As rupee falls vis-à-vis the US dollar, the NRIs have set their sights on the Indian realty sector for investments. As a result, property acquisition by NRIs is on the rise gradually. They have been evincing an interest in premium luxury segments shifting their focus from middle income generating assets. Compared to the US dollar, India rupee fell by 5.2 per cent in 2022.
Global economy is facing many challenges, but the growth of the Indian economy is described as safe, according to NAREDCO Vice-Chairman and Hiranandani Group MD Niranjan Hiranandani. In this backdrop, the Indian realty sector emerged as a safe bet for NRIs for investment. The real estate investments have increased even in the period of disarray guaranteeing rental returns. That is why the Indian realty sector emerged as an investment heaven for the NRIs if the increased property sales during the last several months was any indication.
K Raheja Corp Homes Chief Executive Ramesh Ranganathan opined that NRIs are looking towards the Indian realty sector for investment as rupee value is depreciating. The RERA and digitization is helping channelize investments into the realty sector. NRIs living in the USA, Hong Kong, UK, Singapore and Malta are keen on investing in the realty sector in India, he said.
