NRI turning to India for Real estate Buying

Home buying has always been an integral part of an investment strategy; it has emerged as a preferred investment proposition in wake of Covid disruption. Discerning domestic homebuyers as well as global Non-resident Indians has apprehended the importance of buying or investing in Indian real estate – especially an owned house. The Covid distress has raised the significance of buying an owned house on grounds of safety, security and stability amidst the prevailing globally challenged scenario. The unsecured job markets, relocation of working populace, work from home has triggered the need to buy a safe nest back home to secure the comeback living. 

The NRI homebuyers are excited to reassess multiple investment options across residential segments from dual perspective ie end use or return on investment. Indian Developers have witnessed a surge in property enquiries across the locations leading to higher scope of prospective sales with many favourable factors to make the purchase. NRI’s at a fast pace are evaluating the home buying options from the cities of origin to emerging real estate hot spot locations closer to their hometown.

With options at galore, the NRI is in a ‘pick and choose’ situation. The current market developments like depreciating rupee vis-à-vis global currencies in which NRI draws income, attractive property prices, home loan interest rate at its lowest, easy availability of home loans for period of 30 years and against 90% of the property value, choices of apartments available, government incentivization in form of credit link subsidy and deal sweetening festive offers augurs well for NRI home buyers to close the deal. The technological advancement with digitalised modus operandi has equipped NRI’s to make the virtual site visit, understand the location and layout with augmented reality and make the bookings via online payment gateways. This ease of doing business virtually has helped to navigate the physical presence challenges and accelerate the translation of enquiry into booking swiftly