NRIs today are highly aware that Indian real estate once again is a very hot investment region. For over a decade Indians have migrated to countries for attractive dollar pay-scales so that they can provide better standard of living to their families in India.
NRI’s looking for property investment in India to make a profit by leasing or renting out their home can now focus on Indian real estate market. For a long period, investments in India did not offer good returns, but with the government intended on boosting business in the country Indian estate is now attractive market for NRI investors.
The residential, retails, hospitality and commercial properties are predicted to grow at 30 percent in next 10 years. As long as investment decisions are well-thought and wisely based on future capital returns, Indian realty can pay off very well in long term.
Current Indian Real Estate Scenario
Indian developers misjudged the actual demand of home-buyers in many cities and their willingness to spend on their first or second homes. Due to which larger homes with high pricing remained unsold in the market.
Now real estate developers are focusing on right-sizing and right-pricing. In 2015 many projects launches are offering smaller yet better-designed and efficient homes to the home-buyer including NRI’s.
Many housing projects in various cities were over-priced over the last two years and hence the corrections are implemented to boost the sales of larger homes. Luxury home projects are now declining due to less demand.
The surge in super-efficient and self-sufficient townships offering high standard lifestyle for the families is one of the hottest buying grounds in the Indian real estate.
Price of residential property is now levelled in both Delhi and Mumbai. The annual returns of 10 percent can be expected from third year. The declined sales in luxury property are available in Indian cities but struggling to sell and hence, developers are offering attractive financial schemes.
Advice For NRI Property Investors
NRI’s while buying a primary or second home must weigh the merits and demerits of the options with the help of real estate professionals.
NRI’s must buy only from reputed developers and verify the track record and brand visibility of the developer. One should pay attention to location, amenities and social as well as civic infrastructure of the project. Timelines for possession should also be considered in case of projects under construction.
For the retirees it is the right time to invest in Indian property market. Social and civic infrastructure is developing in big cities with rise of more hospitals, schools and shopping malls as well as improved connectivity and availability of utilities. Retirees can enjoy high-quality and comfortable lifestyle In India once they return to India. NRI investors can avail discounts on booking the legitimate projects in the upcoming locations in pre-launch stage.
NRI’s looking to generate income from renting out the homes must be aware of must be aware of all the bylaws and regulations of taxation that apply to NRI investors.
NRI’s with surplus funds to invest in Indian real estate must base buying decisions after a thorough research to capitalise on property investment in India.