The Indian Realtor firm, "Property Affaire's" opened its office at Mississauga in Toronto because of strong desire of NRIs for luxury housing in their home country, India.
The Managing Director Sandeep Kapoor said , "Property Affaire's, based in Mississauga that represents 12 developers with 60 under-construction properties, provides total packages to the customers, including property management, financial and legal services, and warranties against fraud."
He added, "Although India's home-grown market is huge, developers believe international sales raise the cachet of their projects and the company "brand"-- an advantage for those who hope to undertake projects abroad.A number of Indians and others have shown interest. We want them to make investing in real estate easy."
In 2005 the india's property hiked as much as 40 percent in some cities. But last year it reached to 60 to 70 percent hike. The price of properties in the cities like Mumbai, Bangalore, Kolkata and Chandigarh, and satellite townships such as Noida, Gurgaon and Ghaziabad around Delhi had already doubled.
He also added,"While non-resident Indians can repatriate the sum they initially invest in property, Indian law forbids them taking any resale profits out of the country.The biggest challenge will be to change the mindset about India. People who left the country 15, 20, 30 years ago still feel it is the same in terms of corruption, bribery. But things are totally changing. It's much more transparent now, so property is a very safe investment."
No comments:
Post a Comment