Undoubtedly, builders and housing companies have tried so hard to bring boom in real-estate sector. They have done a little bit of corrections in metropolitan cities’ housing prices. It’s a welcome decent change but the goal is still far away. Concentrating on NRI as their future audience, they have trimmed prices to facilitate NRI services. Even, innovations are on trial too for tempting NRIs & other buyers. But the depression of housing sales can be static and worrisome.
Housing Market of India was undergoing low phase. Why?
- Developers kick started their project late
- They were selling just dreams by offering discounts and waived fees
Shattering housing business in Mumbai:
- First half of the year had registered 47 % roll down in new launches
- 2,00,000 houses are yet to be sold in Mumbai
- 30% reduction is recorded in the housing demand in the last two years.
- Just 28,446 properties and new launches & 18,887 units are lined-up.
Responsible factors for declining housing sale:
- Declining position of rupees against dollars in the international market
- Rising inflation rate over last couple of years.
- Rise in the price of the property for end users
- Boom in alternate investment plans
- Slow growth
Tricks of real-estate companies for tempting NRIs:
The Indian government is on track of progression under which economy is developing leaps and bounds. Sophisticated and changed lifestyle speaks out vividly how much picture of Indian landscape has been improved. Lenient laws for NRIs legal investment services & plans have attracted countless migrants to rethink for re-shifting to India. Thereby, most of them have started making plans after retirement to live in native land.
- Launching easy schemes of financing
- Freebies like free cars and modular kitchen
- Affordable price of property
- Reduction in interest prices on being financed
- Providing world class luxuries
- Crowded with fundamental as well as urban amenities
- Connectivity to hospitals, schools and shopping malls etc.
How NRIs can earn more money through property investment in India?
NRIs’ investment in Property: The NRIs can invest their capital in property in India. This way, they can ensure an income source. They can lend it to tenants which results in future income through rental income generation.
But they should be aware of the Indian policies of tax and property tax as rental income fall in taxable income.
Preliminary evaluation is essential before nodding for purchasing land or property in India. NRIs enjoy an edge to get their future property evaluated through their near and dear ones in India.