British relators seeking Indian investments

April 23rd, 2008 - 8:51 pm ICT by admin  

New Delhi, April 23 (IANS) British property developers are now looking to promote and sell Britain as a viable and stable real estate market to the Indian investors. “The success story of India is known to all. With high disposable incomes, a large number of Indians are buying overseas properties. Britain can be a potent investment destination for Indian investors looking for stable real estate market,” Seamus Nugent, managing director of Dandara Holdings Ltd, told reporters here.

Dandara, a Britain-based property developer, and their associates Baron Group International Plc were in the capital Wednesday to promote Indian investment in Britain.

On the Indian property market, Nayan Babhishi of Baron International said: “Indian realty market suffers from lack of transparency and legal control that can be negative for the real estate development in the long run.”

“Also it requires a price correction as developers in India are quoting exaggerated prices. India real estate industry needs an immediate price correction to sustain the growth,” he added.

Talking about the impact of global slowdown on the British property market, he said: “The sales in Britain have gone down by 10-15 percent.”

Dandara is a leading developer in Manchester City Centre, and has a number of mixed-use residential and commercial schemes throughout the city for both owner-occupier and investment purchasers.

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