Sahara India Pariwar, the conglomerate run by Indian billionaire Subrata Roy, is all set to buy the landmark Grosvenor House hotel in central London, which was once home to the Duke of Westminster. Royal Bank of Scotland, which took control of the property in 2001 when it paid 1.2 billion pounds for 12 Le Meridien hotels as part of a sale- and-leaseback deal, has agreed to sell Grosvenor House Hotel to Subrata Roy for a knock-down price.

With Indian real estate prices in the niche segment in India showing signs of robust recovery, high net worth Indians and NRIs are again eyeing foreign shores for real estate investments reports the Economic Times. Many are now turning to invest in UK property and other markets. (more…)