Dreaming about owning a home in Singapore? Get ready this weekend, as the largest developer from the island state comes calling.

Far East Organisation will showcase around 100 villas and 1,200 apartments, each priced between Rs 2.5 crore and Rs 15 crore, at a city hotel on February 23 and 24. The properties are in various stages of development; some are ready to be moved into.

The company is bringing only one table model, a residential condominium called VIDA, located in the affluent district of Cairnhill Rise.

“There is a lot of interest among Indian buyers, including from Calcutta, in Singapore properties. It is a vast market waiting to be explored,” said Far East executive director Chia Boon Kuah.

A survey by the company has revealed that a large number of Calcuttans send their children to Singapore for higher studies. The country also draws most of its spending from the city. “Hence, the interest,” explained an official.

Land Solutions India, the Delhi-based marketing partner of Far East, believes Calcutta’s proximity to Singapore is only adding to the interest.

“Moreover, investment is on the rise in the Calcutta realty market. Selling properties worth a few crores here is no longer difficult,” pointed out Akshay Jain, the chief executive officer of Land Solution.

But how does one buy a property in Singapore?

The Reserve Bank of India guideline caps an individual’s investment in a property abroad to $200,000 or Rs 80 lakh a year. For joint ownership, the limit rises proportionately. An Indian currency bank account is enough for the deal.

During the exhibition, one has to pay five per cent of the transaction value. The property papers will be processed in Singapore and the buyer will have to pay 25 per cent more in a month or two.

Far East will facilitate a bank loan for the rest of the amount at an interest rate prevailing in Singapore, which could be as low as 3.5 per cent.

In case of a ready property, the company will help the buyer lease it out immediately. It also promises to do the needful if the owner wants to sell the property in three-four years.

“No foreign company of the size and stature of Far East has ever come to Calcutta on such an exhibition-cum-sale mission,” said a market watcher.