Their is no shortage of fund to pump the Real Estate bubble in India even after the sub-prime mortgage crisis. Citigroup's Real Estate arm has confirmed investment ot $250 Million to Bangalore / Bengalooru based Developer, Nitesh Estates. Citi will get a stake in SPV floated by Nitesh Shetty to develop Luxury Hotels and Shopping Malls.
PE giant, Carlyle group is in advanced stages of negotiations to invest in Indian Real Estate companies. Carlyle is looking to BUY minority stakes in number of ventures. Carleyle's biggest investment so far in India has been in HDFC - $650 Million.
Kotak Realty Fund has picked up 11.5% stake in Pride Hotels. Pride Hotels is developing 5 star hotels in Mumbai, Goa and Hyderabad.
Our internal research team after taking to various industry sources, suggest that the Indian Real Estate market is currently $12 Billion and is expected to be $90 Billion by 2015. Part of this will also come because of the depreciating USD. Foreign Funds are willing to commit $30 Billion for Indian Real Estate.
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