Investment in the Indian Real Estate Market – Best Time for NRIs

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Investment in the Indian Real Estate Market – Best Time for NRIs

by By Azea Botanica

Current Market Scenario

Recent trends have shown a rise in expatriate Indians investing in real estate in India over the past few years.

Media reports have stated that investments by NRIs in Indian real estate have been doubled.

As compared to earlier, wherein independent residential properties were the preferred choice for investment, the preference seems to be changing now.

With Non-Resident Indian’s (NRIs) looking at investments which yield higher returns, the trend shows an increase in the demand for Luxury Group Housing properties.

The regulatory environment has dramatically evolved over the last one year.

Favourable norms for investors and end-users,

with increased transparency & accountability as well as the establishment of escrow accounts under the Real Estate (Regulation and Development) Act (RERA),

and an encouraging dollar exchange rate for NRIs make it a highly lucrative time to invest in residential property in India.

Factors to track

A key factor to consider when planning investing in India is that post the advent of RERA and GST, the market has become more friendly and transparent for the buyer,

not just in the commercial space but also for those leaning towards residential properties.

Lower rates of residential properties and high demand for commercial spaces is the leading cause for the NRIs’ interest in locations where commercial and residential properties are witnessing

a rise in prices.

Exchange Rate Consequences & Attractive Schemes

Over the last year, the Indian Rupee has lost close to 13 per cent in value vis-à-vis the USD.

This has enabled NRIs to make bigger investments in India, especially in the luxury housing segment of the real estate market in Tier 2 cities like – Lucknow, Agra, Bangalore,

and Surat to name a few.

A solid push by the Indian Government through multiple initiatives such as ‘Housing for All by 2022’ and 101 Smart Cities has also given a further push to the NRIs interest in buying a home

in India. To give an overall boost to the Real Estate segment, it has been classified as “infrastructure” which would provide tax benefits and subvention schemes to any investor.

This adds up to the list of advantages NRI’s get when planning to invest in real estate in India.

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