Mall projects, IT workspaces, upscale residential units. The list goes on and on. Real estate in India is being developed, and quickly. Many investors, within India and without, are excited for the expansion of investment opportunities in the real estate sector. With the smart city initiative that India’s Ministry of Urban Development has undertaken and other factors of globalization, this expansion in Indian real estate development is only set to continue for years to come. For investors looking for potential developers to partner with, it can be difficult to pick out a firm that balances risk and reward appropriately. Here is a list of 4 top real estate developers who are known for doing just that and more:
- Sobha Limited: Established in 1976, Sobha Limited is one of the largest real estate developers in the Middle East. They are also the only backward real estate developers in India. The firm has its headquarters in Bangalore and mainly deals in contractual and residential projects. The projects range from villas and presidential apartments to row houses and plotted development to hostel facilities and multiplex theaters. The company’s client list includes Timken, Biocon, HP, Dell, Taj Group and Bosch. The company is currently working on nearly 80 million square feet of real estate development, with nearly 400 projects completed since inception.
- Embassy Group: Established in 1993, Embassy Group is one of the top real estate development firms in India. The firm has developed roughly 37 million square feet of real estate, including industrial, hospitality, retail, residential and commercial spaces. But the firm is best known for its development in integrated office parks and other commercial properties. The group has ongoing projects in Malaysia, Serbia, Coimbatore, Pune, Chennai and Bangalore. In recent years, Embassy Group has been awarded the CNBC Awaaz Real Estate Best Commercial Project, Realty Plus Awards Best Environmental Friendly Project and the NDTV Property Awards Best IT Park.
- Tata Housing: Established in 1984, Tata Housing is a subsidiary of TATA Sons Limited. The company went through a slight slump but a had a major revival in 2006. It is now one of the fastest-growing real estate development firms in India. The firm works with property in retail, commercial and residential and is currently developing over 70 million square feet in real estate. Tata Housing gave Bangalore its first LEED gold rated green building and they have pioneered low-cost housing. The firm has won awards for their marketing campaigns, their affordable housing projects and their mixed-use developments. They are currently working on projects in Mumbai, Gurgaon, Bhubaneswar, Kolkata, Kasauli, Bhandup and more.
- Puravankara: Established in 1975, Puravankara is one of the most preferred real estate developers in India, both in residential and commercial properties. The company has already completed 50 projects on more than 23 million square feet, and they are currently developing nearly 25 million square feet of real estate, with another 23 million square feet in the pipeline. While the group originally concentrated on projects in Mumbai, they have now expanded to other major cities like Mysore, Hyderabad, Coimbatore, Chennai, Kochi, Bangalore and a few international locations. In the Indian real estate market, Puravankara was the first firm to obtain FDI, and has bagged distinctions from both FIABCI and the Realty Plus Excellence Awards.
Getting involved in the Indian real estate market has many upsides. But there are some downsides, or at least some risks. Instead of taking your chances and investing based on gut feeling, work with a trusted advisor who has your best interest in mind. Waugh Global is a sub-continent real estate portal that helps to connect investors with trustworthy and successful real estate developers. Contact Waugh Global today to get guidance on your first steps into real estate development in India.