Increased NRI investment in Delhi
New Delhi- With Indian real estate booming from the past decades, India has become a hotspot for not just nationals, but also for NRIs to make investments. Most NRIs now prefer investing in their homeland and settling down here.
As per studies conducted in the year 2012, about 40 percent of the Delhi-NCR properties were from NRI investors. NRIs are not just looking forward to invest in residential properties but also commercial properties for guaranteed returns.
Places with new investment opportunities in Delhi-NCR are, Gurgaon, Noida, Greater Noida and localities like Noida Extension, Dwarka Expressway, Bhiwadi, Sohnaroad, KMP Expressway and Gurgaon Faridabad Road.
A price tag of Rs. 2500 per sq ft has been imposed on different projects on the Dwarka Expressway since 2010. This was further appreciated to about 5000-7000 per sq ft for residential apartments with multi-storeys.
One of the key reasons for the increase in price is the high demand from the NRI investors. The Dwarka Expressway also has other sectors like the 108,109,106,110 to be completed in the coming two or more years.
However, areas in Delhi-NCR are expected to have a price increase of about 65-70 percent making it more lucrative for the Indian as well as the NRI investors.
The realty market in Delhi has always offered higher returns with other linked areas getting the realty appreciation due to their connectivity when compared to other metro cities.
Nevertheless, the Allahabad High Court in October 2010 had ordered to completely stop the construction which apparently affected a large number of developers and investors. This was followed by the Allahabad High Court upholding the order to clear the hurdles for the investors and the developers in August 2010.
Due to this halt for two years by the government, values of properties in Noida Expressway has increased with innumerable developments by reputed developers taking place with an increased appreciation of about 30-35 percent.
The other hotspos for NRI investment is the opening of the Yamuna Expressway and adding on to it, was the decline of the rupee value in 2012 by about 20 percent which further made it easier for the NRIs to invest in Indian realty market.
A large number of NRIs have made multiple investments in various units due to the promised returns with higher appreciation of the property.
There were more than 2800 Indian realty units sold to the NRIs in places like Gurgaon, Noida and Greater Noida, causing great benefit of about 40 percent to the builders due to the depreciation of rupee value of 20 percent.
The NRI investment in India also surpassed the FDI in the year 2011-2012 and is seldom being affected by factors like the fluctuating global economy and the falling rupee value.
Countries like US and Gulf were the top most remittance with Europe being the third one for real estate investments.
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