NRI helps revitalize the Indian property market

Q: I heard that NRIs in UAE are targeting by luxury Indian project. Any comment on this?

Manjunath, Bangalore

2nd June 2014

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In addition to it, the rupee’s plunge to steep lows in the last summer propelled a number of expats to feel optimistic about the Indian property market, taking advantage of its currency weakness. Furthermore, on account of the general slowdown, developers were offering discounts to seal as many deals as possible, hence a number of NRIs got properties about 25-30 percent cheaper than the normal rates.

Balaji, Bangalore

3rd June 2014

Comment

Hi Guys!! Non-resident Indians account for no less than 15-30 percent of sales in the Indian property market. Given the proximity of the UAE market to India, the largest number of NRI customers investing in India are from UAE.

Kanthi Sridhar, Bangalore

2nd June 2014

Comment

Which are the cities emerged as the foremost city for property investments by Non-Resident Indians from the UAE?

Manjunath, Bangalore

2nd June 2014

Comment

Taking the top slot, Mumbai has emerged as the foremost city for property investments by Non-Resident Indians from the UAE, at 31.86 percent. Followed by Bangalore that came second at 24.35 percent.

Sachin bhatt, Bangalore

2nd June 2014

I agree with you @ Sachin, Pune and Chennai together took the third place with nearly same number of buyers and investors, preferring in these cities. Delhi took the fourth place, followed by Navi Mumbai, Cochin, Hyderabad and Gurgaon. As per the key developers in the country, more than 31 per cent NRIs are looking for properties in the price range of Rs7.6 million while 52.57 per cent are looking at the price range of Rs 2.6-Rs7.5 million.

Kaushik Bardia,

2nd June 2014

Bangalore’s real estate market has bucked the trend in other metro with good demand, increase in the number of new launches and resilient prices.

Balaji, Bangalore

2nd June 2014

its actually a good prospect for our economy in someway

Sankalp sharma,

2nd June 2014

Comment

As per market reports, Indian expats in the UAE fix upon buying properties in their home country, since most of them are likely to return to India and many cannot cut out for their citizenship.

Balaji, Bangalore

2nd June 2014

Comment

For developers and builders in India, who are coming up with new homes in the country where the economic growth has been hit and inflation along with interest rates are high, the expat community comes as a rescue. Eyed as a hedge to domestic investment, the expat community is crucial for the Indian developers to keep going. Given the market reports, 67% of such buyers are in the age groups 36-50 years.

Sachin bhatt, Bangalore

2nd June 2014