NRI Real Estate and Property Investment in India
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NRI Plans Residential Complex in Hyderabad
Sunday, January 11, 2009

A big real estate melt down in India and USA notwithstanding, a Chicagoland businessman, Iftekhar Shareef , has decided to build a most modern multi million dollar value residential complex in Shamshadabad ( near Hyderabad) to enable NRIs re-establish their roots with the motherland .The Shamshadabad project being developed under the aegis of IGS inc, a company registered in Chicago as well as in Andhra Pradesh, will be under two to three phases. Its first phase construction will have 64 units of two and three bed-room luxurious flats to start with.

And they would be just three kms away from the newly built state of the art International Airport of Hyderabad.Shareef hails from Shamshadabad, which is now known as the International Village. His love of India and his native Hyderabad, he admits, has attracted him to invest in construction and other ventures in India. It also, he muses, brings him back to India more often to pursue his commercial activities. He is operating his diverse business activities under the umbrella of IGS Group, USA.The IGS plans to build over 500 units on this 40 acre site.

The complex will include apartments, hotel, commercial office center and many other amenities. He lays stress on environmental protection and indicated that all his real estate developments will have pollution free atmosphere. The prices are quite competitive and attractive for overseas investors. "They can bring in their hard earned money for relative safe investment in this project and reap handsome returns over a period of time," he said.

"The future of this project is good for investors who are looking to live there during their visit to Hyderabad and rent it out the other months. IGS will, upon request, maintain the units for absentee owners for a nominal charge," he added."Units are spacious with good views of salubrious surroundings as well as landings and take-offs of air-planes," Shareef said and added that all existing and future real estate developments will be ultramodern with an accent on western comforts and eastern life-styles. He proposes to bring state of the art designs and concepts for modern living. He said that India was ready to have these amenities and people are anxious to find them.

The first dual citizen of India, Shareef is a person of multi-dimensional character. His involvement, both in his native country and adopted country, is equal. "I keep perfect balance in my political and social affiliations both with India and US. Whether Congress or BJP, Communists or Socialists, I keep balanced relationship without any regard to race, religion, political persuasions.

"Iftekhar Shareef divides his time between India and the United States as he oversees many of his successful organizations, such as the National Bank Card Corporation, Secure Check USA, and Skin Care Systems specializing in anti-aging technology.

This entrepreneurial undertaking, he says, has the potential to go big in view of the recognition some of these cosmetology products received in US and India. His products are already marketed in 51 countries. Nine of his revolutionary products to create beautiful skin have been so successful that he admitted there were no complaints for the last six years.

However, his real estate project in Hyderabad, has become the center of his primary interest. He is upbeat about the potential of this project that he says is good for investors, who are looking to stay there during their visit to Hyderabad and rent it out during the other months.

He immigrated to US in 1980. By dint of hard work and innovative mind he has built a solid portfolio of highly successful companies under the IGS Group as founder and CEO. Married to Gazalla, he has four children, two boys, Azfar and Ashar and two girls, Iram and Simra. They live in Lincolnwood, a suburb of Chicago.


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