The NRI’s i.e. Non-Resident Indians were distancing themselves from investing in the Indian real estate market sometime back. But, the introduction of various reforms like the RERA Act, GST, Benami Property Act and more have made them realize how trustworthy the Indian property market is and thus the NRIs are heading back towards their ancestral land i.e. India to invest. The lawful abiding of the realtors/developers and the deadline to offer possession along with proper documents make the Non-Resident Indians interested in purchasing property here. Interestingly, the NRIs are seeking investment in both the residential properties as well as in the commercial properties too. Here are the reasons that attract the NRIs towards the Indian property market at large:
Gone are days when the Non-Resident Indians [NRIs] use to invest only in the property listed at a cheap price. The mindset of the NRI investors has also changed with the change in trend and property market. Earlier, only the cost of residential properties were evaluated whenever any NRI thought about investing in India, but now these foreign-based Indian citizens think and assess ROI [Return On Investment] prior to making a deal here. Thus, these investors take a pan-India and pan-sector look which helps them understand that not only the housing sector but the commercial and Leaseland/plots as they are also a good option to invest in India as the country is outshining other nations on the international level.
The modest values of all properties here ensure profitable deal to the NRIs and these investors have also understood the booming economy which will help them earn huge profit.
Deductions for NRIs
The formation of the RERA Act has toned down the manipulations that some people used to do earlier. Hence, today the Government is also welcoming NRIs by open-arms to invest in India at large. Thus, there are several deductions available for the Non-Resident Indians which they can avail by putting money in various projects here in the country. The Indian real estate market is offering all under-construction, upcoming and completed properties/projects in both residential and commercial sector where the abroad living Indians can invest and earn high returns apart from enjoying various deductions.
The introduction of the RERA Act has full-proofed the property purchase with stringent laws which prove helpful to the NRIs as it protects them from getting cheated by any seller/developer/realtor.
REITs Attracts Investment
The entire country is witnessing a significant rise in demand for properties worth investments. The cities like IT city Bengaluru, Gurugram, Pune and others have been trending as the top cities to offer commercial and residential solutions to professionals and investors at large. Thus, REITs [Real Estate Investment Trust] is a platform where the Non-Resident Indians [NRIs] can find the property/properties as per their investment budget and can seal the same deal online as well as offline whichever suits them better. Also, the NRIs can go through the listing available and compare properties that will offer better ROI [Return on Investment] to them. The growth of business opportunities has paved way for the workplaces and investing in these projects can make you the NRIs earn better as the steady growth in the cost of rupees is also a positive sign for the Indian property market.
The NRIs look for big time investment and short-term investment both. Thus, the availability of various options to invest make the NRIs king as they can finalize small deals which will increase their assets ratio and can also invest in huge property projects which will add a handsome amount of monetary funds into their balance sheet. At present, the NRIs understand all the above-mentioned pointsand this will help in making investments in case you have not gone through these points yet.