Bullseye!

It is not only Wimbledon; but the hot real estate space in London which is also attracting Indians. Especially, Indian developers´ interest in marquee London properties seems to be rising steadily. After Lodha Group´s Rs 3,000-crore acquisition in the foreign land, yet another Indian firm, Indiabulls Real Estate, bought an iconic building in London´s Mayfair for Rs 1,550 crore. Spearheaded by Sameer Gehlaut, Chairman, Indiabulls Group, the company has bought the 87,444-sq ft property from Scottish Widows Investment Partnership, which had put the property up for sale. The new owner plans to redevelop the property into a high-end residential tower. This marks the third-big ticket investment in London by an Indian firm. This is the first foray for Indiabulls into the international property market and the company under its Chairman´s guidance plans to steadily build a portfolio of projects in London.