Why is Indian Real Estate an attractive investment option for NRI?
Reports say that Non-resident Indians (NRIs) have begun looking for properties in India. The real estate sector in India witnessed this high interest from the NRIs after demonetization and enactment of RERA came into the picture.
This made the NRIs take a step back in investing in the real estate market in India, irrespective of the hope for lucrative returns due to lack of safety issues, transparency, and fears of high sale propositions.
But the trend is changing now. The implementation of RERA has highly impacted the Indian real estate industry for the good. This has shaped and evolved the market in a positive way.
Rupee against dollar seems to be weakening which on the other hand has increased the investment opportunities in India. India is considered to be one of the strongest markets for overseas investment.
According to reports, close to 30% of NRIs are looking for opportunities to invest in India and the number seems to only increase every year.
However, there are also some other factors that are attracting more and more NRIs to invest in the Indian real estate.
NRIs will have the power to use their additional income and invest them in properties because of the correction in property prices over the past years.
When it comes to choosing the location, it is not only the metro cities or the tier-I cities that are having the power of investment, but the tier-II and tier-III cities are nowhere behind and giving a tough competition to the big ones.
NRIs from the Middle East, Dubai, and the United States are showing interest in settling in India and buying properties in some of the big cities like Bangalore, Mumbai, Chennai, and Hyderabad.
The attraction of the NRIs is more towards the commercial real estate sector which is a different investment altogether and offers good capital appreciation as well as rental yields.
The current market is helping the NRIs to buy properties at a cheaper rate because of the weakening rupee. This has turned out to be a boon for people earning in foreign currencies and spending it in buying properties in Indian rupees.
The new and changing norms in the real estate market have brought in a lot of transparency to the builders and property developers making it a win-win situation for all.
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