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| WN Indian Real Estate |
India Real Estate Up
03/16/2007
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Returns of 33 percent expected.
Real estate values in the United States may be relatively flat,
but Indian expatriates or Americans of Indian ancestry can dive into the
residential real estate market in the Delhi area, where returns of 33 percent
are expected for the next five years, according to a February 1 article in the
International Herald Tribune. While foreigners cannot own land in India,
persons of Indian origin, going back as far as four generations, can qualify to
buy. The boom is being fueled by a growing number of well-paid high-tech
workers. Among the condominium projects is one with units ranging from 4,000 to
6,500 square feet, at $136 per square foot.
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