Thursday, 23 July 2015
Is Realty Sector still Lucrative for NRIs?
Ask any NRI about their plans of coming back and settling down in India, the answer would probably be, may be a few years later. In the meanwhile, I will look at investing in properties in India for my future and to spend my retirement years! For a long time, India did not offer opportunities for migrated Indians to invest in sectors that would offer a good and valuable return. However, with the turn of events, governmental policies and rising development in the sectors such as real estate, technical and mechanical industries, etc. the scope is increasing by leaps and bounds.
Real estate industry, since the past few years, is being considered as one of the most lucrative sectors that offers a good return on investment to the investors. Be it in the residential sector or commercial one, the industry has shown potential growth to ensure that it attracts both international and domestic buyers.
In case of the NRIs (Non-Resident Indians), the idea of investment in real estate sector is mainly in cities of their origin or in places which guarantees development in the coming few years. Cities such as Delhi NCR, Kolkata, Hyderabad, Mumbai, Pune and Chennai are considered to be the hubs of real estate investments since many residential as well as commercial properties are being developed at regular intervals. Investment in the real estate sector also gives the Government a scope to increase and stabilise its economy.
In cases of the NRIs, and because of their monetary strength, most of them consider investing in luxury apartments. In India, of late, the trend of building luxury apartments has increased owing to the demand from the NRIs who look at investing in such properties either for themselves or for renting them out. However, if experts are to be believed, investing in smaller apartments is considered to be more beneficial since these can be put out on rent easily and the demand is higher in comparison to the luxury apartments. The current trend reveals that investments are found to be more in the township based properties which offer apartments that are not too luxurious but are in sync with the kind of lifestyle people are aiming to live.
Although for NRIs, investing in real estate sector is still lucrative, they must consider all kinds of legal aspects prior to investment and leasing out the property. It is better to go through professional agencies who can help in showing the best properties and then take an informed decision.