‘Current real estate prices are unsustainable’
Trikona Capital, currently the single largest real estate fund dedicated to India, is planning to invest $10 billion in real estate and infrastructure sector over the next 10 years. Trikona has earlier raised close to $500 million in UK and has commitments worth $1.5 billion in over 14 projects in the country.
Aashish Kalra, managing director and co-founder of Trikona Capital, spoke to Tinesh Bhasin on the real estate industry and how the fund plans to invest in the current scenario.
Give us your views on Reserve Bank of India’s move to curb Foreign Direct Investment (FDI) in real estate.
We need FDI to increase supply of real estate properties. Debt has become expensive as interest costs have gone up. Real estate business in the country is at nascent stage. The sector has just started witnessing institutional investments and old monopolies are breaking down as companies are selling shares to public. Transparency is seeping in. We need foreign institutional money to help the sector reach maturity.