Monday, September 24, 2007

The American Suburb comes to India

Ever heard how almost every American suburb looks the same, cookie cutter homes assembled neatly along linear roads leading to the premier housing at the cul-de-sac. Well, it seems India is destined for such homogeneity too with several town ships being built outside city centers.

Chennai based Shriram properties is partnering with U.S. real estate private-equity firms Walton Street Capital and Starwood Capital Group to develop a $1.25 billion township outside of Kolkata. (Source: Forbes - Market Scan)

While the size of the investment is garnering more attention than usual, there are already other American real estate equity firms investing in the booming real estate market. Although the townships might rob India of its unique building style and character it will provide for more attractive housing for the middle class and new rich.

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