The Indian real estate market is expected to grow at a healthy pace in the future. As the population grows and incomes rise, demand for real estate is expected to increase…reports Asian Lite News
India is fast becoming the preferred real estate investment destination for GCC-based NRIs. This is largely due to the country’s booming economy, growing population, and relaxed foreign investment policies. Additionally, the Indian government has implemented various initiatives to make it easier for NRIs to purchase property in India. These include providing tax breaks and offering special financing options for real estate purchases. Furthermore, the Indian real estate market offers attractive returns and potential for capital appreciation, making it a lucrative investment opportunity for GCC-based NRIs. With the Indian real estate sector showing immense potential, GCC-based NRIs are increasingly looking to India for their real estate investments.
WHAT IS DRIVING GCC-BASED NRIS TO INVEST IN INDIAN REAL ESTATE?
The Indian real estate market has seen tremendous growth in the last few years, due in part to strong economic growth, rising disposable income levels, and a growing population. Also, the real estate market in India is highly attractive, with high returns and a long-term investment perspective. Moreover, the Indian real estate sector is experiencing a healthy level of foreign interest, which creates a great deal of interest among GCC-based NRIs. Though the demand for real estate in the country is relatively high, the supply of real estate is also increasing at a healthy pace, pushing up prices. This is expected to further increase the appeal of real estate as an investment option for GCC-based NRIs.
What are the benefits of investing in Indian real estate for GCC-based NRIs?
Real estate investments in India are highly lucrative. Various studies have found that, over a period of 10 years, an average real estate investment in India could generate a return of 15% per annum. Moreover, the investment can yield a positive profit even after 15 years, making it a great long-term investment option. Real estate investments in India can also offer significant tax benefits.
Sharing insights Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, one India’s largest listed real estate developer said shared “In the past two years, we’ve witnessed a rise in the number of NRIs looking to own a home back in India and the pent-up demand has begun to come to the fore. With the appreciation in the property prices, they have historically received and will continue to expect a handsome return on their investment. Due to a strong emotional bond, many Indians living in GCC countries are investing in their homeland as an option to come back and settle down in the future, but most of them are also buying homes purely as an investment option. Factors like a simplified taxation regime and indexation benefit for properties held in India encourage NRI buyers to park their surplus money in India.”
The Indian government’s initiatives to make it easier for NRIs to purchase property in India
The Indian government has implemented various initiatives to make it easier for NRIs to purchase property in India. For instance, the government has made it easier for NRIs to get a real estate investment license, introduce a negative equity facility for real estate purchases, and provide interest-free loans for self-financing real estate transactions. These initiatives have increased the ease of doing business in the real estate sector and made it more attractive for NRIs. Moreover, there are a number of real estate companies that provide services such as property financing, tax consultancy, etc., for NRIs and expatriates, making it easier for you to invest in Indian real estate.
The potential of the Indian real estate market
The Indian real estate market is expected to grow at a healthy pace in the future. As the population grows and incomes rise, demand for real estate is expected to increase. This will further increase the demand and raise the prices of real estate. Moreover, the Indian government is increasingly turning its focus to improving urban infrastructure, realising the importance of housing for urban development. This, coupled with favourable tax laws, is expected to positively influence the real estate market in India in the future.
The growing interest in real estate among GCC-based NRIs is attracting significant attention from the Indian real estate sector. With rising incomes, growing population, and favourable policies, the Indian real estate market is expected to grow rapidly in the future. This growth will make the real estate sector even more attractive for investors, resulting in sustained appreciation in prices. Real estate investments in India can be highly profitable and provide significant tax benefits for NRIs looking to invest abroad.