August 24, 2007

Indian property builders targeting NRIs

Imagine this, you are thousands of miles away from India. But with just a click of the button on your computer, you can own a property in a posh neighborhood in an Indian city at a reasonable price without ever stepping foot on the property. Well, you don’t have to imagine it anymore, thanks to KRC Horizon Real Estate.

The company specializes not only in providing residential real estate for Indians living outside of India, but also, in building a platform for international investors and property developers to come together. Just this past weekend, KR Capital Management, LLC (USA) and the company owned subsidiary KR RealTech Consultants PVT LTD (India), along with its Media Partner India Post, held its 2nd Horizon Real Estate Expo of the year in Los Angeles.

"The turn-out during our April Expo was pretty good; that encouraged us to have another expo in California," mentioned Honey Manchanda the Event Organizer, and wife of Pankaj Manchanda, the CEO of KR Capital Management, LLC. Together the husband and wife team brought builders and loan-providing banks to the Indian-Americans to allow them to gain more information about investment opportunities in India.

"It is a buyer’s market in India right now," stated Pankaj Manchanda, "the interest rates are so high that the local population refuses to buy, forcing the property owners to sell at a price demanded by the buyer." Although many predict that the Indian Real Estate market is going through a bubble waiting to burst, bringing the prices to rock-bottom, Manchanda believes it would be quite the contrary. "In a few months, banks will be lowering their interest rates.

The second the interest rate goes down by even a point, real estate will be selling by the seller’s price." Some of the most prominent property builders of India such as Hiranandani and Parsvnath were at hand, explaining the ins-and-outs of the property. Although, most of the builders were offering properties especially for the Non-Resident Indians (NRIs), most of the projects they had at hand were nearly sold out. ICICI bank’s Uma Shankar was also at the Expo describing the entire process of how easy it is for an NRI to own a property in India.

"In the past, owning a home in India was quite difficult, plus, it was a lengthy process. But now, an NRI with an income of US $30,000 or more can own a home with a simple application form," explained Shankar. KR Capital Management LLC is committed to providing a safe and comfortable environment for the buyers, "our goal is to bring the buyers directly to the developers and builders, eliminating the 3rd party in between which could be a cause for hesitation for many buyers," said Manchanda.

The next event KR Capital Management LLC holds will be an exclusive event. The parties who expressed serious interest in purchasing properties in India will be invited to have an in-depth conversation with the builders and developers. For more information about the Expo, you may visit the website at