According to sources the depreciating rupee has affected most Indians either directly or indirectly, but it has benefited non-resident Indians (NRIs) when it comes to investing in Indian real estate in India. Meanwhile the depreciation has put more rupees in NRIs’ hands, making properties cheaper for them than they were earlier.



Furthermore as a result, there is an improvement in both inquiries and transactions by NRI in the real estate sector. Anuj Puri, chairman, ANAROCK Property Consultants said “The charms to own a property back in their country of origin makes NRIs consider real estate as an option. Meanwhile needless to say, the depreciating rupee value against currencies such as dollar, pound, the UAE dirham, among others, is prompting a large number of NRIs to invest into the country’s realty market”.

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Puri said “With the rupee depreciating at a faster clip in the last few months, real estate experts expect addition in demand from NRIs and there is a surge of nearly 15-20% in inquiries from NRIs annually”.


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SIBY HERALD

13/10/2018 01:01 AM