Overseas developers eyeing Tier II, III cities
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According to the sources available with www.propertykhazana.com, realty in metros is moving slowly as opposite to this tier I & III cities witnessing fast development in stir of new realty ventures to be constructed by foreign developers who are confident on Indian Realty but want to catch smaller cities. Currently, leading realty company in Dubai Emaar Group has signed an equivalent JV deal with Delhi based MGF to develop ventures costing about $4 Billion in India. Companies have resolute to appear with construction rising land markets like Hyderabad, Mohali, Ludhiana, Jalandhar and Chandigarh. MP has seen its initial lot of FDI with a start on of Silver Springs’ housing township in Indore which is mutually promoted by Fire Capital Fund Pvt. Ltd. based in Mauritius and M Jhaveri Group.
Sources revealed at www.propertykhazana.com is, Prozone Enterprises, a secondary of the retailer Provogue India has also purchased main shares in SPV floated by Hagwood Commercial Developers and by Omni Infrastructure to build up a elite shopping arcades in Nagpur and in Indore. Jurong International, a multi punitive Group has offered a planned set of design and construction will shortly rise up with Super Township in Amritsar which is spreading for more than an area of 80 hectares. After that, there is the Jerusalem Economic Corporation (JEC) proposing to purchase property in Thane and the worth of the property will be $330 Million.
Source: NIMMA BENGALURU
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