Reasons Why NRIs Look At India for Real Estate Investment Options

The economy of India with the new government’s initiatives is seeing marked improvement. NRI’s from across the globe are now looking at the real-estate opportunities here as a great investment, simply because there is ‘cash value of the property’, which would rise as the time passes by.

Here, therefore, are a few reasons why best property sites in India are looked thoroughly with investment affection and glee. Hence please read on and be well-informed for the same.

Opportunity to invest
The real estate world in India is a large ocean of opportunities, especially for NRIs living abroad. Sources say that around 30 million NRI’s across one hundred and forty countries have a combined wealth of around $1.2 trillion. The spending power and investment prowess of NRI’s are seen as the highest, especially noticed from 2011-2013 at the foreign exchange levels.

Currency value drop
While NRIs earn foreign currency, they can convert and invest the same back in India, in rupees. When there is a drop in the currency value, it makes investing easier for them, say financial experts. The depreciation value of the rupee back then was an opportunity for many NRIs to invest in the real estate options India could provide. Most residential properties India bought by NRIs gave the investors high returns in the bargain.

Are there risks?
Real estate experts say, projects still ‘under-construction’ have high risk values for those who want to invest in ‘residential properties’ across the country. Delays and political upheavals, court cases and litigation etc, can often go beyond the grips of the project developer. Policy changes or raw material unavailability too have been cited as a reason for delays. However, an NRI investor, thinking of buying a house in India, expects a level of trust.

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Property Rates in Mumbai Will Continue to Rise in Future as Well

Being the city of dreams and the financial capital of India, Mumbai was always in demand compared to the other cities in India. As millions of people migrate to the city every year to fulfill their dreams, there has been a steady growth in property rates in Mumbai. While the prices of properties are steadily increasing, there is a lack in supply of land even though the demand is high. The acute land shortage has made many building developers and home sellers quote an enormous amount for their assets.

Recently, a 25 acre land in Mumbai suburbs was sold at Rs. 1,155 crore in an auction. This is not the first time a piece of land has been sold at an astronomical price. In the year 2010, a six acre plot in Wadala was sold at Rs. 4,000 crore in an auction. This was a record setting real-estate bid on a national level. The land was purchased by a premium real estate developer to extend the list of their upcoming projects in Mumbai. While on one end there is a rise in luxury apartments, one can witness a majority of people living in shanties and other illegal settlements. This is because, they cannot afford to pay the high rents demanded by the landlords.

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Check The Builder's Reputation Before Buying A Property In India

Many assume that doing a background check on real estate projects and developers is difficult, as it requires some real-estate knowledge. However the truth is that you just need the time and patience to research. A quick internet search will provide insights on the company and the project developer. The customer forum is also a good source to get the required details. Though online research may seem sufficient, it is always better to go in for a field research, as it helps gather accurate details of a property. Talking to other buyers and local brokers also helps in understanding the property rates in Mumbai and estimating the potential growth rate of the asset in terms of pricing.

It is always safe to choose an experienced builder than a newbie, as they are more likely to follow the rules and regulations, and have a professional approach towards dealing with properties for sale. Reputed builders are often a part of industry associations like the Builder's Association of India and Confederation of Real Estate Developers Association of India. If the builder of your desired project is a part of such an association, then you don't need to worry about fraudulent acts or mishaps, as the regulatory bodies always have a watch on the performance of their members. The builder you choose should also have an ISO 9001:2008 certificate.

There are several websites in India that provide details on upcoming projects in Mumbai and other major cities. And UmoveIndia is one of best property sites in India.

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Choose Environment Friendly Properties In Mumbai...

Many project developers understand the importance of the environment and concentrate on building homes that support the environment. However, the concept of green homes is still not well understood by most builders. Many new upcoming projects in Mumbai bear the title 'Green' and 'Eco-friendly', simply because the buildings include gardens or have green lawns. Instead of being environmental friendly, these buildings end up wasting more resources as the plants in these properties require more maintenance and water, compared to their native species. To confer the title 'Green building' or 'Eco-friendly homes', the developers have to follow several parameters that begin from the first day of site planning and construction.

