New Hotels in India Fuel Demand for New Homes

New Hotels in India Fuel Demand for New Homes

The demand from overseas investors for residential property in Amritsar, Punjab, India, will be positively affected by an influx of major hotel groups into the city, according to Amar Sodhi, Chairman of leading overseas Estate Agent, Avatar International, a pioneer of the buy to let property market in India. Radisson SAS Hotels and Resorts, Hampshire Hotels and Resorts and Sarovar Hotels and Resorts are planning to open 5 star hotels in Amritsar, highlighting the city’s growing status.

Amar comments: “India’s growing prominence as a major player in the world economy is having far reaching effects across the country and cities such as Amritsar are booming on the back of it, with increasing numbers of multi-national companies opening major offices there. Several leading hotel groups are opening luxury hotels in the city, fuelled by the huge demand for western-style accommodation to house the increasing numbers of middle-class Indians and foreign tourists who are visiting the city.

“Although standards of hotel accommodation in Amritsar are poor, occupancy rates are high as there is currently no better alternative. Consequently the market for buy to let apartments is really starting to take off, as non-resident Indians and persons of Indian origins that are eligible to buy property in India realise that there is a large pool of potential residents to tap into.”

Avatar International is currently marketing Collage Windsor apartments in Amritsar. The developer is currently offering a year end discount of 5% for all apartments reserved before 5th April 2008. The self-contained, gated township is fully managed and isthe first development of its kind and standard in the city. Comprising 256 high specification two, three and four bedroom apartments, duplexes, penthouses and condominiums, the development is located in one of the most exclusive areas of Amritsar, opposite the first 5 star hotel in the Punjab. Raja Sansi airport is just 3km away and the Golden Temple is just 7km away. Direct flights to London from Raja Sansi take approximately 8.5 hours.

Collage Windsor Apartments are due to complete in 2009. Prices for current availability start from £42,490 for a two bedroom apartment, from £50,828 for a three bedroom apartment, from £81,472 for a duplex apartment and from £98,185 for a four bedroom penthouse. For further information, please contact Avatar International on telephone: 0800 035 3537 or visit: www.avatar-investments.co.uk

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