Amar Sodhi, Chairman of pioneering overseas estate agents, Avatar International, comments: “The property market in India represents an exciting opportunity for Non-Resident Indians and Persons of Indian Origin but deciding where is best to invest can be daunting as India is such a large country. Many buyers look to coastal towns such as Goa, where they can have a holiday home that will also generate some rental income. However, for those looking for a purely buy-to-let investment, undoubtedly one of the prime locations for investment is the city of Amritsar in Punjab.
“Punjab is the best performing Indian state in terms of economy, with the highest income per capita. DLF, one of India’s biggest developers, are, jointly with the India Government, investing over $197 million to develop the infrastructure in Amritsar which will boost the already buoyant financial centre. Increased foreign and local business investment and high levels of religious tourism are supporting the strengthened economy and the resultant influx of business executives looking for affordable, high specification homes in Amritsar is fuelling the beginnings of a property boom.
“There is currently a limited supply of suitable housing for these workers on the rental market in Amritsar, and business executives are having to resort to staying in local hotels with basic facilities. The unfulfilled high demand for quality properties means that buy-to-let investors, who do their research and put their money in to the right scheme, should have little trouble leasing their properties and could potentially see high returns on their investments.”
Avatar International has just launched Collage Windsor Apartments in Amritsar, Punjab. Launched off-plan, the exclusive self-contained, gated residential community is fully managed and is the first development of its kind and standard in Amritsar. The development comprises 236 modern, high specification two and three bedroom apartments, duplexes, penthouses and condominiums.
All apartments have contemporary, light-filled, open plan interiors and balconies, and some even have roof terraces. The apartments are located within landscaped grounds with an on site wellness centre, the Windsor Club, which includes a swimming pool, tennis courts, a spa and Jacuzzis. There is also a medical centre, a school, a crèche and a children’s play area. Adjoining the complex is an 800,000 sq ft shopping mall with leading international brands including Levi’s, Benetton and adidas, a multiplex cinema, foodcourt, a spa and fitness facilities. The apartments range from 1,216 sq ft to 2,842 sq ft and include fitted kitchens with granite worktops, fitted bathrooms, secure parking and club membership.
Collage Windsor Apartments are located in one of the most exclusive areas of Amritsar, with a 5 star Radisson hotel opening opposite the development and a 5 star Taj hotel opening next door. Raja Sansi airport is just 3km away and the Golden Temple is 7km from the apartments. Direct flights to London from Raja Sansi take approximately 8.5 hours.
Collage Windsor Apartments are due to complete in 2009. Current prices range from £39,800 for a two bedroom apartment to £48,450 for a three bedroom apartment. For further information, please contact Avatar International on telephone: 0800 035 3537 or visit: www.avatar-investments.co.uk