Luxury Homes Are Best Bets for NRI’s
Network 18’ Global Conclave for Indian Realty (GCIR) wrapped up its second edition of knowledge series in Dubai that aimed at educating and engaging NRIs about the “Right Bets” in luxury homes and the “Dos and Don’ts of buying property in India”.
Held on October 22 in Dubai, Network 18’ Global Conclave for Indian Realty (GCIR) was attended by the marquee developers and property experts.
The charm of owning a property in one’s homeland has always been a driving factor for NRIs to invest in Indian real estate. Understanding this need, Network 18’ Global Conclave for Indian Realty (GCIR) wrapped up its second edition of knowledge series in Dubai that aimed at educating and engaging NRIs about the “Right Bets” in luxury homes and the “Dos and Don’ts of buying property in India”.
Held at Jumeirah Emirates Towers Hotel on October 22 in Dubai, this event was attended by the marquee developers and property experts whose primary aim was to update the NRIs about the latest development in the Indian realty market with special emphasis on luxury homes. It also gave a roadmap to navigate this newly RERA regulated sector by cautioning investors about the probable pitfalls.
In an interesting panel discussion with 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 Realty, it was unearthed that luxury homes is the current buzz word for NRIs wanting to invest in Indian realty sector.
The panel was led by Manisha Natarajan, India’s realty expert and Sudha Sharma, the Head of Special Projects, Network18, Digital who explored what Indian markets looks like for NRIs today.
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, they said that investing in co-living spaces and luxury homes yield a high rent value. Coming to a conclusion the panel saidits 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.
In the second leg of the event, experts like Virendra Adhikari, CEO, Asset India, Sunil Tyagi, Co- founder and Senior Partner, Zeus Law and Tanvir Shah, Founding Partner, Blue Triangle Capital deliberated the “Dos and Don’ts of investing in Indian real estate post RERA”.
It is considered essential for all the investors to check the RERA certificate before investing. A complete in-depth information on all projects can be found on the RERA sites.
The experts collectively suggested that big ticket investors should opt for commercial land while those with lesser risk appetite should consider residential properties. “Not many know that SEBI regulates and protects the investors as far as commercial land is concerned” marked Mr Tanvir. He further added that the mantra for commercial land should be “Buy- Add Value-Sell”. On the other hand, for those investing in residential, Mr Virendra suggested to go by “Buy- Hold for a while-Sell”.
As definite dos, the experts advised to invest in projects that have sound infrastructure around. Also, every investor must do their due diligence rather than going by friends and relative’s advice. It would be ideal for investors to physically visit the place before investing. And lastly, investors should diversify investments and opt for a portfolio approach.
To know more tune into CNBC TV18 on November 18 at 4pm.
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