NRIs Have Golden Time To Invest In Indian Property Market

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Indian property market
NRIs Have Golden Time To Invest In Indian
Property Market
Feb 2018
In Green Homes
The non-resident Indian or NRIs have the
advantage in the luxury property market
especially in India post-demonetization as the
realty developers in prime cities of the country
have expressively dropped the rates of
property. The recent move of demonetization has
dropped the property rates significantly across
various cities in the country. Especially the
luxury homes range of the property homes has been
hit badly provided that one of the objectives of
preset demonetization move is too minimal or
discourage all the cash transactions.
Always there has been the trend for the
non-resident Indians to invest in the Indian
luxury homes in the metropolitan cities of the
country, especially in cities like Delhi, Mumbai,
Chennai, and Bangalore. The industry observers
believe that the Chennai-based developers are
presently cutting down the rates up to Rs 20
lakhs on the slower moving projects. The experts
believe that one can expect a 10-25 discount
soon in the luxury segment of the housing
condominiums and in the upmarket areas like RA
Puram, Nungambakkam, and MRC Nagar in Chennai.
Also, they have forecasted price of property in
Delhi to proffer 25-30 discounts and 30-40
discount on Bangalore properties. Non-resident
Indian sources expect the rates of luxury
property to drop by 25-30. The transactions of
property have plunged specifically in previous
month post-announcement of the demonetization
program. Also, the registration of Bangalore
property has dropped to around 200/day in
comparison to somewhat 1,800 properties before
demonetization came into action. Mumbai is
expected to see a 50-70 slow or even go to the
period of no transaction. The property inquiry
portals in India has been observed by the experts
and it has significantly dipped, about 400 people
per day asking from the erstwhile number of 1500
to 1700. But, it looks that the complete market
sentiment at the juncture is to actually wait and
watch and make the correct move at the correct
time.
Certainly, there is no denying that the
non-resident Indian community will take the
advantage of the scenario and explore to invest
in the luxurious condominium housing apartments
in India.
n g
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