The Rise of a New Indian Elite of Investors

Indian wealthy investors are steadily buying top-end residential property in London’s most exclusive neighborhoods. Billionaire Cyrus Vandrevala, an equity investor, was one of only two people to buy a £10m-plus London property in December last year as the recession hurt ultra-high net worth buyers.

A surging stock market has doubled the number of billionaires in India in the past year. Among those with reason to cheer was Cyrus Vandrevala, the equity investor responsible among others, for the rise of the housing market in England. The recovery in the housing market has been revealed in a series of surveys in recent months, including the Nationwide building society's index which is based on mortgage data.