The golden period for Indian real estate has begun with the RERA, demonetisation, black money Act, Money Laundering Act, Benami Transactions Prohibition Act and the result of US Presidential elections. All these forces coupled together are all set to cleanse the Indian realty off black money, high rates and low investments. The demonetisation effects have been talked about a lot in our previous articles. This article talks about what the new US President, Mr. Donald J. Trump has in store for Indian Realty. Indian real estate sector is linked with the Trump’s victory because he is an American real estate tycoon first and the president later.
Existing Projects of TheTrump Organization:
The real estate businessman turned US President, Donald Trump is expected to bring good fortunes to Indian real estate. The Trump Organization, owned by Mr. Donald J Trump, is a New York based conglomerate which is engaged in real estate. The company’s Indian representative is Tribeca Developers which already has two successful luxury projects in Mumbai and Pune. A 46 apartment Twin Tower with Panchshil realty in Pune and an under construction 300 apartment with Lodha Group in Pune are the two big luxury projects according to Donald Trump Jr. Pune’s Panchshil realty and Mumbai’s Lodha Group received a premium of 30% and 35% respectively for the execution of projects. Apart from these, they have three more projects in India. The development value of all these five projects is $1.5 bn.
Mr. Donald Trump, post the election of Mr. Narendra Modi in 2014 had praised India and revealed his investment plans in India. He also said that money will pour in India and the perception in India is changing and the optimism is returning. When Indian market was stressing on the Mumbai property prices to cool down, Trump said that the prices in Mumbai were unbelievably low, which meant that there is a huge growth potential in the market.
The Trump Organization would be launching three new projects in India in 2017. The group has already tied up with property developers Ireo and M3M Group for an office complex and a residential project respectively that will be executed in Gurgaon. Donald Trump Jr. stated, "I look forward to being back in India soon to celebrate not only the milestones of our existing great developments but also for the announcement of several exciting new projects". The American Group is now targeting Mumbai, Pune, National Capital Region, Bengaluru, Hyderabad and Goa because of high demand for luxury real estate project at these places. Apart from residential projects, they are also planning to come up with hospitality, golf course and casino projects. Tribeca Developers, the Indian arm of The Trump Organization, has many projects in pipeline for North and East India and is also looking for opportunities in the South. Kalpesh Mehta, managing partner at Tribeca Developers said, we are working towards making India the largest revenue generating market for Trump after North America over the next 10 years"
It can thus be said that Donald Trump, the owner of the World’s largest real estate brand, The Trump Organization, was already keen to invest in India and is happy with the business his ongoing projects have been doing in India. Now that he has increased power reserve, being the US President, the Indian real estate can definitely expect a lot of money by way of numerous real estate projects that The Trump Organization has planned.