‘India’ has her own versatility. From culture to food, from high mountain ranges to vast seas; India has them all. Here you can find all kinds of useful Commodities for all kinds of people. Here you can get vadapau for 25 rupees, also a buffet offer in 5 star multi cuisines. India has it all. India’s success has reached beyond expectations and she is consistently transforming herself from a developing country to developed country. Post Independence India has achieved progress in different sectors, such as Agriculture, Technology, Science etc. One of them is Real Estate.
Real estate has reached its peak level in last 20 years. In last fifteen years real estate of India has emerged as one of the pillars of India’s economy and it is expected to grow from USD 14 Billion(Current) to USD 102 Billion in next ten years!!
Rise of Housing requirements
Real estate is becoming a noticeable subject for many of the NRIs (Non Residential Indians) round the globe. Otherwise 19% of the total real estate deals in India are by NRIs only!!! They are investing in the cities like Bangalore, Ahmedabad, Pune, Chennai, Goa etc. These places are becoming preferred destinations for NRIs every day. For last few years the requirements for the residential real estate has taken an upturn because of:
From 7.0% GDP to 7.6% GDP, India has taken a huge leap in the matter of GDP. This has become possible due to improvement in agriculture sector, Industry sector and the services sector. Real estate is also playing a pivotal role in the growth of GDP.
In today’s scenario, due to growth of GDP, the net income of each family has increased. Most of the family members are now earning and because of that they can surely afford upcoming low cost flats.
Nowadays Joint families are turning into nuclear families and creating an increasing requirement of the residential flats.
Because of the recent infrastructure tag, real estate builders can now get loans at 12 percent instead of 18 percent. This is the reason they are concentrating on low cost housing.
After demonization, most of the surplus money is credited in the bank which is now can be invested. And what will be the better investment than real estate in the present scenario?
Positive Indications from Indian Govt.
If we consider the Foreign Exchange Management Act and PM Modi’s ‘Make in India’ Initiative, we can clearly say that if the Non Resident Indians invest today in real estate sector, they will get a flourished outcome in the near future.
Let’s see how the Foreign Exchange Management Act will help the Non Residential Indians:
It says –
As per Foreign Exchange act,an Indian citizen who is a resident outside India popularly known as Non-Resident Indian has the permission for the following activities with reference to acquisition and transfer of immovable property in India :-
But before investing in real estate in India, NRI should consider their strategy that how they are going to profit after investing.
If they buy a property and wait for future for selling it to make more money, there is a specific strategy for that.
Likewise, if they want to buy a property and give it for rent for monthly profit, there is another strategy for that.
Make in India Initiative, taken by Prime Minister Mr. Narendra Modi not only attracts cheers from domestic investors, but also from foreign investors. Because of this, India has become one of the sought after destinations for FDI (Foreign Direct Investment).
Under the observation of PMO, two initiatives also declared their arrival.
These two are
A) Smart Cities Mission
B) Real estate Act, 2016.
Declared by PM of India in 2015, which officially came on May 2016. The government announced 33 Smart cities and 12 Fast track Smart cities, which will attract a great exposure of developing India and it will draw job opportunities as well.
The core infrastructure elements in a smart city would include:
2. Assured electricity supply,
3. Sanitation, including solid waste management,
4. Efficient urban mobility and public transport,
5. Affordable housing, especially for the poor,
6. Robust IT connectivity and digitalization,
7. Good governance, especially e-Governance and citizen participation,
8. Sustainable environment,
9. Safety and security of citizens, particularly women, children and the elderly, and
10. Health and education
Announced in Rajya Sabha, 10th March, 2016 is an initiative to protect the buyer’s interest. The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques. The builders also have to quote prices based on carpet area and not super built-up area.
Still in doubt why as an NRI you should invest in real estate in India??
Why invest in India??
Why should one invest in real estate in INDIA? There are so many answers, like we have stated few of them above. But if you seek answers based on need analysis, we are trying to provide you some. May be all of them does not describe your position. May be your reasons even are not listed. But if you relate to any of them, then you should seriously plan your real estate investment in India.
If you have any of these reasons or the ones we missed out then you should definitely invest in India. The price range for a property is anything between $60,000 to $ 2, 50,000. This range is for good developers in Tier 1 & Tier 2 cities. The price also gives you the appreciation possible over a period of time.
Despite of any other logical factors there is a single factor which lures every Indian living even in farthest corner of the globe:
INDIA is ‘INDIA’
This might be the most important and significant cause why NRIs should invest in India.
There is no denying that INDIA is ‘INDIA’. There is no other country like India. After hearing the phrase ‘Unity in Diversity’, the first word that comes to my mind is ‘INDIA’. No other but India. You just cannot get so much love, so much affection in any other countries. We know our India is INCREDIBLE INDIA and Indian brothers and sisters who live outside also know that. Your motherland is calling you.
Who does not love his home?? Every non residential Indians have settled outside of India because of Job purpose or any other purposes. But you all do miss your motherland. Many of you have the dream to settle again in India after your retirement. There are so many trustworthy and World – known developers in India on whom you can trust.
Star Developers in India: Let us have a quick look on the “A” class developers in India and few of their projects:
Godrej Properties is one of the leading real estate development companies in India and is based in Mumbai, Maharashtra. They have real estate development projects in 12 cities in India, which are at various stages of development. Currently, their business focuses on residential, commercial and township developments.
Various projects by Godrej
Godrej Properties are always associated with innovations. Check their new proud launching at South of Noida.
Godrej Aria – ‘Aria’ means air in Italian, aptly describes, with the words – “luxury homes with freshness of air” located at Sector 79 Gurgaon. The project’s USP is that it sets a new standard in the residential field of Delhi NCR. Spread over 7.1 acres of land parcel & comprising of luxury apartments, its vast built space and acres of undulating greenery has been designed to mesmerize and fascinate. One can choose from 2 BHK, 2.5 BHK, 3 BHK, and 3.5 BHK options.
Spread over 250 acres of land, Godrej garden city proposes to house over 13000 apartment and villas, 40 acres of scenic landscaping and vast commercial spaces. The master plan has been created by world-renowned architects, Skid more, Owing and Merrill (SOM), who have been designed numerous land mark projects across the globe.
The project falls within Ahmadabad Municipal Corporation (AMC) limits and is easily accessible from any part of the city. As Ahmadabad’s first self-sufficient township, Godrej Garden City offers you the best facilities, all within walking distance from your home. The development is planned to accommodate a police station, fire station, world-class education institutions, hospitals, clinics and luxurious hotels. There is also ample space for lifestyle facilities like malls, food courts and entertainment centres.
There are other properties by class ‘A’ are available all around the country. Find them here