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Real Estate - Opportunity for NRIs
India has witnessed a stupendous growth in the real estate sector in the recent times. The Indian real estate industry is being valued around billion and is expected to grow at 25 percent annually. India has definitely become a destination of opportunities for real estate investments. With the expansion of industries and increase in employment opportunities in the cities and nearby areas the demand for commercial as well as residential properties is on the rise. Development of properties is also happening at a rapid pace to meet the requirements. The Indian government has also played a major role in supporting the growth of realty sector by allowing Foreign Direct Investment (FDI) in real estate. With a good return on investment, real estate sector has become the preferred choice for investors. More lucrative avenues are being opened to invite investments form abroad. The Foreign Exchange Management Act (FEMA) has relaxed and modified their regulations to attract more investments in real estate from NRIs. The NRIs are also showing keen interest in real estate market of India. They are investing a lot in residential and commercial properties. The NRIs are also allowed to make huge investment in construction of residential and commercial premises, development of townships at city and regional level, constructing infrastructure facilities like roads and bridges in urban areas and investment in participatory ventures. The NRI equities are also attracting as a way of participation for NRIs/ Overseas investors with some other company in India. Online banking in India and special accounts for NRIs has facilitated transactions for any kind of investment in India. One of the biggest factors which have promoted the investment in the real estate is the easy finance provided by banks and financial institutions to acquire properties. This finance is available for all kinds of properties including residential, commercial, and industrial. Finance facility can be availed by salaried individuals, self-employed individuals, partnerships and even NRIs depending upon the eligibility and completion of documents. NRIs can repay their loan by way of normal banking channels or through their NRE/NRO bank account. The huge amount of investment being done by NRIs is a good sign for the Indian real estate market. It has boosted the overall development in the real estate industry and has made India an investment hub. About the Author: About Author- Amitabh Kumar, a writer by profession has been part of content research team of magazines, journal dealing with NRI, non resident Indian news, stories, and issues. Presently he is content writer in NRI News based website emphasizing on NRI News, property investment scenario in India.
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