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India set for overseas investment boom

Thursday, 22 November 2007 12:00 AM

India is emerging as a potential overseas property investment destination for Brits looking to avoid the slowing market at home.

Several of the country's key indicators are proving to be very attractive for investors, according to property experts at HomesGoFast.com.

"India offers that [excitement]; it's new, exciting, low price, and has great potential for capital growth," said Nicholas Marr, chief executive office, HomesGoFast.

"It's appealing because it is low price; you can get a townhouse or apartment in Goa for £9,000. A lot of investors actually originate from Asia and are British-based Asian investors. It's very attractive to those business people."

Investors are growing increasingly adventurous in their property acquisitions, according to HomesGoFast, and this has led to an increase in interest in the subcontinent.

"There has been an increase in people considering it [India] now," continued Mr Marr.

"People are prepared to go anywhere, and India is not that far off of the beaten track. People are sometimes concerned with due diligence; is it safe to invest etc and [this] is what is stopping people."

Confidence in the market is proving to be essential.

"But I think next year, when people see more activity and more becomes available there they will get more confidence," explained Mr Marr.

"Confidence has been growing in India; all the big business are looking at India now. They know that if you can get in there you have a big potential market."

Choosing where to invest is key to success, according to HomesGoFast.

"There are special areas in India that are ideal for investment - Rudrapur is one," Mr Marr added.

"It is called a special economic zone and it has been earmarked by the government for investment; consequently it is a very attractive place. There will be a lot of employment opportunities there. It's one of the hottest areas for investors to go to."

Prices for two-bedroom properties in the area cost as little as £23,000, offering large returns to investors.

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