NRIs are showing keen interest in buying and investing in real estate properties in India. They want to make the best use of their hefty remittances. Bangalore is one of the city in which the NRIs shows interest in investing and buying properties. Due to IT establishments, cosmopolitan lifestyle and culture, Bangalore has become the preferred destination for NRIs for return on investment in terms of appreciation and rental values. However, NRIs are often confused where to buy and which type of property is best to invest in. NRIs are interested in investing in gated communities with all amenities, with large rooms, huge windows and luxury fittings and servant quarters. Plots are also a good investment for NRI.
According to Fahim Saleem of Property Excel Advisors, “The demand is specifically coming from European countries, America, Dubai and other middle-east countries. From European countries, the buyers are IT professionals who want to create safety zones for themselves if they ever have to return or re-locate to India. The NRIs from these countries buy residential space in and around areas such as Hosur Road, Whitefield, Sarjapur Road, Yelahanka, or around Hebbal due its close proximity to IT hub in Bangalore, good schools and social infrastructure”. He also added, “There has been a steady increase of 25-30% in demand from NRIs across Bangalore. NRIs mainly lookout for premium properties worth over Rs 1 crore such as high-end apartments, villas etc”.
“As a long-term investment option, NRIs should look into apartments as that will also fetch you more returns in the long-term. You can look at Eastern Bangalore for villas and northern Bangalore for apartments,” says Omar Sheriff, Director, Skylark Mansions Pvt Ltd.
According to Ravindra Pai, MD, Century Real Estate Holdings Pvt Ltd, “The maintenance and renting would be easier for apartments than plots”. “NRI also look for plots and villa as the potential for appreciation is high in plotted development and there is no maintenance required. It also gives you more flexibility.
Source: The Times of India, Bangalore