Despite the current slowdown in the Indian economy, the Non Resident
Indian is investing in various sectors, including real estate. Several
real estate projects across India have garnered approximately 10-20%
participation from NRIs.
The return on NRI investment provided by Indian real estate has been
found to be more attractive than that offered by developed nations.
Also the simplified process of investment has reversed the equation
and many NRIs have been consistently investing in properties.
Rajesh Goenka, chairman and CEO, Axiom Estates, the international property
consultants who have several active NRI clients says, "They are
the most affluent lot among real estate buyers in India, showing interest
in buying large chunks of land in their home country. They are not affected
by the current slowdown, as they take a long-range view of the whole
scenario. They have faith in the Indian economy, and firmly believe
that the prices will appreciate by at least 10 to 15 per cent every
year. They see the downturn as an opportunity to invest in large chunks
of land or even developed areas which they get at a good discount from
even the top developers."