The economic effects from coronavirus has been catastrophic but the scenario for many sectors has also enhanced significantly especially the Indian Real estate sector. Due to the pandemic, many people, especially NRIs are now considering to invest in property for their safety as well as to earn good returns in the future.
Only Real estate has been proving to be a good investment option as it does not get as affected by currency fluctuations as the stock market & other financial investment in funds. Not only investing in property gives you security in the prevailing time but it also offers great returns for the future.
In India, the real estate sector is going through a remarkable transformation and revival process. Residential property in India has seen a significant leap in demand from NRIs in the weeks after Covid-19 prompted most of India to go indoors during the protective lockdown.
The thought of buying a house in their own country is soothing for NRIs and offers a safe haven. In the minds of NRIs, the prevalent pandemic has created chaos. The lack of jobs and industries brought some of them back to India. Owning a home here gives the NRIs a sense of stability and consistency to fall back on in difficult times. This also offers them a chance to come back to the nation after retirement or to pursue the region’s new business prospects.
There are mainly two reasons as to why it is a good opportunity for Non-resident Indians (NRIs) to invest in Indian Realty Market now:
• Falling value of Rupee
• Low rate of interest on Home Loan
A depreciating rupee provides a perfect atmosphere for investing in Indian real estate, as the cost of acquiring property for NRIs would be lower now. The Indian market now offers a number of world-class innovations that cater to NRIs’ lifestyles and tastes.
As most of the NRIs are from America & Indian currency is weaker against the US dollar, which gives them a perfect chance to invest in Indian real estate. For NRIs, a stronger dollar means more buying power that means they can get a good quality proper at a lot less cost.
Lower rates of interest offered by banks to cope up with inflation are also beneficial for NRIs as well as a resident of the country because you can get home loans easily making your investment in the property even more beneficial. These are among the lowest home loan rates in years.
Moreover, NRIs paying higher home loan interest should consider refinancing their home loan to reduce the monthly EMI pressure and increase savings on interest costs. And with pre-closure charges, processing costs, and valuation fees on the new loan, if the home loan has a long term remaining, it will still be worth refinancing and saving considerable money. Opportunities remain to choose for fixed terms on new loans or lock in lower rates for the long term.
Besides these Developers are trying to draw potential clients and give customers some of the best offers they’ve seen in a long time. Increased demand for residential real estate has resulted in incentives such as creative payment systems, lowest home loan interest, and rental guarantee. The convergence of these thrilling opportunities makes it beneficial to invest in residential properties.
Regulatory support of government is another reason why it is good to invest now. The introduction of RERA (Real Estate Regulatory Authority, 2016) has improved NRI buyers’ expectations and trust. RERA tackles significant issues such as lack of contract transparency, prolonged project delivery delays, and developer intent.
Not only is real estate today an alluring asset class, but it also offers healthier returns relative to other investment options; NRIs have been predisposed to residential real estate purchases through strong rental yields and capital appreciation.
Leasing is a major source of income and there is a massive market for residential properties. As usually NRI lives in a foreign country they can earn good extra income by renting it. Though they have to pay tax in India on their rental income. And if India has a Double Taxation Avoidance Agreements with the other country you are saved from paying tax in other countries.
This is an apt time for NRIs to upgrade their family homes in India with varied facilities and larger space to more dynamic and self-sustainable properties. Usually, NRI buyers look for property at a well-developed area which can provide them great connectivity and with the well reputed & trusted developer.
SBP Group is the No. 1 Housing Company in Punjab & has been successful in providing more than 8500+ families their dream home. SBP has set a precedent in the real estate industry by delivering high quality property, excellent infrastructure, and top-notch services as the budget to its customers. With 14 years of commitment, we have won the trust of our clients.
For your investment intent, we offer you Luxury Projects in Mohali, Derabassi & Zirakpur: SBP Gardenia, City of Dreams, Housing Park, Gateway of Dreams, Elite Homes, Shopping Square, Lifestyle Square and several more commercial and residential projects. All these measures are great for living a life full of security and full of luxury that fits your lifestyle.
Tricity is known to be the best residential place in India as it offers various opportunities. The area is growing and is expected to provide high investment returns on property in the future. These properties also provide good rental value as they are situated near the famous education institution & students often look for rental property here. By Investing with us in 2 or 3 BHK flats there is no doubt in saying that your investment will only turn into more beneficial.
The combination of lowest home loan rate, declining Indian rupee rate, fantastic offers and discounts, housing supply and incredible pricing makes this a perfect time for NRI home buyers. If you want to invest in the Indian Real estate market or have any questions regarding it, we at SBP Group are always available for you.