The design of the building itself should be environment friendly. Built from toxic-free materials, the building should have an Eco-friendly design that optimizes the available resources, and reduces the need for conventional energy. The building should be constructed, while preserving the soil and the surrounding landscape. A water harvesting plan along with a waste water management system should be introduced. Implementation of renewable energy, water heating systems, proper ventilation, management of lighting and electricity, and other relevant features should also be introduced on new properties for sale. Only when all these measures are implemented, a building falls under the category of environment friendly.

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Find Upcoming Projects In Mumbai By Using Real Estate Search Engines

Many residential and commercial properties in India are now listed on real estate websites. Users should use the services provided by them, to make valuable investments.

With every service provider creating exclusive search engines as per their domain, real estate too plunged into operating exclusive search engines to meet growing demands of the people. Property search engines are the new method to find properties at one's convenience. Empowering people with the right resources to make informed investments, many real estate websites provide a comprehensive search facility for buying and renting commercial and residential properties, around the world. Though the idea of booking properties in India through real estate search engines is still in its infant stage, people often look up to these sites to know the recent happenings in the real estate sector, and check the market value of areas that interest them.

Apart from listing the availability of properties and related information, these sites also provide a host of other services like legal assistance, valuation, financial advice, relocation assistance, etc., that can aid consumers to make rational choices, as per their budget. One such site that lists all upcoming projects in Mumbai and across other major metropolitan cities in India, is UmoveIndia.

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What Does The BMC Have In Mind For Upcoming Projects In Mumbai

The prime civic body responsible for all public service affairs within the city, the Brihanmumbai Municipal Corporation (BMC) has finally announced that it has proposed to spend a total of Rs. 31,178 Crore in 2014, to improve the current infrastructure and other facilities of Mumbai. This amount is approximately Rs. 3,600 Crore more than the Rs. 27,578 Crore proposed in the budget for 2013. The refusal to hike tax rates and the upcoming Lok Sabha and State Assembly elections have played a major role in the budget rise. Being the highest earning municipal corporation in the country, the BMC has dedicated Rs. 2,500 Crore, for major road projects such as filling of potholes, completing stalled highways and roads, improved traffic control, reconstruction of worn out bridges and cross overs and renovation of the subways at Chhatrapati Shivaji Terminus and Churchgate railway stations.

This will result in the introduction of new commercial property in Mumbai (Southern Region), as vast majority of public will resort to visiting these stations regularly, to experience the improved infrastructure.

Here are a few of the proposals placed forth by the BMC for the year 2014:


1. Construction of exclusive Burns-free hospital and full fledged Cancer centre.
2. Rs. 2,500 Crore to improve condition of roads, will special treatment of potholes for improved traffic flow.
3. Construction and maintenance of dedicated centres to speed up water bill and tax payment along with collection of birth and death certificates. These centres will be open 12 hours a day, from 8 A.M. to 8 P.M. and also on weekends.
4. Rs. 8.5 Crore to introduce 3 mobile labs that measure and report air and noise pollution levels in the city.
5. Rs. 1 Crore for the construction of public toilets for women.

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Is Purchasing Flats In Mumbai Still Affordable?

With the reputation it holds and the over-priced demands of the sellers, buying flats in Mumbai is not very simple, especially during present times. As per the experts who monitor the real estate business, the demand for land has been growing, at a stable rate over the last four years. However, the over-priced values, especially on residential apartments has made aspiring home buyers shift their focus to neighbouring areas, which are a few meters outside Mumbai city. It is to be noted that the demand for luxury residential projects is growing at the rate of 35 percent every year, whereas the demand for regular residential homes is at 66 percent. As Thane and Navi Mumbai are located in close proximity to the city, their prices too have increased at about 70 and 74 percent respectively.

In spite of lack of clear space and its escalating value, the demand for property in Mumbai continues to be stable, since many are keen to buy a second home within the city limits. The investors bear a strong belief that the value of real estate in the city will always increase irrespective of the economy or any other significant factors. Analyzing the same, the real estate experts ensure that all of the real estate investments in the financial capital will always garner interest for its stable financial growth and demand. However, affordability will continue to be a matter of major concern for majority of the public in the city.

Article Source: EzineArticles