More UAE NRIs are eyeing premium homes in India, according to the results of a survey conducted by Sumansa Exhibitions, the organizers of the upcoming Indian Property Show.
The survey was conducted among 15,000 expatriate Indians in the UAE in which 16 per cent are looking for homes in this budget range. Additionally, the buyer’s interest in the higher category of homes in the budget range of 1 crore – 2 crores (approximately Dh534,500 –Dh1 million) observed an 80 per cent increase from 10 per cent last year to 18 per cent wanting to purchase this year.
The survey also uncovered a number of other interesting trends related to NRI investments into their home country. The survey was conducted to understand the reason of buying property in India, preferred cities for investments, type of property, time frame, budget and finances planned, etc.
According to the findings of the study, Mumbai, Chennai, Bengaluru, Pune and Hyderabad emerged as top 5 preferred cities for NRI investments from UAE, whereas Delhi NCR, Cochin, Ahmedabad, Goa and Coimbatore joined the list too, in that order.
“Perhaps we can attribute the boost of interest in the luxury segment to the fall in Indian rupee and stronger government regulations such as the RERA bill. Moreover, the recent demonetization move by the Indian Government will also immensely benefit the real estate sector in creating a stronger, healthier and sustainable growth”, said R. Srividya, General Manager- Corporate Sales and Brand Engagement of Indian Property Show, Sumansa Exhibitions.
The Indian Property Show will be held in Dubai from Dec 8th-10th, 2016 at Dubai World Trade Centre, Hall 2 and will feature budget to luxury properties from across India. Top Indian developers will be presenting thousands of properties while the educative and informative seminars during the show will guide the buyers on the dos and don’ts of investments.