News & Views on Indian Real Estate

Friday, August 08, 2008

Cento to sell 500 Indian realty projects in overseas market

Global realty consultant Cento International Investments on Tuesday said it expects to sell 500 Indian real estate properties in the overseas markets within next three months attracting a net worth of over Rs 250 crore by projecting the country as an investment destination. The UK-based consultant is in advanced stages of discussions with many developers, like Parsvnath for its 'Nano City', K Raheja Group, DS Kulkarni, Lodha Group and Alpha G Corp, for showcasing their projects in the European markets.
"We are in final stages of talks with them (developers) and will be showcasing their products in London for selling. We expect to sell 500 properties of these developers of at least Rs 50 lakh each in the next three months," Cento International Investments Director (Sales) Nitesh Alagh said. The company would mainly project both residential and commercial properties in Tier II and Tier III cities, he added. "After a formal tie up, we will also be selling properties of Parsvnath's recently launched Nano City in Haryana, where Shabeer Bhatia is one of the promoters," Alagh said. The company would tie up with 40 developers across the country to help in selling their properties and to attract overseas investments into India in the form of joint ventures with the domestic firms, he said. "Investors in the Europe are eagerly waiting to invest in Indian properties, but they can not directly do so because of restrictions. The government should relax the norms so that there will be no obstacles in money inflow into the country's real estate sector," Alagh said.