29 Apr INDIAN REAL ESTATE – GOOD INVESTMENT OPTION FOR NRIs DURING COVID 19 PANDEMIC
Real estate supports India’s GDP for up to 6% – 6.5 %, which is the second largest contribution after agriculture. Residential property encloses a major share of our India Real Estate Market which also includes building of commercial spaces like malls, offices etc. and hospitals.
Amidst the COVID-19 turbulence several reports highlighted the surprisingly powerful performance of Indian real estate players during the lockdown. The pandemic has positively impacted the real estate business and it has turned into a massive place of investment as an asset for NRIs. These days people from abroad are now virtually visiting the sites along with arranging online meetings with real estate developers and transferring booking amount online towards the bookings.
Real estate sector has always induced interest amongst the NRIs, but this pandemic is giving various reasons to them for investing in India for their safe future in their home country ‘India’.
Reasons why investing in Indian Real estate is a great option are
Cheaper Home Loans
Due to the lockdown, India is going through a major economic crisis the interest rates are dipping. Most of the NRIs who might be considering saving money via FDs will regret with time due to low interest rates.
Banks have significantly lowered the interest rates of savings deposits; however the new policies are introducing lower interest rates on taking Home Loans which will eventually boost NRIs to purchase a real estate property which has now become more affordable.
Depreciating Indian Rupee
Indian rupees value is depreciating as compared to dollar which is quite evident in current times. As a result of this, it is a great opportunity for NRIs to invest their savings in India real estate which will turn out as a great asset in future. The purchase will also be more affordable for them compared to the currency exchange prices in the past years.
Securing their roots
India has proven to set a benchmark for other countries in their strategy of dealing with the pandemic and other critical situations. This has brought attention of Indians settled abroad to consider resettling to their country of origin and invest in the India real estate.
Decay of other investment options
A significant fall in the value of popular investment options like gold, mutual funds and stock market lead to the shinning of Indian Real Estate market. It has become a promising option for NRIs to invest for a better return after the fallout of this dreadful pandemic.
Safe Real Estate Investment
Investing in real estate is always considered a better option for all potential investors. It has become a more viable option for investment especially in commercial spaces and luxury homes.
COVID 19 is going to put a dreadful impact on our country’s economy in almost all sectors, however the real estate is seeing a growth and demand amongst the investors due to various options available. The NRIs will get a great mix of ready to move in projects in India in all major residential real estate markets.
Government is also taking various steps and announcing various stimulus packages to boost the real estate sector. This is definitely going to add value to the real estate sector and the buyers.