05/05/2006
UK's real estate service provider plans India foray
The burgeoning domestic real estate market has started to attract yet another section of the global real estate industry — real estate service providers (RSPs).
The UK-based MoneyWise group, which provides advice on financial planning, mortgage broking and investment property sourcing, has entered India. It will invest £100,000 (approx Rs 80 lakh) here to expand its presence by setting up new offices.
The realty share in India’s GDP has gone up to 7% from 5.2% in ’02-03, but it still compares poorly to 15% share of realty in developed economies. Hence, the potential for growth is enormous, which is luring foreign companies.
MoneyWise has tied up with 20 realty developers like Bangalore’s Prestige and Sterling group, Pune’s Kumar and Gera Developers, Delhi’s Vipul and Unitech and Mumbai’s Keystone group to offer properties to 1,000 odd clients.
For more details follow this link http://economictimes.indiatimes.com/articleshow/1492557.cms
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