NBR Developers
  • more-arrow-down
    • Please wait while loading other cities loading...

Sliding Rupee More NRIs consider investing in Indian properties

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
The continuous slide of the rupee against the US dollar may be a cause of concern for many, but has led to NRIs considering investing in real estate back home. Industry observers said there has been a marked rise in the number of inquiries from NRIs and international investors in the last six months, during which the rupee has declined over 10% against the dollar. Realty developers and observers told TOI that the trend is more noticeable in the commercial real estate sector, which is suffering from weak interest andhigh vacancy for the last many quarters. Though the US dollar has hardened against many other currencies, NRI investors are more inclined towards India, albeit partly, due to the emotional bond with the country. The interest is primarily rooted in the fact that they would be shelling out fewer dollars to acquire properties than they would have last year, experts said. The current interest in real estate is only reflective of an established trend, just that it has picked up. According to Reserve Bank of India (RBI), the net NRI remittances into India are rising with the current fiscal registering a record net inflow of over US $12 billion, almost double the remittances of US $7 billion witnessed in the last financial year. About 40% of these inflows have gone in the real estate sector, the RBI has said. Rohit Gera, vice-president of Credai Pune Metro and director of Gera Development, said, "Properties are cheaper than they were a year ago in terms of dollars. We have already seen a spurt in inquiries from NRIs over the last seven to ten days." Ashutosh Limaye, head of research real estate investor services at realty advisory firm Jones Lang LaSalle India, said, "The Indian rupee has seen 12% depreciation against the US dollar since May 2013. This has led to a decrease in its value against all the other currencies pegged to the US dollar." Limaye added that according to a recent survey conducted by Sumansa Exhibitions, NRIs place a higher intrinsic value on property owned in India over the ones owned in other countries.
While global investors such as foreign private equity (PE) investors are shying from investing in India and waiting for the rupee to stabilize, NRIs have been thinking otherwise, say realtors. "The depreciation of rupee has eroded the exceptional gains made by foreign PE funds in the last few months. Hence, short to medium term interests from several foreign PE funds may be subdued in view of the current economic performance," said Neeraj Bansal, partner at business consulting firm KPMG in India. "However, there is no shortage of funding for grade 'A' projects with promoters having strong track records. The fall in rupee is being cheered by NRIs who are now in a better position to invest in properties in India," he said. "As the rupee continues to fall, the IT/ITeS sector, which is among the largest occupier of commercial real estate (SEZs and office space) in India, is expected to witness a strong growth. This may result in increase in offtake of commercial office space," Bansal said. Anuj Bhandari, secretary, Credai Pune Metro, said around 20% more NRIs as compared to the last couple of years inquired about residential schemes. This may result in 7-8% increase in the purchases by NRIs, he added.
Source: Economic Times

Property Listings

Apartments, Flats and Property for Sale in Pune

Sep 06, 2018
A spacious 3.5 BHK flat with its own private terrace accesible from 2 of the 3 bedrooms. 3 Bathrooms with two of them ensuite to the bedrooms...
Sep 04, 2018
A luxurious 2.5 BHK flat for sale in very lush green society in mahindra antheia. its a very good project with all..
Jul 28, 2018
SwapnaGanga offering comforting 2BHK Ready possession homes , strategically located at Undri Pisoli Road. Just 1km away from renowned..
Jul 11, 2018
Flat to sell 33 lakh 1 bhk 600 sq ft 3th floor A10 wing flat no 313 24/7 water & no lift building name Galaxy 1 Galaxy Sr. No..
Jun 20, 2018
1 BHK FLAT FOR SALE 565 sqft in chakan chowk newly with all inclusive, 5 acres land with all..
May 31, 2018
THe 3 BHK flat is situated in a cosmopolitan society having modern amenities like well maintained swimming pool, gym, etc. THe property is on the..
May 10, 2018
1 BHK & 2 BHK Flats Available In Booking Near Daulat Lawns Bhugaon In Affordable Prices.Mentioned Price Of The Flat Is Inclusive Of All..
May 07, 2018
This one is a 3 bed room apartment situated in Zircon, Viman Nagar Central. The Home has 3 furnished bathroom and also has 3 balconies. In front..
May 06, 2018
The Price of this Unit is kept at 1. 10 Cr. It lies on first floor of the 7 floors and is also spacious enough for a family. The Unit features 3..

Apartments, Flats and Property for Rent in Pune

Apr 29, 2018
2 BHK For Rent @ Main Sai Chowk (Indian Nationals Only) Independent Flat approximately 893 Sq Ft with Attached Toilet Bath Room with GEYSER..
Mar 31, 2018
2bhk semifurnished flat with attached bath balcony covered car parking on main road near lullanagar..
Mar 09, 2018
Your Flat is ready to move in, with both drinking and using water coming in the flat, storage tank also available, safety door, shaded plenty of 2..
Feb 14, 2018
Dnyanesha residancy apartment is totally new amazing location Also near hospital , English medium school &MIT COLLEGE, BUS..
Feb 14, 2018
Dnyanesha residancy apartment is new Also canectivity is very good near bus stop, near hospital , and MIT college & mit school English..
Feb 08, 2018
2 BHK Flat on Rent In Rahatani Pune New Possesion Available immdiate Available For Family Only.. Rent-15,000/- Deposit-50,000/- 2 Balcony 2..
Jan 03, 2018
2 BHK 850 Sq ft spacious, airy and semi furnished flat with its own covered car parking is available on rent from 1st February 2018 in Karan Ceto,..
Dec 11, 2017
Ready to move 2.5 Bhk flat in Hadapsar SILVERSTONE Apartment Its a newly Constructed Apartment located at Handewadi chowk, Hadapsar. Its a..
May 09, 2017
2bhk, 1200sq.ft with CCP, 2nd floor with lift, Rent 14K & Deposit..
Apr 25, 2017
FULLY FURNISHED wardrobes, fridge a/c cots sofa washing maching..