Singapore realtor forays into India home segment

The home segment space in the city continues to hold promise for new players, as indicated by the entry of Singapore-based realty firm Raffles Residency entering India with its first India project, in Bangalore.

The Rs 365-crore, 15-acre land, luxury home project “Raffles Park” comprising 61 villas and slated to be completed by 2015 was announced on Tuesday by the the joint promoter of Raffles Residency, Iqbal Jumabhoy.

“We are confident of strong interest among buyers, especially non-resident Indians (NRIs) and IT professionals,” he said.

A report released recently by real estate consultancy firm Knight Frank said that the Bangalore market grew 22 per cent during the period January to June 2013 compared to the same period last year, apart from attracting fair amount of private equity investment.

Besides, the report said that price appreciation of around 8 to 13 per cent during April to June 2013 augurs well from an investment perspective.