Indian Property Market: Huge, yet affordable

Indian Property Market: Huge, yet affordable
Indian Property Market: Huge, yet affordable

The growth of the Indian economy is one of the fastest all over the world, having huge influence on the real estate sector of India.Investments in real estate last year jumped more than two-fold to about $5 billion compared to 2.1 billion in 2013; this was the highest investment levels reached in the last five years which helped India feature amongst the top 20 highest priority investment markets in 2014.The Indian Property Market is huge and yet affordable compared to international investment destinations. Capital appreciation on real estate in India is far higher than high-yielding deposits for non-resident Indians (NRIs).However, when it comes to real estate investment in India, only NRIs and PIO card holders are allowed to purchase a property. Foreign nationals are not permitted to purchase a property in India. The Reserve Bank of India (RBI) rules state that a Person of Indian Origin (PIO) or an NRI is free to purchase any residential or commercial property in any part of India which does not require any specific permission from any authority.NRI property buyers′ investment is expected to surge by 35 per cent against 18 per cent in the last fiscal year as NRIs feel confident about the new government of India led by Narendra Modi and await a more investment-friendly market across various fields.Looking at the surge of interest, exhibitions such as the India Property Show in various locations around the world are a great way to reach out to the NRI audience. The exhibitors are all present in one location means you can consult every company you wish to speak to in just one or two days, saving valuable time, money and hassle of travelling to different locations.Property exhibitions help increase recent mass awareness of property markets, conveniently offering a full scope of information from real estate professionals, all under one roof.In terms of the most preferred cities in India at the moment - Mumbai, Bengaluru, Pune, New Delhi, Ahmedabad and Hyderabad are among the most attractive in terms of investment.Some of the upcoming regions include Nodia & Greater Noida, Thane, Navi Mumbai, Whitefield in Bangalore, southern suburbs of Chennai and Kolkata. The above article was published in India Inc′s print edition of the India Investment Journal launched in April 2015 in conjunction with the Global Wealth Management Conclave 2015.

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