With Real Estate investment norms for NRI simplified recently, this is indeed the best time for NRI’s to invest in the real estate sector in India. The rupee has fallen against most major currencies this year and the icing on the cake has been RBI has deregulated interest rates on NRI deposits.
With houses becoming affordable these days, it’s easier for a working professional to afford one. Mr Sushil Mantri, Chairman and Founder of Mantri Developers agree to it and he says, “It is true. If you see Bangalore market from the year 2000 has totally shifted towards IT customers. The term ‘Affordable housing’ came into limelight during recession and many projects were altered and redesigned to make it more affordable and it was successful. During recession, property prices went down by 20 to 25% and the focus from IT shifted to non-IT sectors like bank, insurance company, chartered accountant etc. Since IT industry was badly hit that time we received more bookings from non-IT sectors. 3BHK which we were selling at 80 lakhs saw a drop to 45 lakhs.”
Experts say if you are an NRI, you can expect to benefit from a weakening rupee for some more time, provided you keep your money invested in India. With so many real estate options to choose from in India today, one can not only dream of owning a property in India today but can be the owner of one.
Mr Mantri also says that investment in real estate in India has a very good investment opportunity in the next five years as the purchasing power of the investors has increased leading to the demand for properties.
Via : The Mantri Blog