This year real estate players in India will have a reason to smile. Studies indicate that NRI property buyers' investment is expected to surge by 35% against 18% in the last fiscal year.
"NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields" said D S Rawat, secretary general of ASSOCHAM in a report. According to a survey conducted by the industry body, where 850 real estate developers were questioned, there has been a substantial increase in number of enquiries from NRIs. The survey was carried out in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun and Chennai among others.
Rawat attributed this rise to the revival of global economies. "People are more optimistic and looking for property to invest in. Both small and big developers are focusing the NRI base in the US, UK and Asia Pacific Region this year. "
According to the findings of the survey, NRI property buyers have shown inclination towards high-end residential and commercial properties in the country. A large number of enquiries are coming from Indians residing primarily in the Middle East, the US, Singapore, Australia, UK, Canada and South Africa.
In terms of the most preferred city, Bangalore has topped the charts followed by Ahmedabad, Pune, Goa and Chennai. Surprisingly, Delhi is among the least preferred real estate markets.
"Bangalore tops in terms of investment from Non Resident Indians (NRIs) who are considering settling down in India in coming years. The major factors that drive NRIs to invest in Bangalore's property market is the booming IT sector. On the other hand, Ahmedabad has continued to be the most stable market in terms of demand and absorption of both residential and commercial spaces. NRI's consider Ahemdabad as a safe place to invest in, with lenient government regulations regarding property investments by NRIs. While Pune takes the 3rd place with 30.5%, Chennai at 28% per cent assumes 4th position and Goa is at 5th position with 23%. While in Delhi, only 21% NRIs are interested in property purchase," the study disclosed.
In order to woo the cash-rich NRI clientele, real estate players have not only organised property shows and exhibitions, but have also expanded their existing distribution chains and entering into strategic partnerships to encourage investments in the Indian property market.
"NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields" said D S Rawat, secretary general of ASSOCHAM in a report. According to a survey conducted by the industry body, where 850 real estate developers were questioned, there has been a substantial increase in number of enquiries from NRIs. The survey was carried out in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun and Chennai among others.
Rawat attributed this rise to the revival of global economies. "People are more optimistic and looking for property to invest in. Both small and big developers are focusing the NRI base in the US, UK and Asia Pacific Region this year. "
According to the findings of the survey, NRI property buyers have shown inclination towards high-end residential and commercial properties in the country. A large number of enquiries are coming from Indians residing primarily in the Middle East, the US, Singapore, Australia, UK, Canada and South Africa.
In terms of the most preferred city, Bangalore has topped the charts followed by Ahmedabad, Pune, Goa and Chennai. Surprisingly, Delhi is among the least preferred real estate markets.
"Bangalore tops in terms of investment from Non Resident Indians (NRIs) who are considering settling down in India in coming years. The major factors that drive NRIs to invest in Bangalore's property market is the booming IT sector. On the other hand, Ahmedabad has continued to be the most stable market in terms of demand and absorption of both residential and commercial spaces. NRI's consider Ahemdabad as a safe place to invest in, with lenient government regulations regarding property investments by NRIs. While Pune takes the 3rd place with 30.5%, Chennai at 28% per cent assumes 4th position and Goa is at 5th position with 23%. While in Delhi, only 21% NRIs are interested in property purchase," the study disclosed.
In order to woo the cash-rich NRI clientele, real estate players have not only organised property shows and exhibitions, but have also expanded their existing distribution chains and entering into strategic partnerships to encourage investments in the Indian property market.
