Rupee depreciation drives NRIs to invest in India
According to a survey, the value of the rupee over the last one year has gone down and hence it lures NRIs living in UAE to buy properties in India even if it stretches to Rs 1 crore or more.
According to reports by Sumansa Exhibitions, who organised the Indian Property Show, 89 per cent of NRIs (non-resident Indians) in the UAE is planning to leverage the power of their additional income by investing in properties worth up to Rs 1 crore and beyond.
The market has seen a different change due to the weakening of rupee and dirham rose up and due to which NRIs to buy properties at a cheaper rate in India.
Around 26.7 percent of NRIs are looking for property investment and which will be a sharp rise of 6 per cent in one year. As the NRIs get citizenship, it becomes very easy for them to invest in properties of India specially destinations like, Mumbai, Bangalore and Delhi.
The trend for investing in additional properties in metro cities got a hike and will rise up with a good appreciation within four five years.
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