Two lateral views from the revolving door
Prashant Thakur, Head – Research, ANAROCK Property Consultants
NRIs Eyeing Indian Properties
Ever since the Indian rupee began nosediving, more and more NRIs (non-resident Indians) have turned their focus to the Indian real estate market. There are good reasons for this.
Other than the favourable exchange rate, the new regulatory environment driven by RERA, DeMo and GST have served to clear up a lot of the misgivings that kept many NRIs from investing in property in India. However, that’s not all there is to it.
Most NRIs, regardless of whether they are permanently stationed or well-settled abroad, at some point entertain a fond wish to buy a home in India – if not for themselves, then for their families back home.
Buying a property is still a mark of prestige and accomplishment for any Indian, regardless of where they are in the world. Nor will most NRIs ever entirely shed a feeling of responsibility towards their families back home.
As per ANAROCK’s recent Consumer Sentiment Outlook survey,