NRI Real Estate and Property Investment in India
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NRIs eyeing Chandigarh
Tuesday, September 16, 2008

The Chandigarh real estate market is booming. One of the most prominent factors contributing to the real estate growth is the NRI investments pouring in the city. There are a large number of well-heeled Punjabi NRIs who are pumping huge funds into Chandigarh property market. Considering this, all the major real estate builders are largely launching premium residential projects in the city.

The property prices in the city are also not as high as in the metros, yet the city offers an equivalent amount of rental returns, in case the buyer wishes to rent out the property. With property market shaking in almost all the parts of the country Chandigarh still offers opportunities to investors and end-users by way of varied residential and commercial realty projects. Also, government of Chandigarh is bringing down the stamp duty charges in the city with a view to encourage more investments and property transactions in the real estate segment. The move will also help in preventing cover up of market value of the property, making investment in the city more lucrative for NRIs.

In recent times, there have been many real estate developments and investments in Chandigarh that took place on in the suburban areas like Panchkula, Mohali, Zirakpur, and Dera Bassi. The biggest and the most prominent real estate developers of India like Ansals, DLF, and Unitech etc have their project plans for Chandigarh real estate. Chandigarh has therefore become a favourite investment destination for the Non-Resident Indian (NRI) buyers. Some of the projects targeting NRIs are Parsvnath's Prideasia, Omaxe Greens and Royal Residency.

 

 

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