More NRI investors are showing interest in luxury homes post RERA, GST
Post RERA and GST, more Non-resident Indians (NRIs) are looking forward to investing in India as the real estate market has become more lucrative for them..
Post RERA and GST, more Non-resident Indians (NRIs) are looking forward to investing in India as the real estate market has become more lucrative for them. NRIs are showing interest not only in commercial properties, but in residential ones too.
Lower rates of residential properties and high demand for commercial spaces is a major factor driving the NRIs’ interest in locations where commercial and residential properties are witnessing a rise in prices.
“Earlier, luxury residential homes were the major key attraction for NRI buyers, but now this trend seems to be changing. NRIs are now buying properties keeping in mind the high returns on their long-term investment plans,” says Nitin Agrawal, a Bhopal-based builder.
NRIs get several benefits in the residential and commercial segments of the Indian real estate market. Incentives in the form of discounts, and low residential prices are also available to buyers planning an immediate property transaction. Several developers are offering good prices for commercial as well as luxury properties for clearing the under-construction inventories.
According to Nitin Agrawal, MD of Swadesh Builders Bhopal, RERA has ensured that investment in residential property has become safer, and the risks previously attached to home purchase have been moderated. Owning a home in their respective cities is a sound investment for the future, considering that several NRIs will return to India at some point.
This is the right time for investment in the realty sector, since developers are offering cheaper rates for best properties to clear unsold inventories. “It is a good time for NRIs to invest in the residential real estate. Property rates have dropped significantly after demonetization,” says Nitin Agrawal, who is also the Vice Chairman of CREDAI Bhopal.
He adds, “Moreover, these regulations have increased the equitability of the market, thus bringing about better accountability and transparency. NRIs are now diversifying their asset exposure and investing more in commercial properties as they offer a longer lease period and assure a steady income. While investing in commercial real estate, it is not just the building but also the land has meaningful intrinsic value.”
If you are an NRI and considering buying a property for investment, this could be the best time for you to make moolah in the long run. Invest in the Indian real estate market now. However, make sure to analyze the past price trends, upcoming social and physical infrastructure, and commercial developments before buying.
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