Indian Property market is a hot investment option for dollar holders
BHOPAL: Devaluation of Indian rupee against US dollar is bringing NRI investors back to India to park their funds. Natural preference for them is their hometown or nearest metro. Rupee is at record low against dollar and it’s a great attraction for NRIs to park their funds in Indian real estate projects to get benefit of this situation.
Pradeep Karambelkar of RE/MAX Bhopal and Charanjeet Singh from RE/MAX Indore will be representing the Realtors of Madhya Pradesh at the Great India Property Show to be held on 23-26th January 2012 at Toronto, Canada.
Indian Property market is a hot investment option even today and the sentiment is echoed by all the developers back in India as the enquiries and purchases by NRI’s have kept on increasing. This is even after the interest rates on home loan have gone up. Residential property demand will remain strong because of the strong business climate, plus the depreciating rupee that is catching NRI’s fancy.
Above 800 Agents of Indian Origin are working with RE/MAX Canada
Our endeavour and core strength has been to create a convenient interface between millions of NRI’s and developers in Madhya Pradesh,” said Manish Rajoria, Regional Owner, RE/MAX MP1.
“We aim at helping the NRI’s here to make the property purchase process seamless thereby enabling them to nurture the earnest desire to own a property back home. Big cities such as Delhi and Mumbai are still offering good returns but smaller, satellite cities such as Bhopal and Indore have emerged as key destinations for investments,” added Rajoria.
Rupee’s sharp decline against the dollar has made homes in India increasingly cheaper in dollar price terms, creating opportunities for those living and earning overseas,” said Pradeep Karambelkar, BO, RE/MAX MP 1.
“Add the 10-15 per cent discount that builders offer on down payment and the effective price for an NRI buyer drops by more than a fourth. Little wonder then, NRIs have been looking at homes back home with renewed interest, reflected in their rising share in the domestic real estate market.” added Karambelkar.
The scope for Indian real estate market is simply unlimited. It does not resemble a bubble that will burst. An unhindered growth for the next two decades is almost sure because outsourcing business in the country entails a huge demand for commercial buildings and urban housing, besides improvement in infrastructure across the country.
