NRIs are investing big time in Indian real estate market. Here is what NRIs look for before investing in a property.
Having worked abroad for years, number of NRI's look at settling down in their home land. They look for land back home where NRIs can later settle down. Property prices in India often keep on rising, so having a thought of investing in an Indian property is quite natural. Another good reason for this is that investing in a property gives a feeling of support and security.
"When it comes to investment by NRIs, the main reason is the thought of resettling or resale. NCR has become a favourite investment destination for NRIs as the NCR suburbs are close to National Capital making it a better accommodation option and also because the place is well developed offering higher rates of return," according to Sanjay Rastogi, director, Saviour Builders.
Apart from good locality, easy access to services like hospitals, shopping malls, airport and other connectivity aspects are some of the major things that the NRIs look for."Any location linked to the national capital is bound to see significant appreciation, and these areas are also in demand on the secondary sales market. This makes NCR a preferred destination for the NRIs," says Santhosh Kumar, CEO operations & international director, JLL India. According to experts, Delhi-NCR is their most preferred area, but there are some areas which are high on demand. Gurgaon and Noida both are the preferred destinations for NRIs to invest in properties in NCR. NRIs are now also extending their search to places like Noida Extension, Greater Noida, Bhiwadi, Dwarka Expressway and Sohna Road in expectation of good returns from these areas in near future.
Source - Times Property, The Times of India.