Bangalore Become the Most Favorite Property Investment Destination for NRIs
Bangalore is in the foremost position as a favorite property investment destination for NRI’s where as Ahmadabad is in 2nd position, Pune in 3rd, Chennai to 4th, Goa to 5th, Delhi in 6th and Dehradun is in 7th position, according to Assocham report
Oct 09, 2014
Source : siliconindia.com
Real Estate

 

Bangalore : Now a day, the real estate market in the Bangalore city is propped up by investments from NRI’s as it has turned into a standout amongst the most favorite investment destinations. Recent report by ASSOCHAM (Associated Chambers of Commerce and Industry in India) revealed that “Bangalore is in the foremost position as a favorite property investment destination for NRI’s where as Ahmadabad is in 2nd position, Pune in 3rd, Chennai to 4th, Goa to 5th, Delhi in 6th and Dehradun is in 7th position”.

As per the report, Rupee value depreciation against the US dollar since August 2011 is the prime reason for the NRI’s to buy property and the sluggish realty market proved enchantment for NRI’s.  This has attracted many non resident Indians for investment and many Indian property realtors are predicting an increase of 35 percent in real estate inquiries as compared to last year about 18 percent. The arbitrary survey report was piled up based on 1,250 real estate developers in Delhi-NCR, Chandigarh, Kolkata, Mumbai, Hyderabad, Bangalore, Pune, Ahmadabad, Chennai and Dehradun.

The survey adds “NRI’s feel optimistic about new government and waiting for an investment cordial market in various fields. The majority of property developers expanding their existing dissemination chains, entering into partnerships and conducting stalls, shows and exhibitions, these attract the investors and grabs the maximum demand from high end property segment and commercial building. Real estate companies revealed that most of the traffic is coming up from NRI’ dwelling in U.S., UAE/West Asia region, UK, Canada, Europe, Singapore, Australia, South Africa etc.

D.S Rawat – ASSOCHAM Secretary General stated that, this is the great time for non Indian residents (NRI’s) looking to invest; they can save at least 20 percent of their property value. This year, both the small and large developers are focusing on NRI’s residing in regions like US, Asia Pacific Region and UK.

As per the analysis, Ahmadabad continued to be stable at 32 percent in terms of demand and inclusion of commercial and residential property, in the impending year the NRI sales are likely to increase from 18 percent to 30-35 percent. NRI’s who are planning to settle down in India, prefer Bangalore Metropolitan city as a safe place for property investment due to its favorable exchange rates. Exponential growth of physical and social infrastructure, booming IT sector, establishment of IT/ITES and many multinational companies and lucrative job opportunities for professionals are the major factors that drives NRI’s to invest in Bangalore city.

Latest Realty News

Muthoot Finance launches housing loan down payment product
Oct 09, 2014
Gold loan company Muthoot Finance has launched a product 'Home Down Payment Loan' to finance margin money needed to avail of home loans
Wave enters housing finance business; aims Rs 1000cr loan book size
Oct 09, 2014
Wave group, which is into liquor, realty, sugar and cinema businesses,announced its foray into the housing finance sector
DDA extends new housing scheme submission dateline to October 15
Oct 08, 2014
DDA has extended the last date of submission of application form to October 15
Global housing prices are a tale of two worlds
Oct 08, 2014
AN index tracking global property prices in 50 countries shows prices haven’t much risen over the past five years
Real estate market cold as realtors fail to woo customers this festive season
Oct 08, 2014
The festive season has failed to bring cheer to the real estate market, with builders and brokers reporting "notso-encouraging" sales over the past two weeks
Goldman exits Bangalore Four Season property
Oct 08, 2014
Global private equity major Goldman Sachs has sold its entire 73 per cent stake in City View Bangalore Properties to a JV floated by Blackstone and realty player Embassy Group
Big realty sets sights on Port City
Oct 07, 2014
The Port City's newfound status as Andhra Pradesh's largest city seems to be attracting national realtors to its shores
Sector 99 flats sold without licence: RTI
Oct 07, 2014
Investors who have booked flats in a housing project in Gurgaon's Sector 99, have demanded an investigation into what they claim is a "case of cheating"
In dull property market, investors choose financing over flats
Oct 07, 2014
The stagnant real estate market is witnessing a significant shift in stance by investors
BDA drags its feet over plan approval
Oct 07, 2014
The Bhubaneswar Development Authority is taking an average 104 days to approve a building plan compared to the stipulation of maximum 60 days set in the Odisha Right to Public Services Act, 2012

Latest Realty News Of State

Realty Talk's