“Raw land is currently selling in Phoenix at $.10 to the dollar, down from 2006 values. Conversely, land in India is selling at five times the 2006 values. This is unbelievable!"
Phoenix, Arizona (PRWEB) April 25, 2013
Yash Verma, older brother of Vermaland, LLC.’s CEO, Kuldip Verma, is going to be in Phoenix over the next few weeks looking at potential real estate investment opportunities. His main focus will be in the west valley, where Vermaland currently has the majority of its holdings.
Yash Verma is the founder and former CEO of Beltek Electronics, one of the largest Television manufacturers in India. Beltek was founded in 1972 and rapidly became one of the largest consumer electronic companies in India, being the first company to launch color televisions in India. Yash also found C-Net Communication in 1994, which offers complete solutions to broadcasters for the “Pay TV Channels” in India. Currently, he is involved in a joint venture with PepsiCo for their bottled water business, being the one to introduce Aquafina to India. In 2012, Yash launched PepsiCo’s version of Vitamin Water under the name of Wild Water in India.
Kuldip Verma is the founder and CEO of Vermaland, LLC., which is a land banking/land development company based out of Phoenix. Vermaland has the largest holding of 50-1,200 acre parcels in metro Phoenix. Vermaland has been involved in the development of residential and solar projects throughout the west valley. Earlier this year, Vermaland set up a charitable foundation and donated $1.2 million worth of real estate and cash to benefit underprivileged students and to build a Yoga retreat center
Both brothers worked for their family business, Beltek Electronics, from 1985 to 1990. Kuldip started as a director at Beltek, under the guidance and tutelage of his older brother, Kuldip was able to take responsibilities of all the major departments within the company and became the managing director of Beltek. He was awarded the Udhyog Rattan Award in Electronics, which is the highest award presented by the Vice President of India.
“Yash Verma has always been my mentor and guided me through my various business endeavors,” says Kuldip Verma about his older brother. “The lessons he has taught me are invaluable and have been paramount to the success of Vermaland.”
Yash says the land market in Phoenix is very intriguing, in comparison to the land market in India. “Raw land is currently selling here at $.10 to the dollar, down from 2006 values. Conversely, land in India is selling at five times the 2006 values. $100 invested in Metro Phoenix in raw land shall be reduced to $10. While $100 invested in India in similar lands will be equal to $500. This is unbelievable!”
According to Kuldip, the number of homes listed in the Phoenix market has come down from 56,000 in 2008 to 17,000 in 2013. There were roughly 17,000 homes on the market in 2004, right before the huge price increases of 2005 and 2006. Last month the median price for a single-family home in Phoenix jumped 4%, which is a huge jump. “I anticipate similar price jumps in the next few months because of the lack of supply,” says Verma.
According to Collier's international, Phoenix-area land acquisitions are up 59% year over year because of rebounding home prices and low inventory of existing homes in the first half of 2012. The valley's land acquisition activity in the first half of 2012 had a median price surge up 80%
compared with last year. Nearly 70% of land sold in 2012 is slated for residential development, significantly up from 55% three years ago.
According to Kuldip, he started seeing movement in the land market approximately six months ago. Over the last three months, the activity has greatly escalated. “If I was to time the market, 2011 was the perfect time to purchase a house, 2012 was the perfect time to purchase a finished lot, and 2013 is the perfect time to purchase raw land. Only 17% of land in Phoenix is private land, therefore home builders are limited in terms of suitable land for residential development.
Kuldip has set up several meetings with brokers for Yash to look at the properties in the west valley over the next 2 weeks. If you have land available for sale over 100 acres, please contact Vermaland through their website, http://www.vermaland.com.
Vermaland LLC is a land banking, land development, land marketing company based in Phoenix. Arizona. The company was founded in 2001 as a whole sale buyer and seller of land offering land for residential, commercial, agricultural, industrial, solar and other renewable projects. For additional information on Vermaland, visit http://www.Vermaland.com.