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After demonetisation Indian economy is struggling to stand up in its leg. As the liquidity in the market vanished, many industries were unable to survive. Real estate industry is one of them. End of 2017, property prices touched the bottom level in India. So investors think that this is the best time to invest in real estate.
If we go by the words of Mr. Ashish Agarwal, senior director, valuation and advisory services, Colliers International India, reduction in supply and promise of builders for timely delivery gives hope to the revival in property business.
Another reason for NRI's interested in Indian real estate industry is the safety measures taken by Indian government. With RERA (Real Estate Regulation Act) in place the danger of delay in finishing the projects is reduced and the promised quality is also visible in the projects. So the risk is reduced drastically. The consumer's confidence is increased because of this RERA.
And anti profiteering provisions of GST and recently amended provisions of insolvency and bankruptcy code give hope to real estate industry. So NRIs want to invest in Indian properties.
Most important factor about the NRIs interested in Indian real estate is due to the sharp fall in Indian rupee against US dollars. In the last eight months NRI's investments in Indian real estate market is already exceeded the total of last financial year. In the fiscal year 2019, the investments in Indian real estate is more than $10billion.
Another interesting factor for these NRI investments is the uncertainty of VISAs and Trump's residency rules. These are the reason for NRIs are so gung-ho about buying property in India.
image source -housing.com
Also Read :- What Is the best location for buy residential property in delhi ncr?
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