Positivity is flowing. Optimistic news reports are being released. The real estate market in India, which has been in somewhat of a slump for the past few years, seems to be making an impressive comeback. Not only have unsold inventories declined by 7% in the last year, but home sales are up more than 6%. Retail real estate has also become a popular investment, with concern growing that demand for retail real estate is significantly greater than supply in India. With real estate on the rise, domestic and foreign investors are looking for the top real estate developers to partner with. Here is more information on four of the best:
- Kalpataru: Established in 1969, the real estate development firm is one of the top groups in India. They mainly work on projects that are located in Pune and the metropolitan region of Mumbai, although they also have projects in Chennai, Hyderabad, Surat and Jaipur. Kalpataru works on a variety of projects, including redevelopment projects, lifestyle gated communities, integrated townships, retail, commercial and residential–most of these projects are categorized as premium. Kalpataru is also a firm known for its innovations. They were behind the first commercial building with three levels of basement parking, the first to offer stepped row houses with private terraces in Mumbai, and the first in Asia to offer a building with Platinum Level Certification LEED.
- Lodha Group: The Lodha Group was established in 1980. The group has had the largest sales in India for the last 3 years and is one of the most profitable property development groups in the country. At the moment, they are developing roughly 43 million square feet of real estate, mostly in Mumbai Metropolitan Region but also in London, Mumbai, Pune, Hyderabad and Bangalore. The group is best known for Palava City, the first Greenfield smart city in India, and World One, the tallest residential tower in the world.
- Prestige Group: Established in 1986, the Prestige Group is a leading real estate developer in India. The group has already completed projects covering more than 67 million square feet, and currently they have projects covering more than 70 million square feet. The Prestige Group has projects throughout South India, including in Bangalore, Chennai, Goa, Hyderabad, Mangalore, Kochi and Mysore. In all of these cities they have completed projects like landmark malls, tech parks, large townships, luxury villas, SEZs and hotels. The Prestige Group is responsible for the globally renowned Forum Mall and Prestige Golfshire.
- Shapoorji Pallonji Real Estate: This real estate group makes up a very large part of the multi-business conglomerate, the Shapoorji Pallonji Group, which has been around for well over a century. The real estate group specializes in commercial, residential and re-development. In commercial, the group is known for world-class IT workspaces in the Indian IT hotspots. In residential, the group is best known for Mumbai’s Imperial. The group is currently running projects in Bengaluru, Pune, Kolkata, Manesar, Nagpur and Mohali. And while Shapoorji Pallonji Real Estate has made a name for itself in the IT real estate world, it has also completed a long list of projects in other verticals and is committed to continuing this practice.
The real estate investment opportunities throughout the entirety of India abound. With so much buzz, potential and possibility, it is hard not to want to jump right in. But be careful. There are some risks involved in investing in this emerging economy. To make sure you and your money are safe, work with a trusted real estate advisor. Waugh Global is just that. This property platform is unique; they concentrate on accountability, transparency and quality when looking for potential developers to partner with. To speak to a trusted advisor about real estate investments for you, contact Waugh Global.