New York-based Trump Organisation has plans for India - big, big plans. On the one hand, US-based billionaire Donald Trump is wooing potential buyers from India for his 45-storey Trump International building coming up in Manhattan and on the other, Trump Jr is setting up a $1bn (£500.5m) fund to buy property in India.
Astute property investors are hedging their bets on the likely outcome of this sudden rush in Indian property investments and developments. It could all come crashing down like many other property markets or it could see an influx of foreign property investors.
The Indian property market is growing year-on-year, mainly because of the growth in the middle classes. However, the developments that will potenitally be on offer by the likes of the Trumps are high-end therefore not affordable by the middle classes.
Driving through the different towns in India, it's not unusual to see abandoned half-built developments. Once promising, these high-end property developments now lie barren due to investor pull-outs, untrustworthy suppliers and most of all, lack of interest from the Indian buyers. There is a definite over supply of properties in many parts of the country yet a rosy picture is being painted for foreign investors.
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