| India is currently suffering from a deficit | | | | will be released Autumn 2005 and feature a |
| of between 80 – 100 million housing | | | | variety of Mediterranean styled homes for |
| units and the country's government have | | | | freehold purchase. |
| realised that foreign direct investment into | | | | |
| the property sector is key to solving this | | | | The initial one billion dollar investment may |
| strategic issue and to further boosting the | | | | well be record FDI for the real estate sector |
| country's growing economy over the longer | | | | in India but it heralds merely the start of |
| term. | | | | Royal Indian Raj International Corporation's |
| | | | commitment. Royal Garden Marina City and |
| Having identified this fundamental fact, the | | | | Financial Harbor are the next two projects on |
| government have issued brand new legislation | | | | line to be developed in Mumbai which is |
| to liberalise the laws of FDI with regard to | | | | India's financial capital. Over sixteen |
| the property sector in India and immediately | | | | billion dollars of investment will be raised |
| the Indian real estate market has embraced a | | | | to develop the projects which will cover over |
| record amount of overseas investment which | | | | five thousand acres of prime real estate in |
| has been committed by US based investors to | | | | Mumbai. |
| new housing projects in the cities of | | | | |
| Bangalore, Mumbai, Kolkata and New Delhi. | | | | Royal Garden City in New Delhi and Royal |
| | | | Garden City in Kolkata will follow with |
| The housing market in India is already | | | | project start dates targeted to commence on |
| oversubscribed – demand exceeds supply | | | | schedule in the Summer of 2006, and in total |
| as stated – and the divide is growing | | | | the company have committed to the Indian real |
| by up to 34% a year. There is therefore room | | | | estate market for the next ten years during |
| for substantial growth and impressive profits | | | | which time they will aim to create 10,000 new |
| and returns and these facts have been | | | | direct jobs and 40,000 new indirect jobs in |
| identified by Nevada based Royal Indian Raj | | | | India. |
| International Corporation who have teamed up | | | | |
| with the New York based investment banking | | | | This overseas investment commitment is |
| company Greenwich Group International to | | | | understood to have been built off the back of |
| jointly announce a one billion US dollar | | | | the overall strengthening of the Indian |
| initial investment into India's property | | | | economy, the rise in personal wealth levels |
| sector. | | | | being enjoyed by many Indian citizens and the |
| | | | associated rise in consumer spending, |
| The initial project being undertaken by the | | | | together with the improvements being made in |
| conglomerate is Royal Garden Villas, a | | | | local lending facilities and of course the |
| seventeen acre residential development on the | | | | growing demand for housing units that cannot |
| outskirts of Bangalore and just 25km away | | | | be met by local constructors in the short to |
| from the brand new Bangalore International | | | | medium term. |
| Airport. The first phase of villa development | | | | |