'Rupee aids NRIs buy properties in India'
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The trend is to invest in additional property in metro cities and enjoy the capital appreciation in 4-5 years time, he added.
A representative of Indiabulls said with rupee depreciating in the past couple of years, there has been a good amount of remittance going back to India.
Additionally, the bank deposits have also started yielding good returns making that as a good investment alternative.
"However properties continue to be a preferred choice for expat Indians for investment and asset creation. What they look for is a good brand to invest and a price point which is good to enter. For NRIs, a reputed developer with good track
record, quality and possible price appreciation is an important factor," he said.
Sunil D'Costa, Manager (International Sales) Sahara Prime City, Sahara Group's real estate division, said: "Property investments in India are believed to be the smartest move as chances of loss are negligible. The growth graph of the real estate sector is observed to be escalating day by day".
Rupee depreciation against the dollar is a great attraction for NRI's to invest back home so if you keep a horizon of 2-3 years, an average return of 25-30 per cent is guaranteed, he added.
"In terms of location, other than metropolitans and Tier-1 cities, momentum of investment in Tier-2 and Tier-3 cities is quite high, plus the rate of appreciation is much more due to fast paced infrastructural developments," he added.
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