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