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Luxury Home Investment Tips for NRIs

The key factors to look at when buying an exclusive luxury home, Akash Puri, Director of India Sotheby’s International Realty says are connectivity to the airport, closer to employment centers like corporates offices and over all proximity to the heart of the city.

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Updated:November 2, 2018, 6:21 PM IST
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Luxury Home Investment Tips for NRIs
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Luxury homes is the new buzz word in the Indian realty sector. Recently India witnessed a sharp rise in luxury home buyers with a large number of them being NRIs. Owing to this upward trend, The Global Conclave for Indian Realty organized a panel discussion in Dubai to help NRIs understand what would pertain as the “right bets” while investing in the Indian real estate market.

Led by India’s foremost realty expert Manisha Natarajan along with Sudha Sharma-Head Special Projects, Network18 Digital, the panel chaired eminent names like -Anita Kataria, Senior Vice President, Sales, Raheja Universal, Reeza Sebastian Karimpanal, Sr. Vice President, Residential Business, Embassy Group, Santhosh Kumar, Group Vice Chairman, Anarock Group Business Services Pvt. Ltd and Akash Puri Director International, India Sotheby’s International Reality.

These experts explored the true meaning of luxury and came to the conclusion that while being a rather broad term, luxury in its essence encapsulates exclusivity, space, ambience and an entire experience of high value living. However, Santhosh Kumar, Group Vice Chairman, Anarock Group Business Services Pvt. Ltd was of the opinion that the price tag attached with this experience or the product matters a lot to a discerning NRI as everyone is looking for the right value for their purchase.

“Understanding the needs and demands of the NRIs, the Indian developers have matched the global standards. Now the buyers can avail the same amenities and offerings by say a Four Seasons across all their properties globally, thereby selling a concept” says MsReeza Sebastian Karimpanal, Sr. Vice President, Residential Business, Embassy Group.

Unlike NRIs, the Indians buyers can be classified as broadly “traditional buyer” who are looking for space expansion and therefore opt for luxury homes and other being “new-age” buyers who essentially look to associate with a brand and want to experience community living, explained Anita Kataria, Senior Vice President, Sales, Raheja Universal.

Adding a word of caution for the NRI luxury home investors, the experts collectively believed its safer to go with established brands who have already delivered successful housing projects. Also, while choosing the area, investors should opt for the “upcoming” pockets of cities like Bengaluru, Pune and Mumbai as these have a higher appreciation and development possibility.

The key factors to look at when buying an exclusive luxury home, Akash Puri, Director of India Sotheby’s International Realty says are connectivity to the airport, closer to employment centers like corporates offices and over all proximity to the heart of the city.

Commenting on the stark depreciation of the value of rupee, the panelists strongly believed that this is the optimum time to invest in India. In fact, investing in co-living spaces and luxury homes yield a high rent value. Hence its ideal to rent out homes while the NRIs are away as it not only generates income but is also a good asset management trick. Conversely, the place could be leased out to developers who would maintain and manage the property.

For the first time NRI investors, the experts suggested to do a complete reiki of the area, clarify all doubts with the developer and most importantly not pay up the entire house value upfront. It is also sensible to opt for a ready to move in properties rather than ambiguous under-construction projects.

To know more tune into CNBC TV18 on 18th November at 4pm

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