Indian realty industry back on preferred list of NRIs

According to HDFC, favourable movement in the rupee and stable home prices have aroused NRIs interest in the real estate market. And in order to grab their  recent interest, many real estate developers in India as well as HDFC are coming up with new marketing campaigns such as property fairs in US, Dubai or UK which have a high NRI population. Though it’s a good sign for the industry at this point of time as the housing demand in the local market is in a sluggish mode for the past few years.

NRI involvement in the Indian real estate market  has become very important as they contribute about 8% to 10% of the entire housing sales in India. The depreciation of the rupee against dollars is one of the major reasons that have been stimulating the sentiments of the potential home buyers and investors from the international market. To push up this interest, the country’s leader in the mortgage lender, has organised ‘India Homes Fair’ exhibition during the month of May in London. The exhibition displayed over 100 projects from all over the states in India that includes NCR, Bengaluru, Pune, Kolkata, Chennai, Hyderabad, Mumbai among others.

Looking at the interest from NRIs, the real estate developers in India are also initiating special marketing offers targeting  NRIs, whose sentiments will further get a boost with the introduction of Real Estate Regulation and Development Bill.

Now, what are the reasons for this interest? The first one remains rupee depreciation and stable housing prices. The second is one is ample of property options that NRIs finds in India either to buy or invest. As the cities have expanded into the suburbs, the real estate developers in India have also concentrated in the city peripherals to develop wide variety and value for money housing projects. 

The different housing options ranging from luxury to affordable residential projects such as plots, villas, big and small flats along with value-added advantages in the form of modern amenities. In addition, the stable lodging costs and lowered interest rates are some other factors that have influenced NRIs to take an interest in the Indian property market.