NRI Real Estate and Property Investment in India
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Citibank Provides Attractive Opportunity to UAE NRIs
Wednesday, Oct 22, 2008

This upcoming weekend of 17th & 18th October will have the reputed real estate developers from India coming together under one roof with Citibank offering attractive options for availing home loans to purchase properties.

NRI community in UAE has shown keen interest for properties in India and this event will provide an attractive opportunity for Non Resident Indians (NRIs) in the entire UAE to look at a variety of home options in various cities across India under one roof and select their 'Home Back Home'. The IndiaHome exhibition is being held at Dusit Thani Hotel on Sheikh Zayed Road with participation from the most reputed Indian developers like DLF, Unitech Ltd, Emaar MGF, Jaypee Greens, Hiranandani Constructions, Mahindra Life Spaces , GERA Developers,,Rohan Developers, Kumar Developers,Ekta World, ETA Star, Keppel and Hirco. These developers have residential, commercial and retail projects planned or under execution across various towns and cities in India. The exhibition offers a wide range of property options ranging from INR40 lacs (approx Dhs370000) to INR10 crores (approx Dhs9.8m). Ashish Mehrotra, Business Manager - Mortgages, Citibank, said: 'It is our continuous endeavor to provide value added offerings to NRI customers and service their need of home purchase back in India. As part of that endeavor, we are getting the best in class real estate developers from India to their doorstep this weekend.'

Mehrotra added, 'The developers will provide them with large range of property options suited to wide range of budgets bundled with some very attractive schemes for purchase during this period. This will be supplemented by on-the-spot loan pre-approval and guidance by Citibank mortgage counselors to facilitate the purchase of their dream home in India.'

'The NRI clients can get loans ranging from Rs 15 lacs to upto Rs 5 crores for ready to move and under construction properties. Loans will also be provided for built-up commercial properties across Metro cities in India. The loans can be taken under flexible repayment schemes with construction linked plans or down payment plan and the EMI payments can be done through the convenient Citibank NRE/NRO account which comes with a host of superior banking features,' added Mehrotra.

Vipul Kapur, Global Sales Director, Citibank NRI, said: 'Buying a home is not just an investment; it is an emotional commitment, especially for NRIs. Citibank has rich experience and established presence in the Indian home loans market. To cater to the needs of our NRI customers, we have been offering a dedicated Home Loan programme since 1997. Through our NRI Home Loan Program, we cater to customers based in USA, Canada, Singapore, UAE, Kuwait and Bahrain.'

With over two decades of success, the Citibank NRI Business functions from over 64 centers across the globe. Managing assets worth over $8bn, the Business has been a pioneer in NRI banking, serving as a model for other Indian banks targeting NRIs. The business has four regional hubs in New York, London, Dubai and Singapore. Its comprehensive wealth management services provide specialized solutions through the personalized attention of expert relationship managers.



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