With the boom in the real estate industry, it does not only allure domestic investors but the India real estate sector has excited young NRIs too for the investment. This segment has become quite favourable for NRIs to invest in real estate in India. With the government’s investment-friendly policies, young NRIs have become more optimistic for properties as a source of investment.
To secure maximum foreign investments, government has initiated many investment-friendly policies like treating non-repatriable investments from NRIs as domestic investment, lowering minimum build-up area requirement to 20,000 sq. ft from 50,000 sq. ft for FDI etc. These surely give a boost to NRIs to invest in real estate in India and revive the Indian economy by inflow of more and more investments from young NRIs.
With the difference in the currency values, investment in Indian real estate is affordable with a view that NRIs tend to pay less due to their higher currency value against rupee. Even builders now-a-days are focusing on young NRIs-centric projects that comply with the norms for young NRIs investment in Indian real estate. Thus, these factors, altogether, make real sector lucrative option as investment in India.
Steady Source of Income
NRIs tend to invest in Indian property with an aim of securing regular rental income. A country like India, where more and more people are heading towards metropolitan in search of better job prospects leads to inflate the demand for rented property. In such a scenario, investing in real estate assures quick-bucks as rental income.
Rooted to the Country
One of the primary reasons why young NRIs prefer to invest in Indian property is to remain attached with the land of their ancestors. No doubt, higher wage rates and better growth aspects tempt NRIs to settle abroad for long run but owning a home in India is always an aspect of importance for them. According to a recent survey by Sumansa Exhibitions “young NRIs, aged between 18 and 35, in UAE account for 43% of investments in Indian real estate segment.”
Promising Prospects of Real Estate in India
According to reports, Indian real estate sector is expected to witness a phenomenal growth and estimated to reach up to $180 billion by 2020. Young NRIs are looking on property in India with the perspective of long-term asset investment and finds it a money-spinning option of investment.
With the real estate sector observing tremendous growth, young NRIs pumping in money paves a way to marvellous growth in India’s infrastructure.