Indian rupee day by day a major fall against the Us dollar in recent months, Non-Resident Indians (NRIs) have begun scouting for property buys in India, according to reports. This comes after this Situation in the Indian residential real estate market over the previous years, which was aggravated by demonetization and establishment of RERA. Added to this, NRIs were approach about investing in Indian real estate with hope for lucrative returns due to lack of transparency, safety issues and fears of sale propositions.
However, the trend is changing. RERA has hugely influenced the Indian realty industry for good. Transparency and consolidation can help the market evolve and shape the industry in a positive way.
Mr Sunil Sisodiya, Director, Geetanjali Homestate Pvt Ltd, said that around 30-35% of NRIs are looking to invest in property as an asset class and the number is increasing year by year.
However, besides the Indian rupee falling angle, there are several other factors that making Indian real estate attractive for NRIs.