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London's Berkeley group woos Indian for housing project

Last Updated: Thursday, September 6, 2012 - 22:33

New Delhi: London's leading real estate firm Berkeley group is wooing Indian investors to buy homes in its luxury housing project adjacent to iconic 'Tower Bridge' on the banks of river Thames.

The top management of Berkeley Homes, part of the group, is currently in the national capital to showcase its project to home buyers and investors in India. According to Knight Frank, 3.6 percent of Indian invest in prime central London.

Berkeley Homes is developing about 400 units in this project 'One Tower Bridge' located on the river Thames between Tower Bridge and City hall on the south bank.

"We have come here in India for the first time to promote our products. We are meeting people since yesterday and we have got a good response," Berkeley Homes Managing Director Piers Clanford told reporters here.

"Prices starts from about 9,00,000 pounds and goes up to 20 million pounds," he said.

The total investment on this project, to be completed by 2016, would be 350 million pounds, Clanford said.

Property consultant Knight Frank is helping Berkeley group, which is listed on London Stock Exchange with a market cap of 1.6 billion pounds, in selling this project.

"We expect as much as 10 percent of sales from Indian, which includes those who are already living in London," Knight Frank Partner (Residential Investment and International Project marketing) Sebastian Warner said.

On the London property market, he said, "it is a safe and secured market. Titles are clear".

Warner said property market is picking up in London and expects housing prices to rise by 20 percent in the next four years.


First Published: Thursday, September 6, 2012 - 22:33
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