Most Non Resident Indians (NRIs) hear stories from friends and family in India who’ve made tremendous profits in the real estate industry. This makes them deliberate using their savings in foreign currencies to purchase real estate in their home country. But most of them are not familiar with the rules and regulations of real estate investments, which let’s face, it can be pretty complex. Since NRI property investment in India is extremely lucrative, we’ve listed out some points that can facilitate your decision to invest in the sector.
Why should NRIs invest in Indian real estate?
In the recent years, investors have earned over 20% annual returns in the Indian real estate industry. Real estate investments help grow your corpus rapidly, if invested in localities with high-growth potential. The growth in India’s, particularly Mumbai’s urban areas, coupled with the influx of people from different parts of the country has paved the way for Mumbai to emerge as one the largest contributors to world economy. Mumbai’s Thane area particularly, is seen as a profitable site for real estate development with several state-of-the-art residential and commercial complexes being planned. Investing in new residential projects in Thane can prove extremely fruitful and yield great returns for NRI investors, since they are in a unique position to take advantage of this situation.
What are the best places in India for NRIs to purchase property?
Suffice to say that not all property markets yield equal returns. NRIs must examine the nitty-gritties of the market in which they wish to invest. A good rule of thumb is to invest in cities that have a fast population growth with continual influx of people. Also, investing in cities where people make the highest incomes, but the property prices are such that an average middle-class man can afford, is a safe bet. Investing in the countries metro cities like Delhi, Chennai, Kolkata and Mumbai can be intimidating. If you still wish to invest in Mumbai, you should consider putting your money into an area like Thane, which is witnessing a big boom in terms of its real estate. If you must invest in Mumbai, then new projects in Thane Ghorbunder Road and other popular areas in Thane is a great option. NRIs looking for high potential property investments should consider investing in Thane and other new-economy cities like Bangalore, Hyderabad and Pune.
How should NRIs go about with the investment?
After doing your due diligence and thorough research, NRIs can finalize a residential or commercial project they wish to invest in. It is recommended that you select a project being constructed by a reputed real estate company with years of experience. Some of the best real estate companies in India include Godrej Properties, Oberoi Realty, T Bhimjyani Realty, Lodha Group and Prestige Group. You can visit the NRI corner on the website of these real estate companies or speak to them on their helpline number for guided instructions.Read More