India Turns into a Hotbed for NRI Investment as Rupee Depreciates
The recent fall of the Indian currency went as low as 74.46 against the US dollar. But this has come with a silver lining as far as the Indian real estate sector is concerned.
Representative Photo (Image: Reuters)
The sharp decline of rupee against dollar observed in the last few weeks has impacted Indians and NRIs equally. However, as Indians cringe at their accounts, the NRIs have been gladly looking out for investment opportunities in the country owing to more rupees in their hand.
The recent fall of the Indian currency went as low as 74.46 against the US dollar. But this has come with a silver lining as far as the Indian real estate sector is concerned. With so much more to spare, the NRI investment enquires and even transactions have spiked up remarkably.
In the last couple of years, India has seen a steady doubling of the NRI investments anyway. The key factors others than the dwindling rupee have been increased transparency through RERA (Real Estate Regulation and Development Act, 2016), recent changes like GST and to some degree even the insolvency code. This has instilled a new level of trust among the buyers and the property dealers. Also, the slow domestic sales in the recent past had realtors turn their eyes exclusively to the NRI customers in the hope to revive markets. Properties and projects were built with loaded amenities and were slanted towards luxury homes, which have always been the choice of NRI investors.
Often tied to India through property and emotional ties, the Indian diaspora abroad has always found ways to stay linked to the country even when they’ve completely shifted overseas. However, having little means to stay abreast with the latest changes in the native property market and the subsequent pitfalls, there is a huge need for a platform that will fill the gaps between these potential investors and property dealers.
Keeping in mind the opportunity presented by the NRI community & the growth trajectory within the Real Estate Industry, Network 18 launched The Global Conclave for Indian Realty (GCIR) as a global platform engaging with Indian’s settled abroad. Being a one of a kind programme, GCIR regularly travels across various countries like UK, US, Middle east and Asia. The main objective being educating and engaging investors, it brings together India’s marquee property developers and property experts with NRIs across key global cities.
In their second chapter, GCIR in partnership with IBPC is hosting their conclave in Dubai on Monday 22nd October. Lead by India’s foremost Real Estate and Urban Development expert Manisha Natarajan, the aim is to help NRIs tap into the Indian realty market with a series of panel discussions on topics:
“The Right bets in India Realty” and “Navigating India’s Real Estate Market – Do’s and Don’ts”
Considering the opportune time for NRIs to invest in India,be sure to tune into News18.com for all the details and insider insights from the conclave and make the most of this time to invest right.
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