Anglo-Dutch steel firm. The deal catapulted the new global entity to become the worlds fifth-largest steel firm. At more than $12 billion, Tatas purchase is the largest acquisition ever by an Indian firm. The success of the takeover had Indian financial analysts celebrating more than just another superlative. The purchase signals a milestone for Indias economy as it matures from an attractive investment destination to a global investor. More :
Indias Innovation Incentives
Waking up to the need for monetizing innovation, India is set to introduce legislation that will offer incentives to the scientific and business community to create more intellectual property, said Kapil Sibal, Minister of Science and Technology and Earth Sciences, at the World Economic Forums India Economic Summit. In the forthcoming budget [in February 2007, the government will announce a public fund for innovative ideas, of which 30 percent will be for licensing or patent fees, 30 percent will go to funding the project, and the rest, 40 percent, will be given to the institute where the research takes place,
Indiareit Seeks Up to $750 Million for Property Fund (Update1)
Indiareit Fund Advisors, the venture capital firm controlled by the Piramal Group, plans to raise as much as $750 million overseas for what could become Indias second-largest real estate fund. The Mumbai-based company may begin tapping investors in the U.S., Europe, Middle East and Japan by year-end, Managing Director Ramesh Jogani said in an interview yesterday. The fund will invest in companies building apartments, malls and offices in India. India, the fastest-growing major economy after China, may receive as much as $10 billion in overseas funds betting on real estate in the coming 2 1/2 years, Indiareit estimates. Housing Development
Trump Jr to raise $1bn India property fund
Donald Trumps son is trying to raise a $1 billion (€631 million) property fund to capitalize on Indias economic growth with plans to develop high-end luxury projects, initially in Mumbai. With real estate valuations correcting across the country, Donald Trump Jr. told Bloomberg the time was right for the Trump Organization to enter the market. The fund, expected to target as much as $1 billion according to the report, would be for acquisitions of real estate in the high end, and across the spectrum, he said. The Trump Organization was unavailable for comment. The fund would start off relatively small and grow