Altering scenario of India’s economy and its rapid growth has drawn millions of NRIs eyes towards India for resettlement here. Around 2,800,000+ in Africa, 10,840,000+ in Asia, 4,200,000+ in West Asia, 1,768,834+ in Europe, 5,100,000+ in North America/ Caribbean, 510,000+ in South America and 850,000+ in Oceania are the figures of Indian population. But now, a wide population of this Indian diaspora abroad has begun resettlement in India.
An NRI can invest in property which:
- Serves the purpose of residential and commercial property.
- Is immovable property other than property for agricultural/ plantation/ farmhouse.
But he can enjoy the right of:
- Transferring any immovable property to the resident Indian.
- Transferring immovable property, except the fore told ones, to the residents of India or a person of India origin resident outside India.
Emerging Hotspots For Investing In Property
Metropolitan cities enjoy the most happening places for property investment companies in India. The non-residents of India (NRIs) demand for posh area where essential amenities, such as roadways, hospitals, schools and other civil services should be there.
Why Should NRI Invest In Indian Property?
Drop in the launch prices of residential property: Nearly 4% to 20% dropdown is registered in the rates of property in Delhi-NCR, Mumbai and Bengaluru during the year 2015. This percentage is estimated as the major shredding to its basic sale price during last two years.
- Dropdown in the sale price of Mumbai property: The major cut down is reported in the sale price of Mumbai’s Goregaon which marked INR10, 500/sqft in 2015. Thane trailed it with 18% cut down.
- Dropdown in the sale price of Bengaluru property: The sub-markets here stayed steady excluding far south and western sub-market. These regions’ selling prices declined upto 2 to 7%. The average sale price of the property in south east micro-market of Bengalore was weighted 19% while the average ticket size of the apartment increased to 18%.
Development is speedy: The development near Dwarka Expressway, New Gurgaon Southern Peripheral Road Sohna , Noida Expressway and Noida Extension in NCR, Thane, Goregaon & Malad in Greate Mumbai and south-west as well as southern sub-markets in Bengaluru is accelerating progressively.
Huge number of housing projects: The metro cities’ real-estate companies and housing developers have become active. All in all, 23,000 units were announced in 2015 in Delhi-NCR region. Around 79% of these fall in the locality of Dwarka Expressway. Mumbai city announced 15,735 units as residential units for sale.
Dollar values stronger than Indian rupee: The present status of Indian currency is 67.75 rupees per dollar. So, it would be a profitable deal for them as it will cost less to them since their earning is in dollars.
So, NRIs have golden opportunity to resettle in India due to the foretold reasons.