Trump Tower: Start of the New Era of foreign Investment in India
Now that we have a new government, their initiatives to make India one of the top investing countries seem to be getting paid rather quickly. As per the latest that we have heard the American real Estate tycoon Mr. Donald Trump is eyeing and planning for investment in Indian hotel and real estate sector.
What’s the investment all about?
The promises given by Mr. Modi led government to enhance the infrastructure and boost economic growth of the country seems to have impressed Mr.Trump and he is looking for significant investment in the country. Mr. Trump was in India to launch his Trump tower in the financial capital of country- Mumbai.
So what made Trump to change his mind?
This investment has been probably due to the business and friendly minded leader of the country. He stated that if he was asked about investment in India couple of years back, it would have been a completely different situation.
Indian real estate market has been seeing a huge setback due to the high inflation rate and interest rates, there has been considerable decline in the home sale and huge loss has been incurring losses due to this. Post the change of the government in India, there has been nearly 5% increase in the home sales across metropolitan cities, which is comparatively 11% higher than the growth seen during the previous government rule 2 years back. Looking at the current home sale Real estate investment trust has been started to boost the foreign investment in the real estate sector.
In addition to the investment in the Indian real estate sector, Mr. Trump has been looking for investment in hotel and skyscraper in USA as well as has projects lined up for places like South Korea, Dubai and Turkey.
Trump Tower:
In order to win over the millionaires residing in India, the Trump tower will be a 75 storey and 800 Foot building. As per the Lodha group, top luxury real estate developer, the aim behind the tower is to raise the level of luxury and services in India. It is aiming to create a new definition to the Skyline of Mumbai. This tower has been planned to include 3 to 4 BHK with indoor Jacuzzi and the price tag could be expected more than $80 million and more.
Mr. Trump has started the Trump tower in collaboration with the Lodha Group of India and has given hint of another probable investment in the city of Pune which is due for completion in 2015.This also might to be by entering licensing pact with another company.
