Sri Lanka calling
Indians have started investing in properties in Sri Lanka as well
Oct 21, 2014
Source : The Financial Express



Of late, Indians have started investing in properties in Sri Lanka as well. “There is considerable interest from Indian investors and second-home buyers, with the demand being more or less balanced between these two segments,” says Gagan Singh,

CEO-business (India) and chairperson, JLL’s Sri Lanka operations. She adds that there is considerable interest from buyers in Tamil Nadu and Bangalore, particularly in homes along Sri Lanka’s coast and also in multi-storey apartments in Colombo.

However, there are some limitations to Indians investing in property in Sri Lanka. Like all other foreigners, they have to come up with 100% of the property cost and cannot avail of loans for this purpose. Also, in the case of multi-storey flats, they cannot buy a property below the fourth floor. Land investors typically adopt the leasing option, as outright purchase is very complicated.

Despite that, the Sri Lankan market, besides the Maldives, seems to be an attractive one for Indians. Additionally, Indian developers such as Tata Housing and Kalpataru are active with projects in Sri Lanka and the Maldives, catering not only to local demand, but also beginning to focus on Indian buyers.

Tata Housing in September signed a revised agreement with the Maldives government to complete a housing project in Male being developed at an investment of about R1,000 crore. It is understood that this pact will pave the way for the resumption of construction work on the project that has been on hold for two years due to issues over terms and conditions of the contract.

In 2010, Tata group’s realty firm, Tata Housing, had signed an agreement with the then Maldives government to develop the housing project at four different sites in that country. “We are positive that this will significantly contribute towards building strong bilateral relations between India and the Maldives, thereby encouraging other companies in India to enter into similar JVs,” says Tata Housing MD and CEO Brotin Banerjee.

Tata Housing also plans to expand its international footprint to other Saarc nations and Africa.

Latest Realty News

NHB's decision positive for home finance sector: DHFL President
Oct 21, 2014
COIMBATORE: The decision of National Housing Bank (NHB) to permit home loan borrowers to bring in just 10 per cent as upfront payment for availing loan above ?20 lakh is expected to give a boost to big ticket loans
Mumbai to witness an additional demand of housing units by 2018-end
Oct 20, 2014
MUMBAI: The city is expected to witness an additional demand of around 231,000 housing units across all segments by 2018-end
Land illegal, projects in Sector 110 sealed
Oct 20, 2014
NOIDA: The Noida Authority sealed several under-construction housing projects in Sector 110
BJP likely to cancel Rs 58cr Skylight-DLF deal in Shikhopur
Oct 20, 2014
CHANDIGARH: The Rs 58 crore deal between Vadra's Skylight Hospitality and DLF becomes the biggest symbol of Congress misrule in Haryana
‘Indira houses for all’
Oct 20, 2014
Jharkhand: All eligible families would be provided dwelling units under the Indira Awas Yojana (IAY) by 2022
Master plan view window widens
Oct 20, 2014
Patna: The last date for submitting feedback on draft of the city’s proposed master plan has been extended to November 15
Hyderabad likely to witness shortfall in realty space: Report
Oct 20, 2014
Hyderabad: With an estimated overall demand-supply gap of around 231,000 units until 2018, Hyderabad is likely to witness one of the highest shortfalls due to the comparatively low supply scheduled to be delivered in the next five years
New alliance comes into being in Dubai’s realty space
Oct 20, 2014
Dubai: A new real estate development company has been formed through an alliance between Sharaf Investment Group and Al Ali Real Estate
Builders, lenders can benefit from proposed changes in road contracts
Oct 20, 2014
NEW DELHI: The government is set to overhaul highway contract documents to provide extra comfort to lenders and project developers to get road projects going and boost investment
Carnival Group in talks to buy L&T Realty's Elante Mall
Oct 20, 2014
Mumbai: Carnival, a media & entertainment group based in this city, is in advanced discussion with Larsen & Toubro (L&T)Realty to acquire the latter's Chandigarh mall

Latest Realty News Of State

Realty Talk's