Following rising sentiment in India’s economic growth, NRIs are increasingly investing in real estate with the trend showing bulk property purchases anticipating realty revival.
Bulk purchases are due to offers of discounts, payment flexibility, concessional registration fees and anticipation of a revival in the market, reports said.
Property markets in Bangalore, Ahmedabad and outskirts of Mumbai, including Ambernath and Navi Mumbai, are generating good interest among buyers in the UAE, Singapore, the US and Canada.
A recent Assocham survey has showed Indian property developers are anticipating a 35 per cent rise in inquiries from NRI buyers against last year’s about 18 per cent.
“NRIs feel confident about the new government in India and are waiting for an investment-friendly market in various fields,” the study added.
With the announcement of 100 Smart Cities, hassle-free airports across tier-II cities to improve connectivity, etc., the realty market is bouncing well.