The Trump Empire launching in India
The family of the USA's President, Donald Trump is expanding it’s Trump Empire by launching a pair of real estate projects in India. The Trump organization is very bullish as far as Indian real estate market is concerned and is very optimistic in approach to establish itself in Indian real estate market by providing luxury projects to the affluent Indian class.
These two new project launching had caused some murmurs in the political arena in the USA and as well in India, as the Trump Organization had previously said that no new foreign agreement would be signed while the president remains in office.
However, the Trump organization had launched two residential property projects in India, despite concerns over the president's potential conflicts of interest with foreign governments. The developments are the evidence that the Trump Organization's promise does not specifically extend to the projects that were signed or initiated before Mr Trump took office as President of USA.
Real Estate Projects in India
The Trump organizational team has made strong inquires about the existing projects and seems to be incredibly happy with the reports generated even before the launch of the new projects. It is said that the new projects - Kolkatta and Gurgaon projects, were inked before Mr Donald Trump became president of USA.
The two projects, one as the new Trump-branded tower in the eastern city of Kolkatta will cost $ 765,000 or less and the other project in the suburban capital of Gurgaon will have $ 1.8 million apartment cost and access to golf courses. The capital investment in these two projects is much over the existing three projects in cities - Mumbai, Pune and a proposed office in Gurgaon.
The Mumbai project is a 75-storey tower, going to have a shimmering gold facade and two residential towers in Pune. The new project in Gurugram, likely to be called Trump Towers, will be jointly developed by M3M India and the Trump Organization. The project will be a super-premium, ultra-luxurious project.
Real Estate Market Insight
Real estate property analysts and experts are scratching their head and speculating the success of these luxury projects, as the market of real estate in luxury property segment is very sluggish. Their views are that the prices of these properties in last four years had not increased, the stock has grown and the sales have been really bad. They sight that there is a big difference between prevailing prices and what buyers can afford practically.
By analysis reports, till November this year, alone Kolkata had about 428 unsold units in the price range of $ 460,000 to $ 1.5 million, which is a three-year stock delay, while Mumbai had 17,478 unsold units, a six-year delay.
The property market experts view that the Trump brand properties have faced slow sales in the market because of higher cost almost 30% higher than the neighbouring real estate projects. Some experts have different view that whether Trump will attract Indian market or not after the period of immigration and other controversies surrounding the Trump policies. It is also viewed that the projects supported by well-known stars and sportsmen do not always work in favour of the builders. Affordability – always remains the main factor in reaping profit in the real estate projects.