North India Sotheby’s International Realty to Present Real Estate Trends & Opportunities for Non-Resident Indians in India with a Special Focus on an Exclusive Residential Development in Chennai
Join executives from North India Sotheby’s International Realty on for an open house event and an interactive presentation on the economic growth in India and an insightful comparison to China – the two largest Asian economies influencing the Pacific Northwest.
May 9th 2016 | 6-8pm (7pm Interactive Presentation)
Maison DeLille Wine Lounge | 15 Lake Street, Kirkland, WA
Seating is limited. Please RSVP to or call 425.658.5300.
According to 2010 Census figures, more than 36,000 non-resident Indians (NRIs) reside in the greater Seattle area with nearly half the population in Bellevue and Redmond alone. NRIs are the second largest Asian group (close to 3 million) in the US with an annual buying power of at $25 Billion. One in every nine Indians in the US is a millionaire, comprising 10% of US millionaires.
The IMF’s latest World Economic Outlook (WEO) report projected that India will grow at a rate of 7.5% in 2016-17 from 7.2% in 2015 while China’s economic growth will further drop to 6.3% in 2016-17 from 6.8% in 2015. The IMF projects that by 2040 the population of India will exceed that of China. Likewise, the number of billionaires in India is also estimated to grow at 100 percent by 2023, superseding China’s 80 percent, according to real estate consultancy firm Knight Frank’s Global Wealth Report 2014. Experts are tracking remittances from India that are nearly doubling annually as much like China, foreign wealth is seeking diversification in the US but unlike China, there are fewer regulations for outbound investments from India.
Many Indians are found within the high-tech industry. One-third of the engineers in Silicon Valley are of Indian descent, while 7% of valley high-tech firms are led by Indian CEOs. Top Indian CEO’s in US: Sundar Pichai- Google, Satya Nadella – Microsoft, Indra Nooyi – PepsiCo, Ajay Banga – MasterCard, Anshuman Jain – Deutsche Bank, Vikram Pandit – Ex Citi Banker, Portman Square capital, Sanjay Jha – Global Foundries to name a few.
“There’s no doubt that India is the next frontier for our Asia Services Group at Realogics Sotheby’s International Realty,” said Dean Jones, President & CEO. “We are thrilled to welcome back our affiliates from North India Sotheby’s International Realty as well as members of their delegation as we compare trends for inbound and outbound investment between India and the US and explore the many influences that we’ll experience in the years to come.”
Among the trends are local NRIs that are investing back in India. As a demonstration, Ashwin Chadha, Founder of North India Sotheby’s International Realty, and Ankit Tyagi, COO of North India Sotheby’s International Realty, will present Express Exclusive, an extraordinary new residential community in Chennai, South India that will target NRIs in the US. Designed by Singapore-based DP Associates, the five towers will span over five acres with 153 limited edition luxury residences ranging from three to five bedrooms and 3,000 to more than 6,500 sq. ft. and will be offered from $1 million (USD).
“Global citizenship is on the rise as many of our clients will take residence in both the US and India,” said Chadha. “We are excited to begin our international roadshow in the Pacific Northwest where there are already many networks connecting our two nations. These associations will be even more important in the future as India is projected to supersede China in economic growth and population in the years to come and the NRI influence in the region will only grow with these trends.”
Chadha notes an increase in full circle investments where NRIs that are experiencing the Indian version of the American Dream in the US are now securing properties in India for their family with plans to live in both homes as a global citizen.