Real estate FDI inflow up nearly five-fold
Source: The Hindu Business Line New Delhi, June 24 The Indian real estate and housing space emerged as the darling of foreign investors in 2007-08, clinching FDI equity inflows of about Rs 8,749 crore, a near five-fold increase over FY07. "The investors have seen that the real estate potential in India is huge. The returns are quite attractive. In fact, we see the trend picking up even further this year as the prices are getting more attractive for investors," Mr Ra-mesh Sanka, Chief Financial Officer at DLF said. Late last year, DLF Ltd had sold 49 per cent stake in eight residential project SPVs to private equity investors for a total consideration of Rs 1,675 crore. A Merrill Lynch & Co entity had bought 49 per cent equity in seven residential projects in Chennai, Bangalore, Kochi and Indore for Rs 1,481 crore. The company headed by Mr K.P. Singh - has also diluted 49 per cent stake, in another middle-income housing project in Panchkula, Haryana, to Brahma Investments