Realogics Sotheby’s International Realty Brokers Enjoy Preferred Access to Investment Opportunities in Chennai India; Explore Trends
On May 9th, RSIR brokers and their invited guests reveled over the proposed plans for an ultra-luxury development in Chennai, India that is being represented by North India Sotheby’s International Realty (NISIR) and being promoted to Non-Resident Indian’s (NRI’s) in the United States. NISIR Principals Ashwin Chadha and Ankit Tyagi, personally escorted their development clients from the development team who are touring multiple US markets and debut the much-anticipated development in the Seattle area.
“The Seattle metro area is an important target market for our projects in India and our friends at Realogics Sotheby’s International Realty are always quick to host,” said Chadha. “We look forward to returning the favor when RSIR brokers are able to visit us in India with their clients.”
Chadha and Tyagi gave RSIR brokers an exclusive presentation on Express Exclusive, a 5 tower luxury condominium project designed by renowned DP Associates of Singapore that is spread across 5 lush acres with sea views from the higher floors. Not only do the buildings themselves offer stellar amenities and concierge service, the project overlooks the scenic Mount Road and offers close proximity to Express Avenue, a premier shopping mall.
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RSIR brokers were excited to learn that India is projected to exceed China in terms of Gross Domestic Product growth in the coming years and will eventually Indians will outstrip Chinese in terms of total population. The rapid growth of India has also created significant wealth and a rising real estate market, which Chadha and others believe presents an excellent investment opportunity.
“India remains a very critical market to us in the Pacific Northwest and visa-versa,” said Dean Jones, President and CEO of RSIR. “We look forward to growing our relationship with North India Sotheby’s International Realty and playing our role as a primary trade partner. After all, international is our middle name.”
Jones was instrumental in cultivating his Asia Services Group, which consists of a specialized collective of brokers who are fluent in the language and logistics of working with foreign nationals in Asia. While inbound Chinese homebuyers have been a substantial majority of the business practice, local NRI’s present an equally substantial opportunity overseas with home sales in India.
The trend stems from many NRI’s that have placed roots in the Pacific Northwest, especially in the international Eastside markets of Bellevue, Kirkland and Redmond that have some of the highest populations in the region. Many immigrated to the US to attend school or join high-tech firms, and remained in the area but desire to invest back home. Additionally, Indian culture is very family oriented and numerous generations often prefer to live together. As an alternative, local NRI’s will typically purchase property in India for their family enjoying their global citizenship between the two countries with homes in both markets. The Express Exclusive development is precisely the type of property that would be attractive in such a scenario given local buyers are able to purchase in presale and the homes are being built by such a trusted development team.
“Our brokers will be able to make meaningful referrals to our affiliates in India, who will enjoy first-class representation while exploring their opportunities aboard,” adds Jones. “Whether our clients are searching for a home around the corner or around the world, we’re here to help.”
This is the third visit from members of North India Sotheby’s International Realty to the Pacific Northwest. In previous trips, NISIR introduced Antara Senior Living, a Luxury Community and toured the Seattle/Bellevue metro area with a collective of RSIR executives and brokers.