NRIs (Non-resident Indians) contribute significantly to Indian forex through investments in multiple Indian asset classes and other remittances. Real estate investments form a significant portion of these asset classes that lure NRIs and rewards them back with high returns. The depreciating rupee exchange value, favorable political situation and right policy initiatives are attracting more investors than ever to invest in Indian real estate.
NRIs generally buy properties in India owing to their emotional connection with their home country. Moreover, if they plan to settle back home on retirement, having their own space can be an excellent option. Keeping these elements in mind, there have been vital policy transformations such as REIT (Real Estate Investment Trust), PMAY (Pradhan Mantri Awas Yojana) affordable housing, RERA (Real Estate Regulatory Authority) and GST (Goods and Services Tax) that have positively affected the realty sector. Experts believe this can attract more foreign investment with simplified rules for NRI investments.
Bangalore is an attractive destination for NRIs, offering several investment options such as villas, residential flats, and commercial flats. is a luxurious township spanning over an area of 20 acres and offering spacious apartments keeping modern lifestyle in mind.
If you are an NRI looking to purchase a property in Bangalore, here are reasons why it is the best time to invest now:
Earlier, residential homes were the primary attractions for NRI buyers but now the trend seems to be changing. They are keeping long-term investment in mind. IT buildings, malls, and warehouse centers are increasingly gaining demand as many NRIs are buying commercial flats to give them on lease and earn income from it. Additionally, REIT ensures easy entry and exit for NRI investors with transparency.
Discounts for NRIs
Several benefits are offered to NRI investors, both in commercial and residential segments. Incentives in the form of discounts and low residential prices attract NRI buyers to purchase properties in India without any delays. In addition to this, many developers who want to clear unsold inventory or under-construction inventory are also offering great prices to NRIs.
REIT attracts investments
Commercial hubs are registering tremendous demand across the nation. The FDI (Foreign Direct Investment) policies are also working in favor of NRIs, boosting investor sentiment in Indian real estate. Earlier, REIT regulations required the holding of at least two projects, which is now diluted to one project. Also, there is an added benefit to investing in real estate without going through the hassle of buying and maintaining properties.
Easy availability of home loans
, and buying a property to invest in can be very expensive, requiring anywhere from lakhs to crores of rupees. Fortunately, it is easier these days to secure funding for property purchase, than it used to be. Lenders like Bajaj Finserv Homes & Loans offer up to Rs.3.5 crore, at nominal interest rates. These home loans come with added features like long repayment tenors up to 20 years, property search services, and more. In addition, before you even apply for the home loan, you can know your home loan eligibility and likely EMI amount with a few clicks of an online calculator. This, and pre-approved offers and online processing have made home loans an easy and attractive financing option for NRIs looking to invest in properties like Provident Park Square in Bangalore.
Real estate developers in India are offering flexible payments and discounts to NRI homebuyers to encourage more foreign investments. From organizing events to finding tenants and setting up foreign offices, developers are playing a massive role in making the Indian real estate market lucrative. Moreover, regulatory changes like the implementation of RERA and GST have resulted in a more transparent, equitable and accountable market. Experts believe it to be an excellent time to invest in the Indian real estate sector. Overall investments are predicted to cross the $10 billion mark by 2020.
Bangalore is one of the leading cities where the demand for residential and commercial flats is on the rise as it offers advanced infrastructure and excellent growth prospects. The IT hub, pleasant climate, and surrounding greenery are key features inviting more newcomers to the city. Many premium housing projects are developing in Bangalore to cater to the increased demand for good living spaces. Provident Park Square is an excellent housing project offering exquisitely designed 1 BHK, 2 BHK, and . The township offers myriad amenities ranging from landscaped garden, spa, restaurant, yoga deck, and gymnasium to shopping centers, kids play area and sports courts. Its strategic location is a huge plus for home buyers providing them with easy access to primary locations of the city.
If you need financial assistance for purchasing flats for sale in Bangalore, you can avail NRI home loan from Bajaj Finserv Homes and Loans that offer home loans up to Rs. 3.5 crores on easy EMIs.