Good time to buy properties in India for NRIs
The dipping rupee value in the past few months has brought a lot of cheer to Non Resident Indians. The Indian real estate market has now turned sluggish and the depreciating rupee adds more power to NRIs dollars and leads them to acquire properties at cheaper rate.
Anuj Puri, chairman & country head, Jones Lang LaSalle, reveals that realty purchases by expatriates constitute about 8% of all property transactions in the country. NRIs prefer to buy real estate as it is considered one of the safest investment avenues. It is also a source of rental income and there is surety that the capital value will appreciate.
Another reason is that there is a slowdown in most economies worldwide, while a few sectors are still profitable in India. So, for the Indians who are living abroad and plan to return if they get better job opportunities here, investing in real estate while the prices are stagnant, makes sense.
Cheaper payouts is an added advantage to the expatriates. If an NRI finances the property through a bank loan, he would have to pay much lower monthly payouts compared with the amount he would have had to dispense a year ago.
To read more real estate news:
Rental cost of commercial property in India is increasing
Property prices will not plunge – Indian realtors
Source: The Economic Times
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