What Makes Bangalore Real Estate a Great Investment Option for NRIs?
Key policy reforms are increasingly being implemented in the Indian realty sector to reduce instabilities and established overall accountability in this sector. This step has resulted in the recent growth of Nonresidential Indians’ (NRIs’) perpetual interest to invest in Indian real estate.
What Lures NRI Realty Investors to Invest in Indian Realty Sector?
While Indian real estate has been one of the top investment choices for NRIs, here are some of the top factors that are luring NRI investments in real estate like never before:
- Stable real estate market
- Higher value for your investment
- Increased transparency
- Hassle-free rental incomes
- Higher returns on investments
- Premium lifestyle amenities
- Easy access to social infrastructure
- Premium homes by reputed builders
Majority of the migrants in affluent countries are Indians, making India one of the top nations receiving highest remittances in the world. This shows that even though most Indians move to prosperous countries, they are continuously making real estate investments in their home land. Today, increasing NRI investments in commercial and plotted projects are a testament of the attachment they have towards their motherland. Moreover, attractive exchange rates are further favoring NRI funding in India.
Bangalore – The Fastest Emerging Real Estate Hub of India
Quickly overtaking top cities like Mumbai and Delhi, Bangalore is now becoming the new hub for real estate investment in India. Being diverse, Bangalore attracts varied resident profiles and has emerged as one of the fastest booming metropolises. Holding 40% share of the Indian IT sector, Bangalore is the nucleus of the nation’s IT industry.
However, here are some of the major factors that make Bangalore one of the most sought after real estate investment choice for NRIs.
1. Favorable Government Policies
Over the past few years, the changing government policies are favoring NRI investments in Bangalore real estate. One such example is non-repatriable investments made by NRIs are now being considered as domestic investments.
2. Simplified Home Loan Facilities
Today, NRIs can easily get home loans to invest in properties. Furthermore, RBI has waved off some regulations and has provided general permission to NRIs for investing in residential properties. So, NRIs can acquire some immovable properties without waiting for specific permission from the RBI.
3. No Constraint on Quantity
While the good news is NRIs can make investments in residential and commercial properties without acquiring specific permission from the RBI, there is definitely more to it. Refined regulations do not restrict the number of commercial or residential assets an NRI can purchase.
4. Real Estate Regulatory Act (RERA) Approved Projects
Project delivery and builder reputation have always been a concern for NRI investors. However, the RERA approved projects have doubled the interest of NRI investors in Bangalore real estate. RERA approval safeguards investors from real estate frauds and scams.
NRIs settled abroad mostly long for a home back in their motherland. Whether to just keep their cultural roots alive or as an investment, lucrative Indian market has significantly attracted NRI investors. With premium apartments and RERA approved projects, South Bangalore has been a great investment hub. Considering the current market conditions coupled with the introduction of RERA approval, Bangalore real estate has become well-organized, transparent and more competent.