Some people wonder why hotels in Indian cities are so expensive, even by international standards. Well, here is a news announcement about a recent real estate deal outside of Mumbai: the winning bid in an auction of some undeveloped land was US$100 million per acre. You'll find the article here.
Just so you know, the terms "lakh" and "crore" are commonly used in India. Expect to hear these terms during presentations. 1 lakh = 100,000 and 1 crore = 10 million.
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The buyers were quoted as expecting a profit margin of about 10-15%. ‘‘We already have committed clients including multinationals and diamond merchants, who missed the bus in booking space in the upcoming Bharat Diamond Bourse in BKC. We will sell the building outright once its constructed..."
It would be interesting to compare how they finance these commercial transactions in India versus a similar transaction in the US. The details of the transaction are lacking in the article.
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