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Contribution of nris to the real estate boom

Contribution Of NRIs To The Real Estate Boom

The real estate market in India is getting hotter not only from within but also from outside. If the local investors are leveraging the higher trend of real estate rates from within, it is pressure from the Non Resident Indians (NRIs) and global market players that are determining the future of the real estate boom in India.

Malini Alles, a Silicon Valley billionaire and social activist has launched Maia Fund, a real estate $150m fund with a greenshoe option of another $100m to invest in the Indian property market. She also proposes to chip in $10m into the fund.

An entrepreneur from US, Raj Vakharia, announced the launch of a private equity fund, which will invest $250m worth of US institutional capital into India’s booming real estate market

These are not just one-off reports that are making headlines in the India real estate. Rather, such investments are becoming a routine in the highly rated real estate boom in India. The NRI investment in India is constantly on the upswing thanks to the liberal investment policies of Indian governments at the Centre and the States.

The technology boom is largely considered as a major contributing factor in the present boom in the Indian real estate sector. The tier I cities like Bangalore, Delhi, Mumbai have registered a phenomenal growth in the past decade. This boom is slowly percolating to the tier II and tier III cities like Chandigarh, Gurgaon, Pune, Hyderabad, Mysore.

The NRIs, who had left the country for better opportunities abroad and made it big in the alien land have started looking at dream India positively. Their desire to invest in immovable properties in India is seen as reverse brain-drain (as is known in IT circles) in the real estate sector. And all this is the result of sustained liberalized policies adopted by the successive Indian governments. The Indian juggernaut has just started to roll and it promises greater revolutions in every future roll!

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