Indian realty attracts NRIs
Mumbai: In accordance with city based real estate consultants, as a follow-up to the recent rupee depreciation, Non-Resident Indians (NRIs) from around the world have manifested interest to invest within the Indian real estate sector.Due to the depreciating value of the rupee, the dollar has been appreciating against the rupee which has lead to a significant rise within the generating of demand as well as the interest amongst the NRIs based out of UK as well as elsewhere to invest within the Indian real estate market.
NRIs desire to possess have their own residence within the country as they envision a great opportunity for investment within real estate now. Numerous developers have been reporting that they have been receiving positive responses from NRIs from U.A.E, Hong Kong, Dubai, Singapore and the US, in addition to the UK.
As per recent findings:
Around ninety per cent of NRIs living in the UAE have been increasingly seeking to invest within real estate in India. Roughly 26.7 per cent of the NRI population prefer purchasing properties as an added investment within India. For NRIs across the globe, investing within the property market is rated in the top among other options as the safest investment options. Indian real estate provides these NRIs the opportunity to receive high returns within the span of 4 to 5 years.
Top favored options:
Bangalore, Delhi and Mumbai are among the top favored options. NRIs hanker the most after these cities as they guarantee good returns on their investment. As the value of rupee drops, payouts on home loans too get cheaper when compared to the previous year.
For the expat Indians:
Investing within real estate in the home country means more than a good investment option. It means asset creation for them. They look for good track record, quality and possible price appreciation in future while going for properties in India. Good brand name adds value to their investment.
Tier II and III cities:
The NRIs are also interested in investing in tier II and tier III cities as well as these cities offer chances of price appreciation at a faster rate due to the infrastructural development taking place. While going for tier II or tier III cities, much locations play a greater part as locations determine as to what extent prices would appreciate.
As per analysts:
However, real estate analysts have predicted that there is no need to worry about the bubble burst and that real estate still remains a safe bet for investing your precious wealth. As per study conducted by renowned realty advisory firms, the real estate investors can expect a possible return on investments ranging between 18.6 percent and 29 percent per annum over the next five years.
Indian real estate sector has been much speculated upon after reports of high number of unsold housing units in realty hubs like Mumbai. However, realty experts believe that despite the slump in the real estate market, Mumbai will continue to be the most promising investment destination followed by Delhi-NCR, Chennai, Pune and Bangalore.
