The real estate market in India is booming with lucrative investment options. The onslaught of development is boosting property values across the country. Areas around metro cities like Mumbai and Pune are witnessing a surplus of investment from real estate developers. Naturally, potential investors are looking to maximize on the boom, including non-resident Indians (NRIs). If you're an NRI looking to invest in property, now's the right time. Here's why NRIs are investing in India:
1. Better markets: India as a country is developing economically rapidly. Foreign Direct Investment (FDI) along with the outsourcing boom has India become one of the world's fastest growing economy. The growth in the economy has given real estate market in India a push too. With projected growth in the future, property investment is now a profitable market.
2. Growing infrastructure: India's growing exponentially economically as well as in terms of infrastructure. With an expanding job market, the populace is migrating to metropolitan cities. As a result, properties in and around cities have become a hotbed for investment. The best examples of this phenomenon can are Panvel and Khandala. Panvel is now becoming a burgeoning residential suburb of Navi Mumbai and Mumbai. The rapid development of infrastructure, the emergence of corporate offices and financial impetus being brought about by the oncoming International airport, has made Panvel a prime real estate location for home buyers and investors. Similarly, Khandala, which is the preferred quick getaway spot for every Mumbaikar, is now witnessing a real estate boost as real estate developers are developing Khandala properties for sale. Khandala villa projects have become an attractive investment option for NRIs.
3. RERA: The Real Estate Regulations Act has been a boon for investors. This act aims to guard property buyers against malpractices and sets regulations for the real estate industry. Under this act, the carpet area is standardized, incorporated Right to Information (RTI) and provided necessary rights to the buyer. RERA's security coupled with Indian real estate's profitable future, have made property a high-paying investment for NRIs.