Rich Indian parents buying property in London with eye on kid's schools

Indians have emerged as the fourth-largest group of overseas buyers of property in London

Rich Indian parents keen to educate their children at leading British schools have helped drive up overseas demand for homes in London, a high-end estate agent has found in its latest property analysis report.

Indians have emerged as the fourth-largest group of overseas buyers of property in London, after China, Russia and the US, which has led to 2 billion pounds of investment over the past year, Knight Frank notes in its 'Wealth Report' released this week.

"Education is an important demand source among Indians in the central London million-pound-plus market," said Liam Bailey, Knight Frank's head of research.

"The attraction for wealthy parents is to find good private schools in the UK, particularly London, which then provides a boarding option for parents who can visit over the holidays. Also, it is longer term investment, as a base for the student who may go on to university in the UK and explore future job prospects in the country," he explained.

The 'Wealth Report' also finds that the number of Indian "demi-billionaires", or those with a net worth of USD 500 million, is set to rise from 200 in 2017 to 340 in 2022, with demand for property in London expected to remain robust within this segment.

According to Bailey, the trend among buyers from India contrasts with that from Southeast Asian countries as Indians are open to both newer as well as more traditional developments to invest in.

While buyers from Singapore and Hong Kong tend to focus only on new-build properties, Indians are willing to invest in both new-build and more established homes in prime London areas of Mayfair and Chelsea.

"Among the younger Indian demographic, we are also seeing a trend of investing in the City (financial hub), east of London. The Indian demand is fairly broad," Bailey said.

Overall, Knight Frank's analysis found that the uncertainty engendered by the Brexit process of Britain's impending exit from the European Union (EU) next year does not appear to be having any significant "dampening effect" on the attraction of London's most expensive properties for local or global buyers. (more)

Modi in London: Khalistani elements tear Indian flag; Pak hits out at PM

The Karnataka Assembly polls also flavoured Modi's interaction at 'Bharat Ki Baat' when the prime minister highlighted the contributions of 12th-century Lingayat philosopher Basaveshwara

Prime Minister Narendra Modi today had a series of bilateral meetings including discussions with Seychelles President Danny Faure and his Mauritius counterpart Pravind Kumar Jugnauth on the sidelines of the multilateral Commonwealth Heads of Government Meeting (CHOGM). "Friend in an extended neighbourhood! PM @narendramodi and President of Seychelles, Danny Faure met on the sidelines of #CHOGM18 and discussed cooperation in areas of trade and investment and other bilateral issues," Ministry of External Affairs spokesperson Raveesh Kumar tweeted. The bilateral talks between Faure and Modi assumes significance after Seychelles ordered an inquiry into the leak of a highly classified agreement signed with India to develop infrastructure on Assumption Island, which lies southwest of the mainland of Mahe.

The opposition in Seychelles has decided not to ratify the pact because of Assumption's relative proximity to Aldabra atoll, a UNESCO World Heritage Site that is home to the world's largest population of giant tortoises. Cementing close friendship with Mauritius, Prime Minister Modi met his Mauritius counterpart Jugnauth and talked about cooperation in trade and investment, maritime cooperation and people-to-people ties, Kumar said. The "pull-aside meetings" with world leaders included an interaction with Ugandan President Yoweri Museveni, Gambian President Adama Barrow, Fiji Prime Minister Frank Bainimarama, St. Lucia Prime Minister Allen Chastanet and Prime Minister of Solomon Islands, Rick Houenipwela.

At the end of the retreat, Modi will head back to India after a brief stop for his meeting with German Chancellor Angela Merkel in Berlin.

Meanwhile, Pakistan on Thursday rejected Modi's remarks on the 'surgical strikes' across the Line of Control in 2016 as fake, saying "repeating a lie doesn't turn it into the truth." Speaking at the 'Bharat Ki Baat, Sabke Saath' programme in London yesterday, Modi had said India waited to inform Pakistan about the operation before disclosing it to the media and the people.

"I said before India gets to know, we should call Pakistan and tell them. We were calling them since 11 AM but they were scared to come on phone, at 12 we spoke to them and then told the Indian media," Modi had said.

Here are the top 10 developments around Prime Minister Narendra Modi's visit to London, 'Bharat Ki Baat, Sabke Saath' programme, and his itinerary for today: (more)

P V Sindhu to face Saina Nehwal in India Open quarterfinals

This will be 2nd time that they will compete at international level after 2014 Syed Modi Grand Prix

Rio Olympics silver-medallist PV Sindhu and ace badminton shuttler Saina Nehwal are all set to face each other in the quarter-final clash of the India Open World Super Series here at the Siri Fort Sports Complex later on Friday.

Sindhu booked her place in the last eight of the tournament after brushing aside Saena Kawakami of Japan 21-16, 23-21 in a thrilling second round clash that lasted 40 minutes.

Sixth-seed Saina, on the other hand, took just half an hour to outplay 19-year-old Pompawee Chochuwong of Thailand 21-14, 21-11 to storm into the quarter-finals.

This will be the second time that Saina and Sindhu would face each other at the international level. The duo last met during the final of the 2014 Syed Modi Grand Prix, where the London Olympics bronze-medallist prevailed in straight games.

In the men's singles event, Sameer Verma continued his good run of form as he registered a comfortable 21-17, 21-15 win over Yu Hu of Hong Kong to reach quarter-finals.

Also Read : Saina, Sindhu & Sameer reach quarterfinals at India Open

Photo Gallary : UK Parliament attack

UK Parliament attack : leaves 5 dead and 40 injured

The attacker was shot dead by police within the perimeter of UK Parliament

The attacker used a car to run down several pedestrians on the iconic Westminster Bridge.

At least one woman and one other person were killed by the vehicle and others were left with "catastrophic injuries,"

The lightning attack unfolded across Westminster Bridge in the shadow of Big Ben, a towering landmark that draws tourists by the millions and stands over Britain's Houses of Parliament -- the very image of London. See more photos Click Here

India enter Hockey Champions Trophy final for 1st time in 36 years

India enter Hockey Champions Trophy final for 1st time in 36 years

Indian men's hockey team had their date with history as they clinched a maiden appearance in the final of the prestigious 36th Hero Champions TrophyHockey tournament against formidable Australia after hosts Great Britainheld Belgium to 3-3 draw in a final round robin match.

This will be India's first appearance in the summit clash in 36 years since the inception of the blue-riband six-nation tournament.

India's only podium finish until now was a bronze medal won way back in 1982 at Amsterdam.

India would thank Great Britain, who rallied from a two goal deficit to hold Belgium 3-3 in a cliffhanger at the Lee Valley Hockey Centre late last evening. This was after India lost 2-4 to title favourites Australia in their last round robin encounter.

The draw between Great Britain and Belgium meant both of them finished behind India in the round-robin league, paving the way for India to play World champions Australia in the tonight's title encounter.

Australia topped the league standings with 13 points from five games, while India ended on seven points. Great Britain ended on six points and Belgium were left on four points.

Britain will feature in the bronze medal match with dethroned title holders Germany, who outplayed South Korea 7-0. This was Germany's biggest win over the Koreans in international matches. Belgium will take on South Korea in the play-off for the fifth position. Read More.