Rajashekar Reddy, president of the Confederation of Real Estate Developers’ Associations of india (CREDAI) hyderabad, explained why non-resident indians (NRIs) choose hyderabad as their investment destination. He said in an interview with india Herald that NRIs are the reason the city's real estate sector has thrived.
 
NRIs focusing on villas in Hyderabad’s real estate market
He provided specifics on the investing habits of NRIs, stating that in the past, they had made land investments and made enormous gains during the previous four to five years as a result of the boom.
 
He stated that they are currently concentrating on Hyderabad's villas and luxury markets. When asked why NRIs are interested in hyderabad, he said that the city's improvements and dollar-to-INR conversion rates make the real estate market profitable for them.
 
Dollar-to-rupee exchange rate
The dollar-to-rupee exchange rate hit 86.60 on Friday.
 
In the meantime, the reserve bank of india (RBI) reported on friday that India's foreign exchange reserves fell by USD 8.714 billion to USD 625.871 billion in the week ending january 10.
 
According to Anuj Choudhary, a Research Analyst at Mirae Asset Sharekhan, a decline in domestic markets and a spike in crude oil prices were the main causes of the rupee's decline.

The rupee may also be under pressure from importer demand. The reserve bank of india (RBI) may, however, support the rupee at lower levels if it sells dollars. He predicted that the USD-INR spot price would fluctuate between 86.55 and 86.95. "Traders may take cues from industrial production and housing market data from the US," he added.
 
NRIs are finding the hyderabad real estate market to be a profitable place to invest due to the rupee's depreciation versus the US currency.
 
 
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SIBY JEYYA

20/01/2025 11:04 AM