Why Should NRIs Invest In Real Estate Amidst Covid-19 Crisis?
COVID-19 pandemic is an unexpected situation none of us had predicted which has taken the world by storm. The lockdown & increased focus on work from home culture have caused a lot of introspection on how much a comfortable & spacious home is required to accommodate both, the family and a home office. It has severely affected the Indian economy, especially the real estate sector. As a result, construction activities have come to a halt, inventory has accumulated and pending sales have hampered the liquidity supply in the sector. Moreover, the fall in the GDP of the country has made the value of the Indian currency dip even more. But there’s always a silver lining & in this scenario, it is unquestionably NRI investment in India.
It is an ideal time for the Indians abroad to remain connected to their roots by investing in a home to come back to. Pune & Bangalore are the emerging residential destinations that offer numerous projects along with a peaceful ambience, healthy environment, and the luxuries of life. Here are 4 reasons for NRI investment in real estate projects in Pune & Bangalore:
- Low Rupee Value
Since March 2020, the value of the Indian Rupee has fallen by 7% as compared to the US dollar. This means that NRIs can now have access to their desired projects which are bigger, better & can offer them good returns too.
- Reduced Home Loan Rates
RBI reduced the Repo Rate from 5.75% to 4.40% on March 26 to provide the much-needed boost to the Indian economy & encourage NRI investment in real estate, which has further caused the home loan interest rates to drop as well.
- Discounted Rates foNRIs
Developers have started offering discounted residential prices & incentives like price protection schemes to clear the under-construction inventories. The buyer holds a higher bargaining power than normal circumstances. This is also an added benefit for the NRIs since the ready-to-move in homes are also covered under the scheme which eliminates any risk related to delay in construction or quality of the project.
- Attractive Offers
Developers are providing various offers, payment schemes and other plans that is an added advantage for the potential buyers. Kolte-Patil Developers have introduced an exciting scheme for their affordable & luxury flats in Pune. The homebuyers can book their dream home at 10% & pay the rest on possession. This makes NRI investment in Pune a lucrative option for buyers abroad.
As soon as the lockdown is lifted, the returns-to-investment ratio is expected to decrease which is not an ideal situation for the investors.
Kolte-Patil offers a variety of property options for NRI investment in Bangalore & Pune to ensure that the investors feel confident to invest their hard-earned money in their home country. If you are an NRI and considering buying a property for investment, then this is an ideal time for you. Make sure to check the previous price trends, commercial developments, and upcoming social and physical infrastructure before reaching a decision.