India’s stable government and growing economy are attracting NRIs to buy property in the country.
NRIs in the UAE are always eyeing real estate assets back home, as owning property in India gives them a sense of belonging. With India’s stable government and rising economy, it’s not just the NRI investors here who see value in buying property in India, others view the Indian property market as a lucrative property investment option as well.
This not only propels economic growth, but also brings about appreciation in prices of properties built on the outskirts of metro cities.
Agnelorajesh Athaide, Chairman and MD of St Angelos VNCT Ventures, an affordable designer villas developer, believes India is currently enjoying the highest quantum of infrastructure development the nation’s ever seen. “This not only propels economic growth, but also brings about appreciation in prices of properties built on the outskirts of metro cities. This appreciation is always disproportionate to the capital invested, which everyone, including the NRIs, are interested in.”
In the budget, says Navin Makhija, Managing Director, The Wadhwa Group, the government’s focus on a firm infrastructure push by announcing Rs100 trillion investments will boost the real estate sector and help in employment generation. “The government is also consistent in addressing affordable housing, be it giving infrastructure status to this segment in the previous budget to the exemption of Rs150,000 (Dh7,986) in income tax on home loans under affordable housing in this budget. This is a big move as it will benefit a broader segment of homebuyers and increase demand.”