Influx of NRI investments in real estate likely to increase:
ASSOCHAM
12/09/2014 15:22
Indian property developers are anticipating a 35 per cent surge in enquiries from NRI-based purchasers as compared to last year about 18 per cent, reveals the Associated Chamber of Commerce and Industry of India (ASSOCHAM) latest study.
The ASSOCHAM conducted a random survey of nearly 850 real estate developers in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun, Chennai etc. The survey reveals that interest for buying property by NRIs have increased by over 30-35% over the last year. “NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields”, adds the paper.
As per the ASSOCHAM recent findings, Bangalore is the most favourite property investment destination for NRIs followed by Ahemdabad (2nd), Pune (3rd), Chennai (4th), Goa (5th), Delhi (6th) and Dehradun (7th). The majority of real estate developers said the NRI traffic is coming primarily from the UAE, U.S., Singapore, Australia, UK, Canada and South Africa. This year, the demand is more for the high-end property and commercial buildings.
Releasing the paper, Mr. D S Rawat, Secretary General ASSOCHAM said, “With the revival in global economy especially in the United States and Europe people are more optimistic and looking for property to invest in. The both small and big developers are focusing the NRI base in the US, UK and Asia Pacific Region this year.
As per the findings, the share of NRI sales are currently at approximately 18 per cent and are likely to increase by 30-35% in the coming year, adds the ASSOCHAM paper.
12/09/2014 15:22
Indian property developers are anticipating a 35 per cent surge in enquiries from NRI-based purchasers as compared to last year about 18 per cent, reveals the Associated Chamber of Commerce and Industry of India (ASSOCHAM) latest study.
The ASSOCHAM conducted a random survey of nearly 850 real estate developers in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun, Chennai etc. The survey reveals that interest for buying property by NRIs have increased by over 30-35% over the last year. “NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields”, adds the paper.
As per the ASSOCHAM recent findings, Bangalore is the most favourite property investment destination for NRIs followed by Ahemdabad (2nd), Pune (3rd), Chennai (4th), Goa (5th), Delhi (6th) and Dehradun (7th). The majority of real estate developers said the NRI traffic is coming primarily from the UAE, U.S., Singapore, Australia, UK, Canada and South Africa. This year, the demand is more for the high-end property and commercial buildings.
Releasing the paper, Mr. D S Rawat, Secretary General ASSOCHAM said, “With the revival in global economy especially in the United States and Europe people are more optimistic and looking for property to invest in. The both small and big developers are focusing the NRI base in the US, UK and Asia Pacific Region this year.
As per the findings, the share of NRI sales are currently at approximately 18 per cent and are likely to increase by 30-35% in the coming year, adds the ASSOCHAM paper.
