Investing in property? Try UK!
UK-based Dandara Holdings Limited is holding roadshows in Delhi and Mumbai showcasing residential property at Greater London, reports Varun Soni.india Updated: Apr 25, 2008 00:11 IST
If you have a crore or two to spare, there is real estate up for grabs at Delhi, Mumbai, or London, chose the city you like and just go right ahead.
If United Kingdom is your preference then here are some options on offer.
UK-based Dandara Holdings Limited in tie-up with brokerage firm, Baron Group International is holding roadshows in Delhi (March 23-24, 2008) and Mumbai (March 29-30, 2008) showcasing residential property (mostly two-bedroom apartments) at Greater London, Manchester and Glasgow with mortgage, rental and legal management thrown in.
You will even be able to earn a monthly rental income to the tune of £800-900 once the projects are completed. Compare it to Gurgaon or even Mumbai, where two-bedroom apartments (in suburban locations) will not fetch more than Rs 30,000 per month.
All you have to do is pay a reservation fee of £2,000 and 10 per cent of the property value after the issuance of a contract. If you have taken a mortgage of 80 per cent of the total amount, then the remaining 10 per cent needs to be paid at the time of completion of the project. Foreigners can easily invest in the UK and the process is the same as in India.
"The properties on offer are all residential projects located in Hemel Hempstead outside London, Manchester and Glasgow. The average price of a two-bedroom apartment in all the properties starts at Rs 1 crore," said Seamus Nugent, Managing Director, Dandara Holdings Limited.
However, with the UK predicted to face a shortfall of a million houses by 2020, what is making Dandara target Indians? "It's true that the demand is more than the supply in the UK, but we are targeting investors and not end users from India. We are providing an investment opportunity to the growing upwardly mobile class in the country, who can spare a crore or two," said Nugent.
The investment will also enable Indians to get a foothold in the UK, he said.
However, investors must check the credentials of foreign developers and find out about their earlier projects before putting in their money. "You must ask why a builder has come all the way to India to sell property when there is a demand-supply mismatch in his own country," said Rajiv Agnihotri, Senior Business Analyst, Propertiesindia.com