By Accommodation Times News Services
Currently the presence of Non-Residential Indians (NRIs) is subsequently increasing in the Indian real estate sector. As Indian realty sector is attracting NRIs to invest in Indian market. As investments from Indian buyers are decreasing, developers and banks are targeting NRIs to invest or buy in Indian market. This can be said looking at the current scenario where many banks are introducing special home loan schemes for NRIs to buy home in India. Recently, Canara Bank and ICICI Bank two top banks of India has launched special housing schemes for NRIs. Canara bank is offering low interest rates, whereas ICICI is offering additional benefits on home loans to facilitate the NRIs.
Foreign realtors are also entering Indian realty market to grab the opportunity to facilitate NRI buyers with luxury housing units and gain huge profits. Singapore based realtors Raffles Residency is launching it’s first project in India in Bangalore targeting NRIs. Mumbai-based Omkar Realtors & Developers in partnership with Fosters Plus Partners London based architects and designers, has launched a luxury project in Mumbai for NRIs buyers.
Since, May when the value of rupee depreciated against dollars NRIs are emerging in this sector, in last six months the sector has witnessed about 15-20 per cent increase in buying properties in India. Still the percentage is expected to increase, as they are presuming great investment opportunities in the country. NRIs from U.K., U.S.A, Hong Kong, Singapore, Dubai, etc. are showing keen interest.